MoneyChanakya
MoneyChanakya
Your Guide to Financial Wisdom
Holistic Financial Advisory
Kapil Chopra
Your Money Chanakya™
NISM Certified · ARN – 282253
Kapil Chopra
Free · Takes 3 Minutes · No Obligation

Get the keys, not the financial stress

Enter your car cost, savings, and timeline — we'll work out a realistic loan estimate, EMI fit, and a down payment savings plan that keeps things comfortable.

Plan your car purchase

A few details about you, the car, and your income — we'll calculate a realistic EMI, loan eligibility, and a savings plan for your down payment.

1
Your Profile
Minimum age: 23 years
Car & Finance Details
2
The Car You Want
Cars don't appreciate — most purchases are planned within 1–5 years
On-road price — includes RTO registration, insurance & handling, not just the showroom sticker price. This anchors your loan amount and EMI.
Most lenders require a minimum 10–15% down payment
We'll calculate the monthly SIP needed to cover any shortfall
Used only to size the monthly SIP needed to cover your down payment shortfall
Your Income
3
Income Sources
FOIR methodology: Lenders typically allow up to 40% of weighted monthly income for all EMI obligations combined (auto loans are assessed more conservatively than home loans). Income types are weighted: Salaried 100%, Business/Self-employed 80%, Rental 70%, Agricultural/Other 50%.
Self-funded context: Since your down payment covers the full car cost, there's no loan involved — FOIR and EMI don't apply. Your income here just helps gauge whether the monthly SIP target is manageable.
Salaried
Fixed monthly CTC
100% weight
Business
Own business profits
80% weight
Self-employed
Professional / freelance
80% weight
Rental
Property rental income
70% weight
Agricultural
Farm / land income
50% weight
Other Income
Pension / dividends
50% weight
Weighted Monthly Income (lender view)
₹0
Select income type above
Max EMI (40% FOIR)
₹0
Less Commitments
₹0
Available EMI Capacity
₹0
Loan Terms
4
Loan Preferences
Auto loans in India are typically offered for 1–7 years
Typical range: 8–11% for new cars, higher for used cars
CIBIL score directly affects the interest rate you're offered and whether the loan is approved at all
Other loans you'll still be paying off after this purchase — not one you're closing with this car's sale proceeds
Review & Submit