Honda WR-V Car Loan EMI Calculator

₹ 18,693.
Here is how - Honda WR-V price starts from ₹ 11,06,967 in West Godavari. If you pay a down payment of ₹ 1,85,067 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 18,693.

The cheapest WR-V model is SV MT Petrol which is priced at ₹ 11,06,967 in West Godavari. You will need to pay at least a ₹ 1,85,067 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 WR-V.

Version	On-road price in West Godavari	Max Loan
SV MT Petrol	₹ 11,06,967	₹ 9,21,900
VX MT Petrol	₹ 11,97,156	₹ 9,98,607
SV MT Diesel	₹ 14,05,355	₹ 11,37,000
VX MT Diesel	₹ 15,19,759	₹ 12,31,100
Exclusive Edition Petrol	₹ 11,60,769	₹ 9,84,837
Exclusive Edition Diesel	₹ 13,33,208	₹ 11,05,344

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 WR-V SV MT Petrol will be ₹ 17,253 but you will have to pay interest of ₹ 5,27,352 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 ₹ 34,688, but your interest payment will be only ₹ 3,26,868 over the 3 years period.

₹ 18,693
Honda WR-V price starts from ₹ 11,06,967 in West Godavari.

We have considered
Down-payement : ₹ 1,85,067
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 3,69,000

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 WR-V starts from ₹ 11.07 Lakh, you can get a loan with an annual income as low as ₹ 3.69 lakh.

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