Car Loan EMI Calculator

You can use Digit’s car loan EMI calculator as many times as you want. There is no limit to its usage since it is a free tool for all.

You can use Digit’s car loan EMI calculator as many times as you want. There is no limit to its usage since it is a free tool for all.

If you have access to the relevant information, such as the loan principal, tenure and interest rate, you can complete calculations on this tool almost instantaneously. As soon as you enter the data and click on calculate, this page will display your EMI amount, along with other relevant data about your loan.

If you have access to the relevant information, such as the loan principal, tenure and interest rate, you can complete calculations on this tool almost instantaneously.

As soon as you enter the data and click on calculate, this page will display your EMI amount, along with other relevant data about your loan.

Car loan tenures generally go up to 5 years for most lenders. However, some banks and NBFCs in the country may even offer a repayment period of up to 7 years. You must inquire about this with your chosen lending institution before availing the loan. 

Car loan tenures generally go up to 5 years for most lenders. However, some banks and NBFCs in the country may even offer a repayment period of up to 7 years. You must inquire about this with your chosen lending institution before availing the loan. 

A co-applicant is not a necessity in case of car loans. Nevertheless, if your income or credit score is too low to avail such credits, you can apply with a co-guarantor to boost your eligibility. In such a case, the co-applicant’s income and CIBIL score will also influence the amount of loan you can avail, as well as the interest rate your lender levies on the same. 

A co-applicant is not a necessity in case of car loans. Nevertheless, if your income or credit score is too low to avail such credits, you can apply with a co-guarantor to boost your eligibility.

In such a case, the co-applicant’s income and CIBIL score will also influence the amount of loan you can avail, as well as the interest rate your lender levies on the same. 

The car loan EMI calculator can determine your new EMIs for such a loan if you prepay a portion of your outstanding principal amount. In such an event, all you need to know is the remaining principal due on loan, along with the remainder of your chosen tenure. Enter these details into the tool, and you will acquire your new and reduced EMI figure.

The car loan EMI calculator can determine your new EMIs for such a loan if you prepay a portion of your outstanding principal amount.

In such an event, all you need to know is the remaining principal due on loan, along with the remainder of your chosen tenure. Enter these details into the tool, and you will acquire your new and reduced EMI figure.

Some Indian lenders may be ready to provide loans for the purchase of used vehicles. However, several factors determine whether you can avail such a loan. The most important deciding factor is the age of the car you are about to buy. Financers may be reluctant to provide loans on older used cars since their value has greatly depreciated over the years.

Some Indian lenders may be ready to provide loans for the purchase of used vehicles. However, several factors determine whether you can avail such a loan. The most important deciding factor is the age of the car you are about to buy. Financers may be reluctant to provide loans on older used cars since their value has greatly depreciated over the years.

Your car loan will be based on the ex-showroom price of the model. Unfortunately, this means that you would need to fund the additional expenses, such as insurance and registration, from your own pocket.

Your car loan will be based on the ex-showroom price of the model. Unfortunately, this means that you would need to fund the additional expenses, such as insurance and registration, from your own pocket.

Apart from breaking down your car loan payments into the number of EMIs, the amortisation schedule also lets you know how much of your payment is going towards repaying the principal and how much of it is servicing the interest charges. This data can be immensely helpful if you decide to foreclose the debt in the future. 

Apart from breaking down your car loan payments into the number of EMIs, the amortisation schedule also lets you know how much of your payment is going towards repaying the principal and how much of it is servicing the interest charges. This data can be immensely helpful if you decide to foreclose the debt in the future. 

Car loans do not require you to pledge an asset against the loan. However, keep in mind that the car you purchase will be hypothecated to the bank or NBFC from whom you are availing the car loan until the repayment is complete.

Car loans do not require you to pledge an asset against the loan. However, keep in mind that the car you purchase will be hypothecated to the bank or NBFC from whom you are availing the car loan until the repayment is complete.

Only those proficient in the functionality of MS Excel can use the EMI calculation formula on the sheet to simplify such calculations. For others, this option would be too complex, as they would first need to learn the software’s operations. Using the car loan EMI calculator is often the simpler option since it is a readymade tool, where one need only enter the information in the relevant fields.

Only those proficient in the functionality of MS Excel can use the EMI calculation formula on the sheet to simplify such calculations.

For others, this option would be too complex, as they would first need to learn the software’s operations.

Using the car loan EMI calculator is often the simpler option since it is a readymade tool, where one need only enter the information in the relevant fields.