What is a typical car loan interest rate?

Car loan rates range from 7.5% to 14% p.a. depending on the lender, vehicle type (new/used), and your credit score.

Should I pay a higher down payment?

Yes, a higher down payment reduces your loan amount and EMI. Aim for at least 20% of the vehicle price.

Yes, used car loans are available at slightly higher rates (9-16% p.a.) for vehicles up to 5-7 years old.

Calculate car loan EMI for new and used vehicles. Plan your auto loan repayment with different down payments and tenures.

Vehicle Price (₹)

Down Payment (₹)

Tenure (Months)

Monthly EMI

\u20b916,66,66,667

Total Interest

\u20b99,99,90,00,000

Total Payment

\u20b910,00,00,00,000

What is a typical car loan interest rate?: Car loan rates range from 7.5% to 14% p.a. depending on the lender, vehicle type (new/used), and your credit score.
Should I pay a higher down payment?: Yes, a higher down payment reduces your loan amount and EMI. Aim for at least 20% of the vehicle price.
Can I get a loan for a used car?: Yes, used car loans are available at slightly higher rates (9-16% p.a.) for vehicles up to 5-7 years old.