Used Car Loan EMI Calculator

EMI, total interest and APR including processing fee for a pre-owned car loan.

Updated 27 September 2026 · 8 lenders tracked

Free calculator

Instant results

Reducing-balance maths, Indian formats

About this calculator

Enter loan amount, rate and tenure. Keep the tenure within the lender’s car-age limit — for example, SBI allows car age + tenure up to 10 years.

Formula: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate and n the number of months.

Rate	2 yrs	3 yrs	4 yrs	5 yrs
10.00%	₹4,614	₹3,227	₹2,536	₹2,125
11.00%	₹4,661	₹3,274	₹2,585	₹2,174
12.00%	₹4,707	₹3,321	₹2,633	₹2,224
13.00%	₹4,754	₹3,369	₹2,683	₹2,275
15.00%	₹4,849	₹3,467	₹2,783	₹2,379

EMI for every ₹1 lakh borrowed. Multiply by your loan amount in lakh.

Loan amount	EMI @ 10.00%	EMI @ 12.00%	EMI @ 15.00%
₹3,00,000	₹7,609 interest ₹65,221	₹7,900 interest ₹79,207	₹8,349 interest ₹1,00,763
₹5,00,000	₹12,681 interest ₹1,08,702	₹13,167 interest ₹1,32,012	₹13,915 interest ₹1,67,938
₹8,00,000	₹20,290 interest ₹1,73,923	₹21,067 interest ₹2,11,219	₹22,265 interest ₹2,68,701

Tenure 4 years, reducing-balance EMI.

Tenure	EMI	Total interest	Total repaid
2 years	₹23,537	₹64,882	₹5,64,882
3 years	₹16,607	₹97,858	₹5,97,858
4 years	₹13,167	₹1,32,012	₹6,32,012
5 years	₹11,122	₹1,67,333	₹6,67,333

₹5,00,000 at 12.00%.

Is it better to take a shorter tenure?

A shorter tenure raises the EMI but cuts total interest sharply, and suits a depreciating asset like a used car.

For information and comparison only. Loan terms, rates and rules change — confirm with the lender and read the Key Facts Statement before borrowing.