Car loan in India — EMI, down payment and eligibility explained

A car loan is simple once you know the three levers: down payment, tenure and interest rate. Here is how to use them.

Down payment

Most lenders finance 80–90% of the on-road price. A bigger down payment lowers your EMI and total interest — aim for at least 20%.

Tenure

Longer tenure means lower EMI but more total interest. Pick the shortest tenure whose EMI you are comfortable with.

Eligibility & rate

Your credit score, income and existing EMIs decide your rate. A score above 750 typically unlocks the best offers.

Model it before you commit: try the EMI calculator and loan eligibility tools.