Find out how many months it takes to save the down payment for a bike or car. Enter the vehicle price, the down payment you want, what you have saved and what you can put aside each month. The calculator shows how long it will take, the approximate month you will be ready, and the monthly saving needed if you want to be ready by a date.
You supply every figure. This tool does not suggest a down payment percentage or a savings return.
Use the down payment your lender or dealer asked for. This tool does not suggest a percentage or a return, and a return left empty counts as zero.
Nothing you type is stored or sent anywhere. Results are calculated from the numbers you enter.
How to use the savings planner
- Enter the price of the vehicle you plan to buy.
- Enter the down payment your lender or dealer asked for, as a percentage of the price or in rupees.
- Enter what you have already saved and how much you can save each month.
- Optionally enter a yearly return on your savings, if your savings earn one. Leave it empty to count none.
- Optionally enter the number of months you want to be ready in, to see the monthly saving needed.
- Press “Plan my savings”.
How the results are worked out
- Down payment target = price × percentage ÷ 100, or the rupee amount you entered
- Still needed = target − savings so far
- Each month the balance grows by the monthly rate (yearly return ÷ 12) and then your monthly saving is added. The calculator counts the months until the balance reaches the target.
- Monthly saving needed for a set number of months is solved from the same formula and rounded up to the next rupee.
What this calculator does not include
- The down payment a lender requires. Ask your bank or dealer, as it differs by lender and product.
- Registration, token tax, insurance, processing and other fees, which are usually paid on top of the down payment.
- Changes in the vehicle price or in your income while you save.
- Any suggested return. Returns on savings are not guaranteed, so leave the field empty if you are unsure.
More tools for buyers
Once you have the down payment, work out the monthly instalment with the bike installment calculator or the car installment calculator, and see the full running cost with the vehicle ownership cost calculator. To see how much you could finance from your income, use the vehicle affordability calculator. If you take a loan, the vehicle loan extra payment calculator shows how paying extra could finish it sooner.
Vehicle down payment savings planner FAQs
How much down payment do I need?
It depends on the lender, the vehicle and the financing product. Ask your bank or dealer, then enter that figure here.
How is the date worked out?
The calculator adds the number of months to today’s date. It is an estimate based on saving the same amount every month.
What if I leave the return empty?
The tool counts no return, so your savings grow only by what you add each month.
Is my data stored?
No. The calculation runs in your browser, and nothing you enter is sent to our servers.