Chevrolet Cruze [2012-2013] Car Loan EMI Calculator

₹ 28,006.
Here is how - Chevrolet Cruze [2012-2013] price starts from ₹ 15,13,412 in Gandhinagar. If you pay a down payment of ₹ 1,32,215 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 28,006.

The cheapest Cruze [2012-2013] model is LT which is priced at ₹ 15,13,412 in Gandhinagar. You will need to pay at least a ₹ 1,32,215 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 Cruze [2012-2013].

Version	On-road price in Gandhinagar	Max Loan
LT	₹ 15,13,412	₹ 13,81,197
LTZ	₹ 16,41,161	₹ 14,98,633
LTZ AT	₹ 17,43,676	₹ 15,89,195

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 Cruze [2012-2013] LT will be ₹ 23,588 but you will have to pay interest of ₹ 6,00,195 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 ₹ 47,425, but your interest payment will be only ₹ 3,26,103 over the 3 years period.

₹ 28,006
Chevrolet Cruze [2012-2013] price starts from ₹ 15,13,412 in Gandhinagar.

We have considered
Down-payement : ₹ 1,32,215
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Cruze [2012-2013] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 5,05,000

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 Cruze [2012-2013] starts from ₹ 15.13 Lakh, you can get a loan with an annual income as low as ₹ 5.05 lakh.

Here are the most important things you should consider while getting a car loan for a new Cruze [2012-2013]

• 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.