Work out the monthly EMI, interest and total cost of a car loan before you buy.
Know your car loan EMI before you visit the showroom. Enter the on-road loan amount, interest rate and tenure (typically 3–7 years) to see the monthly instalment and total interest.
Car loans are usually 3–7 years. A shorter tenure means higher EMIs but far less interest, since cars depreciate quickly.
A larger down payment lowers the loan amount and therefore both your EMI and total interest.