Hyundai i20 [2008-2010] Car Loan EMI Calculator

₹ 10,795.
Here is how - Hyundai i20 [2008-2010] price starts from ₹ 6,04,941 in Mumbai. If you pay a down payment of ₹ 72,561 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 10,795.

The cheapest i20 [2008-2010] model is Magna 1.2 which is priced at ₹ 6,04,941 in Mumbai. You will need to pay at least a ₹ 72,561 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 i20 [2008-2010].

Version	On-road price in Mumbai	Max Loan
Magna 1.2	₹ 6,04,941	₹ 5,32,380
Asta 1.2	₹ 7,61,237	₹ 6,71,309
Asta 1.2 (O)	₹ 7,21,882	₹ 6,47,844
Magna 1.4 CRDI 6 Speed	₹ 7,63,897	₹ 6,61,906
Asta 1.4 CRDI 6 Speed	₹ 9,25,356	₹ 8,00,298
Asta 1.4 (O) With Sunroof Diesel	₹ 8,57,050	₹ 7,70,167
Asta 1.4 (AT)	₹ 9,08,214	₹ 8,13,755
Asta 1.4 AT (O) with sunroof	₹ 9,19,431	₹ 8,23,906
Asta 1.2 (O) With Sunroof	₹ 8,14,079	₹ 7,18,280
Era 1.4 CRDI 6 Speed BS-IV	₹ 7,35,235	₹ 6,36,874
Sportz 1.4 CRDI 6 Speed BS-IV	₹ 8,67,378	₹ 7,52,282
Sportz 1.2 BS-IV	₹ 7,07,163	₹ 6,23,244
Sportz 1.2 (O)	₹ 6,16,865	₹ 5,52,807
Sportz 1.4 CRDI 6 Speed (O)	₹ 7,45,991	₹ 6,69,663

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 i20 [2008-2010] Magna 1.2 will be ₹ 9,429 but you will have to pay interest of ₹ 2,59,656 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 ₹ 18,957, but your interest payment will be only ₹ 1,50,072 over the 3 years period.

₹ 10,795
Hyundai i20 [2008-2010] price starts from ₹ 6,04,941 in Mumbai.

We have considered
Down-payement : ₹ 72,561
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy i20 [2008-2010] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 2,02,000

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 i20 [2008-2010] starts from ₹ 6.05 Lakh, you can get a loan with an annual income as low as ₹ 2.02 lakh.

Here are the most important things you should consider while getting a car loan for a new i20 [2008-2010]

• 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.