Mahindra Scorpio [2006-2009] Car Loan EMI Calculator

₹ 14,474.
Here is how - Mahindra Scorpio [2006-2009] price starts from ₹ 8,28,622 in Bangalore. If you pay a down payment of ₹ 1,14,770 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 14,474.

The cheapest Scorpio [2006-2009] model is 2.6 Turbo 7 Str which is priced at ₹ 8,28,622 in Bangalore. You will need to pay at least a ₹ 1,14,770 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 Scorpio [2006-2009].

Version	On-road price in Bangalore	Max Loan
2.6 Turbo 7 Str	₹ 8,28,622	₹ 7,13,852
DX 2.6 Turbo 7 Str	₹ 9,29,507	₹ 7,82,777
SLX 2.6 Turbo 7 Str	₹ 10,02,823	₹ 8,45,118
2.6 Turbo 9 Str	₹ 8,28,622	₹ 7,13,852
DX 2.6 Turbo 8 Str	₹ 9,29,507	₹ 7,82,777
SLX 2.6 Turbo 8 Str	₹ 10,02,823	₹ 8,45,118
LX 2.6 Turbo	₹ 8,38,753	₹ 7,05,609
M2DI	₹ 8,86,926	₹ 7,37,400

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 Scorpio [2006-2009] 2.6 Turbo 7 Str will be ₹ 12,915 but you will have to pay interest of ₹ 3,71,008 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 ₹ 25,966, but your interest payment will be only ₹ 2,20,924 over the 3 years period.

₹ 14,474
Mahindra Scorpio [2006-2009] price starts from ₹ 8,28,622 in Bangalore.

We have considered
Down-payement : ₹ 1,14,770
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Scorpio [2006-2009] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 2,77,000

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 Scorpio [2006-2009] starts from ₹ 8.29 Lakh, you can get a loan with an annual income as low as ₹ 2.77 lakh.

Here are the most important things you should consider while getting a car loan for a new Scorpio [2006-2009]

• 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.