Ford Figo Car Loan EMI Calculator

₹ 10,605.
Here is how - Ford Figo price starts from ₹ 6,19,263 in Mumbai. If you pay a down payment of ₹ 96,263 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 10,605.

The cheapest Figo model is Ambiente 1.2 Ti-VCT [2019-2020] which is priced at ₹ 6,19,263 in Mumbai. You will need to pay at least a ₹ 96,263 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 Figo.

Version	On-road price in Mumbai	Max Loan
Ambiente 1.2 Ti-VCT [2019-2020]	₹ 6,19,263	₹ 5,23,000
Titanium 1.2 Ti-VCT MT [2019-2020]	₹ 7,07,763	₹ 5,99,900
Titanium Blu 1.2 Ti-VCT [2019-2020]	₹ 7,82,568	₹ 6,64,900
Titanium 1.5 Ti-VCT AT	₹ 9,03,408	₹ 7,69,900
Ambiente 1.5 TDCi	₹ 7,47,057	₹ 6,23,000
Titanium1.5 TDCi [2019-2020]	₹ 8,37,126	₹ 6,99,900
Titanium Blu 1.5 TDCi [2019-2020]	₹ 9,13,258	₹ 7,64,900
Ambiente 1.2 Ti-VCT	₹ 6,89,919	₹ 5,82,000
Titanium 1.2 Ti-VCT MT	₹ 8,05,009	₹ 6,82,000
Titanium Blu 1.2 Ti-VCT	₹ 8,56,800	₹ 7,27,000
Trend 1.2 Ti-VCT	₹ 7,17,926	₹ 6,09,000
Titanium1.5 TDCi	₹ 9,47,771	₹ 7,92,000
Titanium Blu 1.5 TDCi	₹ 10,03,479	₹ 8,37,000
Trend 1.5 TDCi	₹ 8,54,954	₹ 7,16,000
Titanium Plus 1.2 Ti-VCT AT	₹ 9,66,832	₹ 8,20,000
Titanium 1.2 Ti-VCT AT	₹ 9,12,042	₹ 7,75,000

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 Figo Ambiente 1.2 Ti-VCT [2019-2020] will be ₹ 9,652 but you will have to pay interest of ₹ 2,87,768 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 ₹ 19,405, but your interest payment will be only ₹ 1,75,580 over the 3 years period.

₹ 10,605
Ford Figo price starts from ₹ 6,19,263 in Mumbai.

We have considered
Down-payement : ₹ 96,263
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Figo 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 Figo starts from ₹ 6.19 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 Figo

• 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.