Honda WR-V Car Loan EMI Calculator

₹ 18,815.
Here is how - Honda WR-V price starts from ₹ 10,80,709 in Mumbai. If you pay a down payment of ₹ 1,52,780 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 18,815.

The cheapest WR-V model is SV MT Petrol which is priced at ₹ 10,80,709 in Mumbai. You will need to pay at least a ₹ 1,52,780 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 WR-V.

Version	On-road price in Mumbai	Max Loan
SV MT Petrol	₹ 10,80,709	₹ 9,27,929
VX MT Petrol	₹ 11,62,928	₹ 9,99,736
SV MT Diesel	₹ 13,71,766	₹ 11,41,056
VX MT Diesel	₹ 14,89,453	₹ 12,40,269
Exclusive Edition Petrol	₹ 11,60,571	₹ 9,92,366
Exclusive Edition Diesel	₹ 13,45,230	₹ 11,14,513

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 WR-V SV MT Petrol will be ₹ 16,844 but you will have to pay interest of ₹ 4,86,967 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 ₹ 33,865, but your interest payment will be only ₹ 2,91,211 over the 3 years period.

₹ 18,815
Honda WR-V price starts from ₹ 10,80,709 in Mumbai.

We have considered
Down-payement : ₹ 1,52,780
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy WR-V with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 3,61,000

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 WR-V starts from ₹ 10.81 Lakh, you can get a loan with an annual income as low as ₹ 3.61 lakh.

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

• 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.