Mahindra Alturas G4 Car Loan EMI Calculator

₹ 56,169.
Here is how - Mahindra Alturas G4 price starts from ₹ 27,70,180 in Shirur. If you pay a down payment of ₹ 0 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 56,169.

Here is a model wise list of max loan amount for Alturas G4.

Version	On-road price in Shirur	Max Loan
4WD AT	₹ 38,85,961	₹ 31,87,912
2WD AT	₹ 35,12,555	₹ 28,87,910
2WD High AT	₹ 37,41,475	₹ 30,67,555

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 Alturas G4 2WD AT [2018-2020] will be ₹ 43,177 but you will have to pay interest of ₹ 8,56,688 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 ₹ 86,807, but your interest payment will be only ₹ 3,54,872 over the 3 years period.

₹ 56,169
Mahindra Alturas G4 price starts from ₹ 27,70,180 in Shirur.

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

You will need to fulfill the following 2 criteria to buy Alturas G4 with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 9,24,000

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 Alturas G4 starts from ₹ 27.70 Lakh, you can get a loan with an annual income as low as ₹ 9.24 lakh.

Here are the most important things you should consider while getting a car loan for a new Alturas G4

• 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.