Ford Fiesta [2008-2011] Car Loan EMI Calculator

₹ 11,912.
Here is how - Ford Fiesta [2008-2011] price starts from ₹ 6,54,643 in Mumbai. If you pay a down payment of ₹ 67,161 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 11,912.

The cheapest Fiesta [2008-2011] model is LE 1.6 which is priced at ₹ 6,54,643 in Mumbai. You will need to pay at least a ₹ 67,161 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 Fiesta [2008-2011].

Version	On-road price in Mumbai	Max Loan
EXi 1.4 Ltd	₹ 7,24,429	₹ 6,54,272
ZXi 1.4 Ltd	₹ 7,76,943	₹ 7,02,097
EXi 1.4 TDCi Ltd	₹ 8,51,317	₹ 7,69,830
ZXi 1.4 TDCi Ltd	₹ 9,03,831	₹ 8,17,655
S 1.6	₹ 8,83,135	₹ 7,89,270
EXi 1.6	₹ 7,68,384	₹ 6,85,646
LE 1.6	₹ 6,54,643	₹ 5,87,482
Zxi 1.6 Leather	₹ 7,65,253	₹ 6,82,819
Exi 1.6 Duratec Ltd	₹ 7,09,149	₹ 6,32,154

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 Fiesta [2008-2011] LE 1.6 will be ₹ 10,203 but you will have to pay interest of ₹ 2,69,570 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 ₹ 20,514, but your interest payment will be only ₹ 1,51,022 over the 3 years period.

₹ 11,912
Ford Fiesta [2008-2011] price starts from ₹ 6,54,643 in Mumbai.

We have considered
Down-payement : ₹ 67,161
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Fiesta [2008-2011] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 2,19,000

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 Fiesta [2008-2011] starts from ₹ 6.55 Lakh, you can get a loan with an annual income as low as ₹ 2.19 lakh.

Here are the most important things you should consider while getting a car loan for a new Fiesta [2008-2011]

• 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.