Used Car Loan EMI Calculator

Plan your pre-owned car loan instalments wisely.

What is a used car loan EMI calculator

Used car loan EMI calculator is a perfect tool for calculating your EMIs instantly. Applicants can check their EMIs payable with a few simple inputs such as the loan amount, interest rate, and tenure. The used car loan EMI calculator will show the total interest payable and EMIs for the loan tenure. You can find the most affordable pre-owned car loan EMIs by doing these calculations in advance.

How to use our online used car loan EMI calculator

You can use the Bajaj Finserv Used Car Loan EMI Calculator to calculate your EMIs with ease. Simply enter the loan amount, interest rate, and tenure of the loan in the relevant fields. Click on the 'Calculate' button to determine the monthly installment amount. Explore several loan scenarios by modifying the input parameters to learn about the total interest payable and repayment schedule.

Benefits of using a Bajaj Finserv Used Car Loan EMI Calculator

Here are the main benefits of using a Bajaj Finserv Used Car Loan EMI Calculator:

  • Instant outcomes: The process of manually figuring out your monthly instalments is difficult and time-consuming. The second-hand car loan EMI calculator simplifies the process of figuring out your monthly payments.
  • Precise financial planning: One of the most significant advantages of a pre-owned car loan EMI calculator is its ability to calculate precise payments for a variety of loan amounts. You can use this calculator to calculate your EMIs by entering the loan amount, interest rate, and loan tenure.
  • User-friendly: In contrast to traditional manual calculations, which can be difficult to do anywhere and at any time, this user-friendly application is accessible and simple to use, allowing users to calculate their EMIs even while on the go.


Results generated by the calculator(s) are indicative in nature. The interest rate applied on the loan will depend on the prevailing rates at the time of loan booking.

The calculator(s) are not intended to provide its users/ customers with results that are either certified by Bajaj Finance Limited (“BFL”) or are an obligation, assurance, warranty, undertaking or commitment, financial and professional advice by BFL, under any circumstances. The calculator(s) is only a tool that assists the users/ customers arrive at results of various illustrative scenarios generated from data input by the user/ customer. The use of the calculator is entirely at the risk of the user/ customer, BFL is not responsible for any reason, for any errors in any outcome resulting from the use of the calculator.

Frequently asked questions

What does a used car loan EMI calculator do?

With the help of used car loan EMI calculator, you can figure out the monthly EMIs for your loan. You can predetermine the monthly EMIs payable and choose a loan amount that fits your financial goals.

What is an EMI? How is it calculated?

EMI stands for equated monthly instalments. It is the monthly payment you will be required to make for any kind of loan. Smaller monthly payments make up the overall loan balance and interest charges. The tenure, principal and interest rate charged are important factors for determining EMIs.

The formula for EMI calculation is:

EMI = P x R x (1+R)^N / [(1+R)^N-1], where P is the principal, R is the rate of interest, and N is the tenure.

Enter the principal, the tenure, and the interest rate to get a detailed amortization schedule, a list of the EMIs you have to pay, and the total interest you have to pay.

How to calculate your EMI using a used car loan EMI calculator?

You just need to enter the loan amount, the tenure (in months), and the interest rate to calculate your monthly EMIs.

Can I get funding for new cars?

Yes, you can get funding for new cars with our new car finance. Follow this link to know the features and benefits of our new car finance.

What is the average tenure of a pre-owned car loan?

When you choose a pre-owned car loan, you usually get a tenure of up to 72 months. Bajaj Finance offers a high value used car loan that comes with simple eligibility and a flexible repayment tenure. Follow this link to know the features and benefits of our used car loan.

Is it good to take a pre-owned car loan?

If you are planning to buy a second-hand car, a used car loan can help you with required financial assistance. Bajaj Finance offers a high value used car loan of up to Rs. 77 lakh that comes with minimal documentation and simple eligibility criteria. If you are looking to buy a car, you can apply online for our used car loan and get funds in just 48 hours. Click to apply for a used car loan online.

How is used car loan calculated?

The total amount of your used car loan is calculated based on the current value of your vehicle. Bajaj Finance offers loans of up to 100% of the car’s value at competitive interest rates. Our used car loan requires minimal documentation and comes with a hassle-free online application process.

What is the minimum salary for a pre-owned car loan?

Your minimum monthly salary should be Rs. 20,000 to get a pre-owned car loan. Click to know more about the eligibility criteria for our used car loan.

What are the fees and charges for a second-hand car loan?

When you apply for a second-hand car loan, you get funds at a certain interest rate. However, apart from this rate of interest, you also need to pay some additional fees such as processing fee, documentation charges and more. Click to check the complete list of applicable fees and charges.

How to reduce your used car loan EMI?

Your used car loan EMIs depends on the amount you borrow, tenure and the applicable interest rate. You can reduce your loan EMIs by opting for a longer tenure. You can also reduce your EMIs by maintaining a healthy CIBIL Score. A CIBIL Score of 720 or higher helps you get a loan at competitive interest rates which eventually help you lower your EMI.

What are the factors that impact the used car loan EMI?

Your used car loan EMI depends on the loan amount you have borrowed, tenure and the applicable rate of interest.

How to use a used car loan EMI calculator?

Using a used car loan EMI calculator is easy. You can simply enter the loan amount, rate of interest and tenure. Once you provide all these details, you will get the EMI amount you need to pay. You will also get details such as the total interest and the total amount payable.

What are the benefits of using a Bajaj Finserv Used Car Loan EMI Calculator?

Calculating your loan EMI manually is time-consuming and might give erroneous results. However, using our used car loan EMI calculator eliminates manual effort and gives you an error-free result instantly.

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