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Used car loan EMI calculatorCalculate your
monthly payments

Loan amount
₹70,000₹20,00,000
Tenure
12 months84 months
Interest rate
12%20%
₹10,592/month

Loan amount₹6,00,000

Interest @12% p.a.+ ₹2,89,728

Total amount₹8,89,728

What isEMI calculator?

Want to buy a pre-owned car but unsure of how it’s going to affect your budget? The CARS24 loan EMI calculator is a convenient, automated tool that simplifies your pre-owned car loan planning. Simply input your loan amount (principal amount) and down payment, select the tenure and interest rate, and discover your monthly loan instalments.

Use the CARS24 EMI calculator and plan your pre-owned car loan instalment with ease!

Why choose CARS24 loans?

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Finance it your way!

Customise EMIs with as low as zero down payment and up to 6 year loan tenure starting at 12% ROI

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Loan offer in minutes

Check your eligibility and get a loan offer within 2 minutes with minimal documentation

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Pan-India

Coverage across all major Indian cities with 15,000+ serviceable PIN codes`

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Loans for any car

Get a loan for pre-owned cars up to 14 years of age

Frequently asked questions

Frequently Asked Questions

What is an EMI?arrow

EMI stands for Equated Monthly Instalment. It's a fixed amount of money you pay every month to your lender until your loan is fully repaid. EMIs typically include both the principal amount and the interest, which is why they remain the same throughout the loan tenure.

How does an EMI calculator work?arrow

An EMI calculator uses a simple formula to compute your monthly payments. It takes into account the loan amount, interest rate, loan tenure, and, if applicable, the processing fee. With this data, the calculator provides you with the exact amount you need to pay each month, making it easier to plan your finances.

What are the factors that affect the EMI for a used car loan?arrow

Several factors can influence your used car loan EMI:
  • Loan Amount: The more you borrow, the higher your EMI will be.
  • Loan Tenure: A longer tenure may result in lower EMIs, but you'll pay more in interest over time.
  • Interest Rate: Higher interest rates will increase your monthly payments.

What is the difference between a fixed EMI and a floating EMI?arrow

A fixed EMI remains constant throughout the loan tenure, making it easier for you to budget and plan. A floating EMI, on the other hand, can change periodically based on market interest rates, potentially resulting in fluctuating monthly payments. Most used car loans offer fixed EMIs for stability.