BMW 3 Series [2009-2010] Car Loan EMI Calculator

₹ 70,086.
Here is how - BMW 3 Series [2009-2010] price starts from ₹ 40,57,613 in Mumbai. If you pay a down payment of ₹ 6,01,057 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 70,086.

The cheapest 3 Series [2009-2010] model is 320d Highline Sedan which is priced at ₹ 40,57,613 in Mumbai. You will need to pay at least a ₹ 6,01,057 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 3 Series [2009-2010].

Version	On-road price in Mumbai	Max Loan
320d Highline Sedan	₹ 40,57,613	₹ 34,56,556

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 3 Series [2009-2010] 320d Highline Sedan will be ₹ 63,243 but you will have to pay interest of ₹ 18,55,856 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 ₹ 1,27,151, but your interest payment will be only ₹ 11,20,880 over the 3 years period.

₹ 70,086
BMW 3 Series [2009-2010] price starts from ₹ 40,57,613 in Mumbai.

We have considered
Down-payement : ₹ 6,01,057
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy 3 Series [2009-2010] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 13,53,000

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 3 Series [2009-2010] starts from ₹ 40.58 Lakh, you can get a loan with an annual income as low as ₹ 13.53 lakh.

Here are the most important things you should consider while getting a car loan for a new 3 Series [2009-2010]

• 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.