BMW X3 Car Loan EMI Calculator

₹ 1,53,695.
Here is how - BMW X3 price starts from ₹ 90,12,164 in Mumbai. If you pay a down payment of ₹ 14,32,164 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 1,53,695.

The cheapest X3 model is xDrive20 M Sport which is priced at ₹ 90,12,164 in Mumbai. You will need to pay at least a ₹ 14,32,164 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 X3.

Version	On-road price in Mumbai	Max Loan
xDrive20 M Sport	₹ 90,12,164	₹ 75,80,000
xDrive20d M Sport	₹ 94,07,108	₹ 77,80,000

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 X3 xDrive20 M Sport will be ₹ 1,40,466 but you will have to pay interest of ₹ 42,19,144 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 ₹ 2,82,408, but your interest payment will be only ₹ 25,86,688 over the 3 years period.

₹ 1,53,695
BMW X3 price starts from ₹ 90,12,164 in Mumbai.

We have considered
Down-payement : ₹ 14,32,164
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy X3 with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 30,05,000

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 X3 starts from ₹ 90.12 Lakh, you can get a loan with an annual income as low as ₹ 30.05 lakh.

Here are the most important things you should consider while getting a car loan for a new X3

• 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.