Mercedes-Benz C-Class [2003-2007] Car Loan EMI Calculator

₹ 54,217.
Here is how - Mercedes-Benz C-Class [2003-2007] price starts from ₹ 28,83,572 in Mumbai. If you pay a down payment of ₹ 2,09,695 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 54,217.

The cheapest C-Class [2003-2007] model is 200 K MT which is priced at ₹ 28,83,572 in Mumbai. You will need to pay at least a ₹ 2,09,695 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 C-Class [2003-2007].

Version	On-road price in Mumbai	Max Loan
200 K MT	₹ 28,83,572	₹ 26,73,877
220 CDI MT	₹ 31,46,917	₹ 29,17,153
200 K AT	₹ 30,54,384	₹ 28,32,785
220 CDI AT	₹ 33,18,224	₹ 30,76,555

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 C-Class [2003-2007] 200 K MT will be ₹ 44,944 but you will have to pay interest of ₹ 11,01,419 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 ₹ 90,361, but your interest payment will be only ₹ 5,79,119 over the 3 years period.

₹ 54,217
Mercedes-Benz C-Class [2003-2007] price starts from ₹ 28,83,572 in Mumbai.

We have considered
Down-payement : ₹ 2,09,695
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy C-Class [2003-2007] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 9,62,000

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 C-Class [2003-2007] starts from ₹ 28.84 Lakh, you can get a loan with an annual income as low as ₹ 9.62 lakh.

Here are the most important things you should consider while getting a car loan for a new C-Class [2003-2007]

• 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.