Toyota Innova [2012-2013] Car Loan EMI Calculator

₹ 18,432.
Here is how - Toyota Innova [2012-2013] price starts from ₹ 9,09,061 in Mumbai. If you pay a down payment of ₹ 0 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 18,432.

Here is a model wise list of max loan amount for Innova [2012-2013].

Version	On-road price in Mumbai	Max Loan
2.5 E PS 8 STR BS-IV	₹ 12,58,677	₹ 10,76,985
2.5 E PS 7 STR BS-IV	₹ 12,64,192	₹ 10,81,752
2.5 GX 7 STR BS-IV	₹ 14,94,359	₹ 12,80,685
2.5 GX 8 STR BS-IV	₹ 14,65,097	₹ 12,97,674
2.5 VX 8 STR BS-IV	₹ 17,78,757	₹ 15,26,490
2.5 VX 7 STR BS-IV	₹ 17,02,824	₹ 15,09,930
2.5 E MS 7 STR BS-IV	₹ 10,61,885	₹ 9,17,856
2.5 E MS 8 STR BS-IV	₹ 10,56,964	₹ 9,13,566
2.5 E PS 7 STR BS-III	₹ 12,30,321	₹ 10,55,502
2.5 E PS 8 STR BS-III	₹ 12,24,805	₹ 10,50,735
2.5 GX 8 STR BS-III	₹ 14,10,436	₹ 12,11,175
2.5 GX 7 STR BS-III	₹ 14,60,487	₹ 12,54,435
2.5 VX 8 STR BS-III	₹ 17,44,886	₹ 15,00,240
2.5 VX 7 STR BS-III	₹ 16,44,358	₹ 14,13,354

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 Innova [2012-2013] 2.5 E MS 8 STR BS-III will be ₹ 14,169 but you will have to pay interest of ₹ 2,81,135 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 ₹ 28,487, but your interest payment will be only ₹ 1,16,471 over the 3 years period.

₹ 18,432
Toyota Innova [2012-2013] price starts from ₹ 9,09,061 in Mumbai.

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

You will need to fulfill the following 2 criteria to buy Innova [2012-2013] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 3,04,000

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 Innova [2012-2013] starts from ₹ 9.09 Lakh, you can get a loan with an annual income as low as ₹ 3.04 lakh.

Here are the most important things you should consider while getting a car loan for a new Innova [2012-2013]

• 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.