Down payment
This is the amount you pay upfront. With the same car price, paying more upfront reduces the amount you need to borrow. Keep room in your budget for the other costs of ownership.
General information to help you prepare questions for a lender.
A manageable monthly payment is useful, but it is only one part of the decision. Compare the amount borrowed, interest, loan tenure and charges together. Actual eligibility and terms come from your chosen lender.
This is the amount you pay upfront. With the same car price, paying more upfront reduces the amount you need to borrow. Keep room in your budget for the other costs of ownership.
The rate affects the cost of borrowing. Ask whether it is fixed or variable and how interest is calculated. Compare the rate together with the lender’s fees and total repayment.
This is the repayment period. For the same amount and rate, a longer tenure generally lowers the monthly EMI while increasing total interest. Try different periods in the calculator to see the trade-off.
Ask for a clear repayment schedule and a breakdown of processing, insurance, late-payment and early-repayment charges that may apply. The calculator’s result excludes these additional charges.
Further reading: RBI financial education: borrowing and interest
A lender may ask for identity or address evidence, income information, bank statements, and vehicle documents. The exact checklist is set by the lender. Share sensitive information only through an authorised, secure lender channel. Do not upload Aadhaar to NCR Wheelz.
The EMI calculator uses a monthly reducing-balance formula and excludes extra charges. Use it to explore assumptions; confirm actual terms directly with your lender.
Open EMI calculator ↗Still have something on your mind? We’re happy to talk it through.
Talk to our team ↗No lender application service is currently configured. The finance information and EMI calculator help you prepare; confirm eligibility and actual terms with your chosen lender.
A lender may ask for identity and address evidence, income information, bank statements and vehicle details. Ask for its checklist and share sensitive documents only through an authorised secure channel.
Compare the interest rate, loan tenure, charges and total repayment too. A longer tenure can reduce the monthly payment while increasing total interest at the same loan amount and rate.