Honda BR-V Car Loan EMI Calculator

₹ 19,463.
Here is how - Honda BR-V price starts from ₹ 10,94,966 in Chennai. If you pay a down payment of ₹ 1,35,066 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 19,463.

The cheapest BR-V model is E Petrol which is priced at ₹ 10,94,966 in Chennai. You will need to pay at least a ₹ 1,35,066 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 BR-V.

Version	On-road price in Chennai	Max Loan
E Petrol	₹ 10,94,966	₹ 9,59,900
E Diesel	₹ 12,12,793	₹ 10,16,138
S Petrol	₹ 12,59,810	₹ 10,52,900
S Diesel	₹ 14,26,122	₹ 11,93,900
V Petrol	₹ 14,04,300	₹ 11,75,400
V Diesel	₹ 15,28,156	₹ 12,80,400
VX Petrol [2016-2017]	₹ 15,27,278	₹ 12,69,000
VX Diesel [2016-2017]	₹ 16,61,040	₹ 13,81,000
V CVT Petrol	₹ 15,41,721	₹ 12,91,900
VX Petrol	₹ 15,25,207	₹ 12,77,900
VX Diesel	₹ 16,57,320	₹ 13,89,900
S Petrol Style Edition	₹ 12,51,012	₹ 10,44,500
V Petrol Style Edition	₹ 13,94,907	₹ 11,66,500
VX Petrol Style Edition	₹ 15,15,815	₹ 12,69,000
V CVT Petrol Style Edition	₹ 15,32,917	₹ 12,83,500
S Diesel Style Edition	₹ 14,16,729	₹ 11,85,000
V Diesel Style Edition	₹ 15,19,353	₹ 12,72,000
VX Diesel Style Edition	₹ 16,47,927	₹ 13,81,000

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 BR-V E Petrol will be ₹ 17,066 but you will have to pay interest of ₹ 4,73,644 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 ₹ 34,312, but your interest payment will be only ₹ 2,75,332 over the 3 years period.

₹ 19,463
Honda BR-V price starts from ₹ 10,94,966 in Chennai.

We have considered
Down-payement : ₹ 1,35,066
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy BR-V with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 3,65,000

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 BR-V starts from ₹ 10.95 Lakh, you can get a loan with an annual income as low as ₹ 3.65 lakh.

Here are the most important things you should consider while getting a car loan for a new BR-V

• 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.