- 카라차이-발카르어에 8개의 모음이 있다(Seegmiller 1996 기준).
| 고저 | 전후 | 원순 | 음소 |
|---|---|---|---|
| high | front | unrounded | i |
| high | front | rounded | ü |
| high | back | unrounded | ï |
| high | back | rounded | u |
| mid | front | unrounded | e |
| mid | front | rounded | ö |
| mid | back | rounded | o |
| low | back | unrounded | a |
| diphthong | back | unrounded | ay | tay ‘콜트 권충’ |
| diphthong | front | unrounded | ew | bütew ‘모두’ |
| diphthong | front | rounded | üw | süzüw ‘토론’ |
| diphthong | front | unrounded | iw | ariw ‘아름답다’ |
| diphthong | back | unrounded | aw | taw ‘산’ |
| diphthong | front | unrounded | ey | kegey ‘spoke (of a wheel)’ |
| diphthong | front | rounded | üy | üy ‘집’ |
| diphthong | front | unrounded | iy | baliy ‘체리’ |