Chevrolet Sail Car Loan EMI Calculator

₹ 10,697.
Here is how - Chevrolet Sail price starts from ₹ 6,18,458 in Mumbai. If you pay a down payment of ₹ 90,904 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 10,697.

The cheapest Sail model is 1.2 Base which is priced at ₹ 6,18,458 in Mumbai. You will need to pay at least a ₹ 90,904 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 Sail.

Version	On-road price in Mumbai	Max Loan
1.2 Base	₹ 6,18,458	₹ 5,27,554
1.2 LS	₹ 6,70,939	₹ 5,73,317
1.2 LS ABS	₹ 7,26,835	₹ 6,22,058
1.2 LT ABS	₹ 7,88,961	₹ 6,76,231
1.3 Base	₹ 8,62,806	₹ 7,21,346
1.3 LS	₹ 9,13,247	₹ 7,64,518
1.3 LS ABS	₹ 8,42,339	₹ 7,10,302
1.3 LT ABS	₹ 10,27,108	₹ 8,61,971

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 Sail 1.2 Base will be ₹ 9,639 but you will have to pay interest of ₹ 2,82,122 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 ₹ 19,380, but your interest payment will be only ₹ 1,70,126 over the 3 years period.

₹ 10,697
Chevrolet Sail price starts from ₹ 6,18,458 in Mumbai.

We have considered
Down-payement : ₹ 90,904
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 2,07,000

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 Sail starts from ₹ 6.18 Lakh, you can get a loan with an annual income as low as ₹ 2.07 lakh.

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

• 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.