BMW i4 Car Loan EMI Calculator

₹ 1,49,843.
Here is how - BMW i4 price starts from ₹ 79,23,285 in Mumbai. If you pay a down payment of ₹ 5,33,285 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 1,49,843.

The cheapest i4 model is eDrive40 which is priced at ₹ 79,23,285 in Mumbai. You will need to pay at least a ₹ 5,33,285 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 i4.

Version	On-road price in Mumbai	Max Loan
eDrive40	₹ 79,23,285	₹ 73,90,000
eDrive40 M Sport	₹ 82,86,885	₹ 77,50,000

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 i4 eDrive40 will be ₹ 1,23,494 but you will have to pay interest of ₹ 29,83,496 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 ₹ 2,48,287, but your interest payment will be only ₹ 15,48,332 over the 3 years period.

₹ 1,49,843
BMW i4 price starts from ₹ 79,23,285 in Mumbai.

We have considered
Down-payement : ₹ 5,33,285
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy i4 with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 26,42,000

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 i4 starts from ₹ 79.23 Lakh, you can get a loan with an annual income as low as ₹ 26.42 lakh.

Here are the most important things you should consider while getting a car loan for a new i4

• 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.