Honda City Hybrid eHEV Car Loan EMI Calculator

₹ 38,730.
Here is how - Honda City Hybrid eHEV price starts from ₹ 22,61,544 in Mumbai. If you pay a down payment of ₹ 3,51,434 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 38,730.

The cheapest City Hybrid eHEV model is V which is priced at ₹ 22,61,544 in Mumbai. You will need to pay at least a ₹ 3,51,434 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 Hybrid eHEV.

Version	On-road price in Mumbai	Max Loan
V	₹ 22,61,544	₹ 19,10,110
ZX	₹ 24,57,935	₹ 20,60,110
ZX 2024	₹ 24,63,832	₹ 20,65,110

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 Hybrid eHEV V will be ₹ 35,249 but you will have to pay interest of ₹ 10,50,806 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 ₹ 70,869, but your interest payment will be only ₹ 6,41,174 over the 3 years period.

₹ 38,730
Honda City Hybrid eHEV price starts from ₹ 22,61,544 in Mumbai.

We have considered
Down-payement : ₹ 3,51,434
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy City Hybrid eHEV with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 7,54,000

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 Hybrid eHEV starts from ₹ 22.62 Lakh, you can get a loan with an annual income as low as ₹ 7.54 lakh.

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

• 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.