Honda CR-V [2004-2007] Car Loan EMI Calculator

₹ 30,987.
Here is how - Honda CR-V [2004-2007] price starts from ₹ 17,96,736 in Mumbai. If you pay a down payment of ₹ 2,68,498 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 30,987.

The cheapest CR-V [2004-2007] model is 2.4 MT which is priced at ₹ 17,96,736 in Mumbai. You will need to pay at least a ₹ 2,68,498 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 CR-V [2004-2007].

Version	On-road price in Mumbai	Max Loan
2.4 AT	₹ 19,16,565	₹ 16,31,024
2.4 MT	₹ 17,96,736	₹ 15,28,238

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 CR-V [2004-2007] 2.4 MT will be ₹ 28,004 but you will have to pay interest of ₹ 8,24,098 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 ₹ 56,303, but your interest payment will be only ₹ 4,98,670 over the 3 years period.

₹ 30,987
Honda CR-V [2004-2007] price starts from ₹ 17,96,736 in Mumbai.

We have considered
Down-payement : ₹ 2,68,498
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy CR-V [2004-2007] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 5,99,000

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 CR-V [2004-2007] starts from ₹ 17.97 Lakh, you can get a loan with an annual income as low as ₹ 5.99 lakh.

Here are the most important things you should consider while getting a car loan for a new CR-V [2004-2007]

• 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.