Honda Jazz [2009-2011] Car Loan EMI Calculator

₹ 15,380.
Here is how - Honda Jazz [2009-2011] price starts from ₹ 8,44,157 in Mumbai. If you pay a down payment of ₹ 85,657 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 15,380.

The cheapest Jazz [2009-2011] model is Base Old which is priced at ₹ 8,44,157 in Mumbai. You will need to pay at least a ₹ 85,657 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 Jazz [2009-2011].

Version	On-road price in Mumbai	Max Loan
Base Old	₹ 8,44,157	₹ 7,58,500
Mode	₹ 8,81,821	₹ 7,92,585
Active	₹ 8,95,601	₹ 8,02,340
Select Edition Old	₹ 8,56,865	₹ 7,70,000
X Old	₹ 8,96,555	₹ 8,03,204

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 Jazz [2009-2011] Base Old will be ₹ 13,157 but you will have to pay interest of ₹ 3,46,688 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 ₹ 26,453, but your interest payment will be only ₹ 1,93,808 over the 3 years period.

₹ 15,380
Honda Jazz [2009-2011] price starts from ₹ 8,44,157 in Mumbai.

We have considered
Down-payement : ₹ 85,657
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Jazz [2009-2011] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 2,82,000

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 Jazz [2009-2011] starts from ₹ 8.44 Lakh, you can get a loan with an annual income as low as ₹ 2.82 lakh.

Here are the most important things you should consider while getting a car loan for a new Jazz [2009-2011]

• 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.