Honda City [2011-2014] Car Loan EMI Calculator

₹ 15,715.
Here is how - Honda City [2011-2014] price starts from ₹ 8,81,937 in Mumbai. If you pay a down payment of ₹ 1,06,895 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 15,715.

The cheapest City [2011-2014] model is 1.5 Corporate MT which is priced at ₹ 8,81,937 in Mumbai. You will need to pay at least a ₹ 1,06,895 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 City [2011-2014].

Version	On-road price in Mumbai	Max Loan
1.5 Corporate MT	₹ 8,81,937	₹ 7,75,042
1.5 E MT	₹ 9,63,349	₹ 8,47,408
1.5 S MT	₹ 10,37,444	₹ 9,13,270
1.5 V MT	₹ 10,99,978	₹ 9,68,855
1.5 V AT	₹ 11,86,088	₹ 10,36,186
1.5 V MT Sunroof	₹ 11,97,991	₹ 10,46,674
1.5 V AT Sunroof	₹ 12,86,078	₹ 11,24,283
1.5 S AT	₹ 11,13,193	₹ 9,80,602
V MT CNG Compatible	₹ 11,01,185	₹ 9,68,856
V MT AVN	₹ 11,90,850	₹ 10,40,382
V AT (AVN)	₹ 12,62,532	₹ 11,07,503

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 City [2011-2014] 1.5 Corporate MT will be ₹ 13,746 but you will have to pay interest of ₹ 3,79,622 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 ₹ 27,637, but your interest payment will be only ₹ 2,19,890 over the 3 years period.

₹ 15,715
Honda City [2011-2014] price starts from ₹ 8,81,937 in Mumbai.

We have considered
Down-payement : ₹ 1,06,895
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy City [2011-2014] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 2,94,000

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 City [2011-2014] starts from ₹ 8.82 Lakh, you can get a loan with an annual income as low as ₹ 2.94 lakh.

Here are the most important things you should consider while getting a car loan for a new City [2011-2014]

• 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.