Chevrolet Aveo [2009-2012] Car Loan EMI Calculator

₹ 12,636.
Here is how - Chevrolet Aveo [2009-2012] price starts from ₹ 6,80,396 in Kolkata. If you pay a down payment of ₹ 57,225 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 12,636.

The cheapest Aveo [2009-2012] model is LS 1.4 which is priced at ₹ 6,80,396 in Kolkata. You will need to pay at least a ₹ 57,225 down payment to buy this model.

Note: Down payment is the amount you would pay upfront to buy your car. Bank give you a loan for the remaining amount.

Here is a model wise list of max loan amount for Aveo [2009-2012].

Version	On-road price in Kolkata	Max Loan
LS 1.4	₹ 6,80,396	₹ 6,23,171
LT 1.4	₹ 7,57,564	₹ 6,97,729
LT 1.4 ABS	₹ 7,88,753	₹ 7,27,863
LT 1.6 ABS	₹ 8,06,849	₹ 7,28,895

As a thumb rule, you can get a maximun loan of up to 100% of the ex-showroom price.

Good Practice will be to chose the shortest possible tenure for which you can afford an EMI amount.

• 1. If you select a higher tenure loan, let's say 7 years, your EMI for Aveo [2009-2012] LS 1.4 will be ₹ 10,605 but you will have to pay interest of ₹ 2,67,649 over the period of 7 years.
• 2. If you select a lower tenure loan, let's say 3 years, your EMI amount will be higher at ₹ 21,321, but your interest payment will be only ₹ 1,44,385 over the 3 years period.

₹ 12,636
Chevrolet Aveo [2009-2012] price starts from ₹ 6,80,396 in Kolkata.

We have considered
Down-payement : ₹ 57,225
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Aveo [2009-2012] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 2,27,000

As a general rule, banks or other lenders offer you a car loan 3 to 4 times your annual income. Considering the on-road price of Aveo [2009-2012] starts from ₹ 6.80 Lakh, you can get a loan with an annual income as low as ₹ 2.27 lakh.

Here are the most important things you should consider while getting a car loan for a new Aveo [2009-2012]

• 1. Interest rate - Go for the loan with the lowest interest rate.
• 2. Additional Charges - processing fee, prepayment charges, late payment penalty are some of the important points you need to check before taking a loan.
• 3. Tenue and Max Loan Amount - Select a lender who gives you a loan that you can afford.
  -If Max loan amount is lower, you will have to shell out more money upfront to buy the car.
  -If Tenue is lower, your per month instalment amount will increase.
• 4. Eligibility - Banks may have stricter eligibility requirements compared to NBFCs or other financial institutions.