Auto Loan Calculator
Estimate your monthly car payment, total interest, and total loan repayment using your vehicle and financing details.
Tell us about your vehicle
Start with the purchase details below.
Vehicle & Purchase
Enter the basic details of the vehicle you are financing.
What is a down payment?
A down payment is the amount you pay upfront when buying a vehicle. It reduces the amount you need to borrow from the lender.
A larger down payment generally means a smaller loan balance, which can reduce your monthly payment and the total interest paid.
If your vehicle costs ₹20,00,000 and you make a ₹4,00,000 down payment, the amount remaining before other adjustments is ₹16,00,000.
The right down payment depends on your budget, available savings, loan terms, and other costs involved in buying the vehicle.
What are rebates and incentives?
Rebates and incentives are discounts or offers that can reduce the effective purchase price of a vehicle. They may be offered by a manufacturer, dealer, government programme, or another eligible source.
If the rebate is applied to the vehicle purchase, it reduces the amount that needs to be financed.
If a vehicle costs ₹20,00,000 and you qualify for a ₹50,000 rebate, the purchase amount after the rebate becomes ₹19,50,000 before other adjustments.
A rebate is a discount or incentive that reduces the purchase cost. A down payment is money you choose to pay upfront toward the purchase.
Incentives can vary by vehicle, location, eligibility, lender, manufacturer, and time. Check the offer terms before including a rebate in your calculation.
Trade-In
Include your current vehicle if you plan to trade it in.
What is a trade-in?
A trade-in is your current vehicle that you give to a dealer when buying another vehicle. The dealer gives you an estimated value for your current vehicle, which can help reduce the amount you need to finance.
This is the amount the dealer estimates your current vehicle is worth.
If you still have a loan on your current vehicle, enter the amount you still owe.
Your trade-in equity is calculated as:
If your vehicle is worth ₹8,00,000 and you still owe ₹5,00,000, you have ₹3,00,000 of positive equity.
If your vehicle is worth ₹8,00,000 but you still owe ₹9,00,000, you have ₹1,00,000 of negative equity. Depending on the transaction and lender, this shortfall may increase the amount you need to finance.
Financing
Enter the interest rate and repayment period for your vehicle loan.
What is APR?
APR stands for Annual Percentage Rate. It represents the yearly cost of borrowing money and is expressed as a percentage.
A higher APR generally means you will pay more interest over the life of the loan. A lower APR generally means a lower borrowing cost.
If your lender offers an 8% APR, enter 8 in this field. The calculator uses that rate to estimate your monthly payment and total interest.
Enter 0. The calculator will divide the amount financed across your selected loan term without adding interest.
Enter the annual APR exactly as provided by your lender. The calculator converts it to a monthly rate automatically.
What is a loan term?
The loan term is the amount of time you have to repay your vehicle loan. It is usually shown in months, such as 60 months or 72 months.
You generally pay more each month, but you may pay less total interest because the loan is repaid sooner.
You generally get a lower monthly payment, but you may pay more total interest because you are borrowing for a longer period.
For the same loan amount and APR, a 60-month loan will usually have a higher monthly payment than an 84-month loan, but the 84-month loan will generally cost more in total interest.
A lower monthly payment can look attractive, but always compare the total repayment and total interest before choosing a loan term.
Taxes & Fees
Include purchase taxes and additional fees that may affect the amount you finance.
What are taxes and fees?
Taxes and fees are additional costs that can be associated with buying and registering a vehicle. The exact costs depend on your location, vehicle, dealer, and transaction.
If your tax is calculated as a percentage, enter the applicable rate. The calculator uses that percentage to estimate the tax based on the vehicle purchase price.
If you already know the applicable tax as a specific amount, choose Fixed Amount and enter that amount directly.
These can include applicable registration, documentation, processing, dealer, or other purchase-related charges. The actual fees vary by location and transaction.
When taxes and fees are paid upfront, they are not added to the amount financed by this calculator.
When taxes and fees are financed, they are added to the amount you borrow. This can make the monthly payment and total interest higher.
Taxes, registration charges, dealer fees, and other vehicle costs can differ significantly between countries, states, and regions. Use actual figures from your purchase documents whenever possible.
Your result is an estimate based on the information you enter above.
Your Auto Loan
Enter your details and calculate your estimated loan payment and total borrowing cost.
What this result means
Your monthly payment is an estimate based on the loan amount, APR, and repayment term you enter.
This calculator provides an estimate for informational purposes. Your actual payment, interest rate, taxes, fees, and loan terms may vary by lender and location.