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Car Loan EMI Calculator
Calculate EMI for New & Used Cars
Calculate your car loan EMI in seconds. Enter the loan amount, interest rate, and tenure to see your monthly EMI and total cost. Supports both reducing balance and flat rate calculations — important for comparing offers from banks vs dealers. Works for new cars, used cars, and refinance scenarios across all Indian banks.
Car Loan FAQs
Flat rate calculates interest on the full loan amount for the entire tenure, while reducing rate calculates interest only on the outstanding balance. A 7% flat rate is roughly equivalent to 12-13% reducing rate. Always compare the effective rate (APR) when choosing between offers.