Jeep Compass Car Loan EMI Calculator

₹ 36,477.
Here is how - Jeep Compass price starts from ₹ 21,87,454 in Mumbai. If you pay a down payment of ₹ 3,88,454 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 36,477.

The cheapest Compass model is Sport 2WD Diesel 2.0L Turbo Manual which is priced at ₹ 21,87,454 in Mumbai. You will need to pay at least a ₹ 3,88,454 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 Compass.

Version	On-road price in Mumbai	Max Loan
Sport 2WD Diesel 2.0L Turbo Manual	₹ 21,87,454	₹ 17,99,000
Limited (O) 2WD Diesel 2.0L Turbo Manual	₹ 30,16,885	₹ 24,58,000
Model S (O) 2WD Diesel 2.0L Turbo Manual	₹ 32,43,512	₹ 26,45,000
Model S (O) AWD Diesel 2.0L Turbo Automatic (TC)	₹ 37,16,210	₹ 30,45,000
Longitude 2WD Diesel 2.0L Turbo Manual	₹ 25,73,482	₹ 21,05,000
Longitude (O) 2WD Diesel 2.0L Turbo Manual	₹ 28,53,446	₹ 23,38,000
Longitude 2WD Diesel 2.0L Turbo Automatic (TC)	₹ 28,21,004	₹ 23,11,000
Longitude (O) 2WD Diesel 2.0L Turbo Automatic (TC)	₹ 31,02,169	₹ 25,45,000
Model S (O) 2WD Diesel 2.0L Turbo Automatic (TC)	₹ 34,69,847	₹ 28,51,000
Limited (O) 2WD Diesel 2.0L Turbo Automatic (TC)	₹ 32,46,357	₹ 26,65,000
Trail Edition 2WD Diesel 2.0L Turbo Manual	₹ 29,05,389	₹ 23,66,000
Trail Edition 2WD Diesel 2.0L Turbo Automatic (TC)	₹ 31,30,804	₹ 25,52,000
Track Edition 2WD Diesel 2.0L Turbo Manual	₹ 32,52,365	₹ 26,70,000
Track Edition 2WD Diesel 2.0L Turbo Automatic (TC)	₹ 34,99,886	₹ 28,76,000
Track Edition AWD Diesel 2.0L Turbo Automatic (TC)	₹ 37,46,249	₹ 30,70,000

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 Compass Sport 2WD Diesel 2.0L Turbo Manual will be ₹ 34,094 but you will have to pay interest of ₹ 10,64,896 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 ₹ 68,547, but your interest payment will be only ₹ 6,68,692 over the 3 years period.

₹ 36,477
Jeep Compass price starts from ₹ 21,87,454 in Mumbai.

We have considered
Down-payement : ₹ 3,88,454
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 7,30,000

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 Compass starts from ₹ 21.87 Lakh, you can get a loan with an annual income as low as ₹ 7.30 lakh.

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

• 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.