Ford Fiesta [2005-2008] Car Loan EMI Calculator

₹ 6,464.
Here is how - Ford Fiesta [2005-2008] price starts from ₹ 3,18,813 in Chennai. If you pay a down payment of ₹ 0 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 6,464.

Here is a model wise list of max loan amount for Fiesta [2005-2008].

Version	On-road price in Chennai	Max Loan
ZXi 1.6	₹ 7,96,997	₹ 6,92,630
EXi 1.4	₹ 6,55,896	₹ 5,93,500
ZXi 1.4 TDCi	₹ 9,01,783	₹ 7,87,630
SXi 1.6	₹ 7,89,810	₹ 7,18,200
SXi 1.6 ABS	₹ 8,67,501	₹ 7,54,630
EXi 1.4 TDCi	₹ 8,45,010	₹ 7,37,630
SXi 1.4 TDCi	₹ 8,78,838	₹ 8,02,200
SXi 1.4 TDCi ABS	₹ 9,74,453	₹ 8,51,630
ZXi 1.4	₹ 6,95,286	₹ 6,33,500

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 Fiesta [2005-2008] EXi 1.4 Durasport will be ₹ 4,969 but you will have to pay interest of ₹ 98,583 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 ₹ 9,990, but your interest payment will be only ₹ 40,827 over the 3 years period.

₹ 6,464
Ford Fiesta [2005-2008] price starts from ₹ 3,18,813 in Chennai.

We have considered
Down-payement : ₹ 0
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Fiesta [2005-2008] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 1,07,000

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 Fiesta [2005-2008] starts from ₹ 3.19 Lakh, you can get a loan with an annual income as low as ₹ 1.07 lakh.

Here are the most important things you should consider while getting a car loan for a new Fiesta [2005-2008]

• 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.