Mahindra XUV300 TurboSport Car Loan EMI Calculator

₹ 18,867.
Here is how - Mahindra XUV300 TurboSport price starts from ₹ 10,93,331 in Mumbai. If you pay a down payment of ₹ 1,62,830 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 18,867.

The cheapest XUV300 TurboSport model is W4 which is priced at ₹ 10,93,331 in Mumbai. You will need to pay at least a ₹ 1,62,830 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 XUV300 TurboSport.

Version	On-road price in Mumbai	Max Loan
W6	₹ 12,52,431	₹ 10,50,501
W8	₹ 14,27,811	₹ 12,00,501
W8 Dual Tone	₹ 14,45,350	₹ 12,15,501
W8(O)	₹ 15,44,733	₹ 13,00,502
W8(O) Dual Tone	₹ 15,62,270	₹ 13,15,501
W4	₹ 10,93,331	₹ 9,30,501

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 XUV300 TurboSport W4 will be ₹ 17,041 but you will have to pay interest of ₹ 5,00,943 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 ₹ 34,261, but your interest payment will be only ₹ 3,02,895 over the 3 years period.

₹ 18,867
Mahindra XUV300 TurboSport price starts from ₹ 10,93,331 in Mumbai.

We have considered
Down-payement : ₹ 1,62,830
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy XUV300 TurboSport with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 3,65,000

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 XUV300 TurboSport starts from ₹ 10.93 Lakh, you can get a loan with an annual income as low as ₹ 3.65 lakh.

Here are the most important things you should consider while getting a car loan for a new XUV300 TurboSport

• 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.