Volkswagen Polo [2010-2012] Car Loan EMI Calculator

₹ 12,060.
Here is how - Volkswagen Polo [2010-2012] price starts from ₹ 6,93,720 in Hyderabad. If you pay a down payment of ₹ 98,930 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 12,060.

The cheapest Polo [2010-2012] model is Highline 1.6L (P) which is priced at ₹ 6,93,720 in Hyderabad. You will need to pay at least a ₹ 98,930 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 Polo [2010-2012].

Version	On-road price in Hyderabad	Max Loan
Highline 1.6L (P)	₹ 6,93,720	₹ 5,94,790
Highline1.2L D	₹ 8,71,686	₹ 7,49,499

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 Polo [2010-2012] Highline 1.6L (P) will be ₹ 10,812 but you will have to pay interest of ₹ 3,13,418 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 ₹ 21,739, but your interest payment will be only ₹ 1,87,814 over the 3 years period.

₹ 12,060
Volkswagen Polo [2010-2012] price starts from ₹ 6,93,720 in Hyderabad.

We have considered
Down-payement : ₹ 98,930
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Polo [2010-2012] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 2,32,000

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 Polo [2010-2012] starts from ₹ 6.94 Lakh, you can get a loan with an annual income as low as ₹ 2.32 lakh.

Here are the most important things you should consider while getting a car loan for a new Polo [2010-2012]

• 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.