Renault Lodgy Car Loan EMI Calculator

₹ 18,314.
Here is how - Renault Lodgy price starts from ₹ 10,73,854 in Lonavla. If you pay a down payment of ₹ 1,70,655 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 18,314.

The cheapest Lodgy model is 85 PS STD 8 STR which is priced at ₹ 10,73,854 in Lonavla. You will need to pay at least a ₹ 1,70,655 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 Lodgy.

Version	On-road price in Lonavla	Max Loan
85 PS RxE 8 STR	₹ 11,86,701	₹ 9,99,999
85 PS STD 8 STR	₹ 10,73,854	₹ 9,03,199
85 PS RxE 7 STR	₹ 11,86,701	₹ 9,99,999
110 PS World Edition 8 STR	₹ 12,99,040	₹ 10,87,799
85 PS World Edition 8 STR	₹ 12,04,178	₹ 10,07,699
85 PS RXL Stepway 8 STR	₹ 13,20,871	₹ 10,98,599
85 PS RXZ Stepway 8 STR	₹ 14,11,391	₹ 11,75,099
110 PS RXL Stepway 8 STR	₹ 13,53,537	₹ 11,18,499
110 PS RXZ Stepway 8 STR	₹ 15,07,000	₹ 12,55,899
110 PS RXZ Stepway 7 STR	₹ 15,07,000	₹ 12,55,899

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 Lodgy 85 PS STD 8 STR will be ₹ 16,737 but you will have to pay interest of ₹ 5,02,709 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 ₹ 33,651, but your interest payment will be only ₹ 3,08,237 over the 3 years period.

₹ 18,314
Renault Lodgy price starts from ₹ 10,73,854 in Lonavla.

We have considered
Down-payement : ₹ 1,70,655
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 3,58,000

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 Lodgy starts from ₹ 10.74 Lakh, you can get a loan with an annual income as low as ₹ 3.58 lakh.

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

• 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.