Honda BR-V Car Loan EMI Calculator

₹ 19,629.
Here is how - Honda BR-V price starts from ₹ 11,15,441 in Mumbai. If you pay a down payment of ₹ 1,47,392 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 19,629.

The cheapest BR-V model is E Petrol which is priced at ₹ 11,15,441 in Mumbai. You will need to pay at least a ₹ 1,47,392 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 BR-V.

Version	On-road price in Mumbai	Max Loan
E Petrol	₹ 11,15,441	₹ 9,68,049
E Diesel	₹ 12,32,974	₹ 10,38,685
S Petrol	₹ 12,71,469	₹ 10,88,549
S Diesel	₹ 14,27,455	₹ 12,02,549
V Petrol	₹ 13,79,861	₹ 11,82,549
V Diesel	₹ 15,28,377	₹ 12,88,550
VX Petrol [2016-2017]	₹ 14,86,511	₹ 12,67,500
VX Diesel [2016-2017]	₹ 16,43,911	₹ 13,79,000
V CVT Petrol	₹ 15,16,503	₹ 13,01,049
VX Petrol	₹ 14,99,782	₹ 12,86,548
VX Diesel	₹ 16,56,874	₹ 13,98,049
S Petrol Style Edition	₹ 12,50,484	₹ 10,70,000
V Petrol Style Edition	₹ 13,58,299	₹ 11,63,500
VX Petrol Style Edition	₹ 14,78,222	₹ 12,67,500
V CVT Petrol Style Edition	₹ 14,95,519	₹ 12,82,500
S Diesel Style Edition	₹ 14,05,505	₹ 11,83,500
V Diesel Style Edition	₹ 15,07,013	₹ 12,70,000
VX Diesel Style Edition	₹ 16,34,925	₹ 13,79,000

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 BR-V E Petrol will be ₹ 17,386 but you will have to pay interest of ₹ 4,92,375 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 ₹ 34,954, but your interest payment will be only ₹ 2,90,295 over the 3 years period.

₹ 19,629
Honda BR-V price starts from ₹ 11,15,441 in Mumbai.

We have considered
Down-payement : ₹ 1,47,392
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy BR-V with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 3,72,000

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 BR-V starts from ₹ 11.15 Lakh, you can get a loan with an annual income as low as ₹ 3.72 lakh.

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

• 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.