Estimate the EMI on a car loan. Car loans have shorter tenures (up to about 7 years) and slightly higher rates than home loans.
A car loan usually covers a portion of the on-road price; the rest is your down payment. A bigger down payment means a smaller loan, a lower EMI, and less total interest. Enter the amount you actually need to borrow (on-road price minus down payment).
Cars lose value over time, so a shorter tenure is wise even though it means a higher EMI. Long car loans can leave you owing more than the car is worth.
Shorter is generally better (3-5 years). It costs more per month but far less interest, and you avoid owing more than the car is worth.
Yes if you can. It reduces the loan, the EMI and the total interest you pay.
Read the guide: Car loan vs personal loan: which costs less? →
Last updated: August 2026. Estimates only; actual car loan rates and terms vary by lender.