Ford Classic [2012-2015] Car Loan EMI Calculator

₹ 10,642.
Here is how - Ford Classic [2012-2015] price starts from ₹ 6,04,828 in Chennai. If you pay a down payment of ₹ 80,000 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 10,642.

The cheapest Classic [2012-2015] model is 1.6 Duratec LXi which is priced at ₹ 6,04,828 in Chennai. You will need to pay at least a ₹ 80,000 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 Classic [2012-2015].

Version	On-road price in Chennai	Max Loan
1.6 Duratec LXi	₹ 6,04,828	₹ 5,24,828
1.6 Duratec CLXi	₹ 6,87,239	₹ 5,97,294
1.6 Duratec Titanium	₹ 7,80,764	₹ 6,79,531
1.4 TDCi LXi	₹ 7,54,556	₹ 6,59,175
1.4 TDCi CLXi	₹ 8,10,609	₹ 7,08,537
1.4 TDCi Titanium	₹ 8,94,632	₹ 7,82,530

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 Classic [2012-2015] 1.6 Duratec LXi will be ₹ 9,427 but you will have to pay interest of ₹ 2,67,040 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 ₹ 18,953, but your interest payment will be only ₹ 1,57,480 over the 3 years period.

₹ 10,642
Ford Classic [2012-2015] price starts from ₹ 6,04,828 in Chennai.

We have considered
Down-payement : ₹ 80,000
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Classic [2012-2015] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 2,02,000

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 Classic [2012-2015] starts from ₹ 6.05 Lakh, you can get a loan with an annual income as low as ₹ 2.02 lakh.

Here are the most important things you should consider while getting a car loan for a new Classic [2012-2015]

• 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.