Car Loan Calculator
Updated July 2026
Work out the EMI on a car loan after your down payment. Note that GST 2.0 cut small cars (petrol under 1200cc, diesel under 1500cc) to 18%, while luxury and large cars now sit at 40% — the on-road price you are financing may have shifted.
Car Loan Calculator
Frequently Asked Questions
What is the GST on cars now?
Small cars — petrol under 1200cc or diesel under 1500cc — are at 18% since 22 September 2025. Luxury and large cars are at 40%. Motorcycles up to 350cc are 18%; above 350cc, 40%.
How much down payment for a car loan?
Lenders typically fund 80–90% of on-road price, so budget 10–20% down plus insurance and registration.
Is a car loan tax-deductible?
Not for personal use. If the vehicle is used for business, interest and depreciation may be claimable — check with your accountant.