🚗 Car Loan & Cost of Ownership Calculator
Calculate your car loan EMI, total interest, on-road price breakdown, depreciation schedule, and true cost of ownership. Understand when your car value equals loan outstanding.
🏷️ On-Road Price Breakdown
💰 Loan & EMI Details
Monthly EMI
₹19,928
Loan Amount
₹9,60,000
Total Interest
₹2,35,681
Total Cost of Ownership
₹15,95,681
📉 Depreciation vs Loan Outstanding
✅ Car value stays above loan outstanding throughout the tenure. Good financing structure!
| Year | Car Value | Loan Outstanding | Equity |
|---|---|---|---|
| Year 0 | ₹13,60,000 | ₹9,60,000 | ₹4,00,000 |
| Year 1 | ₹11,56,000 | ₹8,00,803 | ₹3,55,197 |
| Year 2 | ₹9,82,600 | ₹6,26,673 | ₹3,55,927 |
| Year 3 | ₹8,35,210 | ₹4,36,207 | ₹3,99,003 |
| Year 4 | ₹7,09,929 | ₹2,27,875 | ₹4,82,054 |
| Year 5 | ₹6,03,439 | ₹0 | ₹6,03,439 |
| Year 6 | ₹5,12,923 | ₹0 | ₹5,12,923 |
| Year 7 | ₹4,35,985 | ₹0 | ₹4,35,985 |
| Year 8 | ₹3,70,587 | ₹0 | ₹3,70,587 |
| Year 9 | ₹3,14,999 | ₹0 | ₹3,14,999 |
| Year 10 | ₹2,67,749 | ₹0 | ₹2,67,749 |
Frequently Asked Questions
How much down payment should I make?
Financial experts recommend at least 20% down payment. This reduces your EMI, total interest, and ensures you're not 'underwater' (owing more than the car is worth) from day one.
What is car depreciation rate in India?
Cars typically depreciate 15-20% in the first year and 10-15% per year after that. After 5 years, a car is usually worth about 40-45% of its original on-road price.
Is a 7-year car loan a good idea?
Longer tenures mean lower EMIs but significantly more interest. Also, you risk being underwater for most of the loan. 3-5 years is ideal for car loans.
What is included in on-road price?
On-road price = ex-showroom price + RTO registration + road tax + insurance + other charges (handling, logistics, accessories). It's typically 10-15% more than ex-showroom.
Should I buy or lease a car?
Buying makes sense if you drive a lot (>15,000 km/year) and keep cars for 5+ years. Leasing suits those who want a new car every 3 years without resale hassle.
Can I prepay a car loan?
Yes, most banks allow prepayment after 6-12 months. Fixed-rate loans may have a 2-5% foreclosure charge. Floating-rate loans usually have no penalty.