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The accident occurred around 11 pm on Tuesday.
The car, coming from the Palakkad side, collided head-on with a lorry coming from the opposite direction. The car was trapped under the lorry after the crash.
According to the police, the deceased include K K Vijesh (35), Ramesh (31), Vishnu (30), and Muhammad Afsal (17).
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Of the five people in the car, three died on the spot. Two others were taken to Palakkad District Hospital but died during treatment in the emergency ward. The bodies are kept at the Palakkad District Hospital mortuary.
The police suspect that the car lost control due to heavy rain and crashed into the lorry, which was heading towards Coimbatore.
The car was completely wrecked, and the passengers were pulled out by cutting open the vehicle.
The lorry driver, a native of Tamil Nadu, sustained minor injuries in the accident.
In light of the mishap, political parties have suspended campaigning for the Palakkad Assembly by-election until Wednesday noon.