Honda Jazz Car Loan EMI Calculator

₹ 16,619.
Here is how - Honda Jazz price starts from ₹ 9,55,214 in Mumbai. If you pay a down payment of ₹ 1,35,584 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 16,619.

The cheapest Jazz model is V which is priced at ₹ 9,55,214 in Mumbai. You will need to pay at least a ₹ 1,35,584 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.

Version	On-road price in Mumbai	Max Loan
V	₹ 9,55,214	₹ 8,19,630
VX	₹ 10,34,670	₹ 8,89,029
ZX	₹ 11,07,950	₹ 9,53,029
V CVT	₹ 10,89,514	₹ 9,36,929
VX CVT	₹ 11,49,170	₹ 9,89,029
ZX CVT	₹ 12,31,466	₹ 10,42,329

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 V will be ₹ 14,888 but you will have to pay interest of ₹ 4,30,962 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 ₹ 29,933, but your interest payment will be only ₹ 2,57,958 over the 3 years period.

₹ 16,619
Honda Jazz price starts from ₹ 9,55,214 in Mumbai.

We have considered
Down-payement : ₹ 1,35,584
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 3,19,000

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 starts from ₹ 9.55 Lakh, you can get a loan with an annual income as low as ₹ 3.19 lakh.

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

• 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.