Kia Carens Car Loan EMI Calculator

₹ 22,287.
Here is how - Kia Carens price starts from ₹ 13,03,902 in Mumbai. If you pay a down payment of ₹ 2,04,743 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 22,287.

The cheapest Carens model is Premium (O) Petrol 1.5L Manual 7 STR which is priced at ₹ 13,03,902 in Mumbai. You will need to pay at least a ₹ 2,04,743 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 Carens.

Version	On-road price in Mumbai	Max Loan
Premium (O) Petrol 1.5L Manual 7 STR	₹ 13,03,902	₹ 10,99,159
Premium (O) Diesel 1.5L Turbo Manual 7 STR	₹ 15,38,670	₹ 12,77,387
Premium (O) CNG 1.5L Manual 7 STR	₹ 13,52,087	₹ 10,99,159

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 Carens Premium (O) Petrol 1.5L Manual 7 STR will be ₹ 20,323 but you will have to pay interest of ₹ 6,07,973 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 ₹ 40,860, but your interest payment will be only ₹ 3,71,801 over the 3 years period.

₹ 22,287
Kia Carens price starts from ₹ 13,03,902 in Mumbai.

We have considered
Down-payement : ₹ 2,04,743
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Carens 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 Carens 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 Carens

• 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.