Honda Civic Car Loan EMI Calculator

₹ 36,584.
Here is how - Honda Civic price starts from ₹ 21,16,102 in Mumbai. If you pay a down payment of ₹ 3,11,842 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 36,584.

The cheapest Civic model is V CVT Petrol [2019-2020] which is priced at ₹ 21,16,102 in Mumbai. You will need to pay at least a ₹ 3,11,842 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 Civic.

Version	On-road price in Mumbai	Max Loan
V CVT Petrol [2019-2020]	₹ 21,16,102	₹ 18,04,260
VX Diesel [2019-2020]	₹ 24,80,534	₹ 20,65,260
VX CVT Petrol [2019-2020]	₹ 22,90,379	₹ 19,55,259
ZX CVT Petrol [2019-2020]	₹ 25,19,907	₹ 21,35,260
ZX Diesel [2019-2020]	₹ 26,93,790	₹ 22,45,259
V CVT Petrol	₹ 21,27,500	₹ 18,04,260
VX CVT Petrol	₹ 23,08,908	₹ 19,55,259
ZX CVT Petrol	₹ 25,39,750	₹ 21,35,260
VX MT Diesel	₹ 25,23,704	₹ 20,85,258
ZX MT Diesel	₹ 27,14,430	₹ 22,45,257

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 Civic V CVT Petrol [2019-2020] will be ₹ 32,982 but you will have to pay interest of ₹ 9,66,228 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 ₹ 66,311, but your interest payment will be only ₹ 5,82,936 over the 3 years period.

₹ 36,584
Honda Civic price starts from ₹ 21,16,102 in Mumbai.

We have considered
Down-payement : ₹ 3,11,842
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Civic with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 7,06,000

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 Civic starts from ₹ 21.16 Lakh, you can get a loan with an annual income as low as ₹ 7.06 lakh.

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

• 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.