Calculate EMI, on-road price, road tax, RTO charges & prepayment savings
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Our Car Loan Calculator helps you estimate the total cost of buying a car including on-road price, loan EMI, and interest. It also shows prepayment savings.
On-road price = Ex-showroom price + Road tax & registration + Insurance + Accessories - Discounts. Road tax varies by state from 4% to 14%. Our calculator uses a default 10% but you can adjust it.
What is the minimum down payment for a car loan?
Most banks require 10-20% down payment for new cars and 20-30% for used cars. Some dealers offer zero down payment schemes but these have higher interest rates.
Can I get a car loan for a used car?
Yes, but interest rates are 2-3% higher than new car loans. Loan tenure is typically shorter (3-5 years vs 7 years). The car's age + loan tenure should not exceed 10 years.
Should I prepay my car loan?
If you have surplus funds and the prepayment penalty is low (2% or less), prepaying can save significant interest. Use our prepayment calculator to see exact savings.
What documents are needed for car loan?
ID proof, address proof, income proof (salary slips/ITR), bank statements, and quotation from dealer. Self-employed need additional business proof and 2-year ITR.
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