Hyundai Verna Car Loan EMI Calculator

₹ 22,312.
Here is how - Hyundai Verna price starts from ₹ 13,03,872 in Mumbai. If you pay a down payment of ₹ 2,03,472 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 22,312.

The cheapest Verna model is EX 1.5 Petrol MT which is priced at ₹ 13,03,872 in Mumbai. You will need to pay at least a ₹ 2,03,472 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 Verna.

Version	On-road price in Mumbai	Max Loan
EX 1.5 Petrol MT	₹ 13,03,872	₹ 11,00,400
SX 1.5 Petrol IVT	₹ 16,93,102	₹ 14,27,400
SX 1.5 Turbo Petrol DCT	₹ 19,12,900	₹ 16,11,900
SX 1.5 Turbo Petrol MT	₹ 17,63,254	₹ 14,87,400
S 1.5 Petrol MT	₹ 14,19,501	₹ 11,99,400
SX 1.5 Petrol MT	₹ 15,39,802	₹ 13,02,400
SX (O)1.5 Petrol MT	₹ 17,35,320	₹ 14,69,800
SX (O) 1.5 Petrol IVT	₹ 19,14,719	₹ 16,23,400
SX (O) 1.5 Turbo Petrol MT	₹ 18,90,660	₹ 16,02,800
SX (O) 1.5 Turbo Petrol DCT	₹ 20,64,780	₹ 17,41,800
SX 1.5 Turbo Petrol MT Dual Tone	₹ 17,55,876	₹ 14,87,400
SX 1.5 Turbo Petrol DCT Dual Tone	₹ 19,01,288	₹ 16,11,900
SX (O) 1.5 Turbo Petrol MT Dual Tone	₹ 18,90,660	₹ 16,02,800
SX (O) 1.5 Turbo Petrol DCT Dual Tone	₹ 20,53,008	₹ 17,41,800

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 Verna EX 1.5 Petrol MT will be ₹ 20,322 but you will have to pay interest of ₹ 6,06,648 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 ₹ 40,859, but your interest payment will be only ₹ 3,70,524 over the 3 years period.

₹ 22,312
Hyundai Verna price starts from ₹ 13,03,872 in Mumbai.

We have considered
Down-payement : ₹ 2,03,472
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 4,35,000

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 Verna starts from ₹ 13.04 Lakh, you can get a loan with an annual income as low as ₹ 4.35 lakh.

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

• 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.