BMW XM Car Loan EMI Calculator

₹ 5,27,186.
Here is how - BMW XM price starts from ₹ 3,07,94,675 in Mumbai. If you pay a down payment of ₹ 47,94,675 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 5,27,186.

The cheapest XM model is Plug-in Hybrid which is priced at ₹ 3,07,94,675 in Mumbai. You will need to pay at least a ₹ 47,94,675 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 XM.

Version	On-road price in Mumbai	Max Loan
Plug-in Hybrid	₹ 3,07,94,675	₹ 2,60,00,000

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 XM Plug-in Hybrid will be ₹ 4,79,972 but you will have to pay interest of ₹ 1,43,17,648 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 ₹ 9,64,993, but your interest payment will be only ₹ 87,39,748 over the 3 years period.

₹ 5,27,186
BMW XM price starts from ₹ 3,07,94,675 in Mumbai.

We have considered
Down-payement : ₹ 47,94,675
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 1,02,65,000

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 XM starts from ₹ 3.08 Crore, you can get a loan with an annual income as low as ₹ 1.03 crore.

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

• 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.