Mahindra XUV300 TurboSport Car Loan EMI Calculator

₹ 21,724.
Here is how - Mahindra XUV300 TurboSport price starts from ₹ 12,59,677 in Mumbai. If you pay a down payment of ₹ 1,88,277 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 21,724.

The cheapest XUV300 TurboSport model is W6 which is priced at ₹ 12,59,677 in Mumbai. You will need to pay at least a ₹ 1,88,277 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	₹ 12,59,677	₹ 10,71,400
W8	₹ 14,11,281	₹ 12,02,300
W8 Dual Tone	₹ 14,25,640	₹ 12,14,699
W8(O)	₹ 15,45,280	₹ 13,18,000
W8(O) Dual Tone	₹ 15,59,642	₹ 13,30,400

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 W6 will be ₹ 19,634 but you will have to pay interest of ₹ 5,77,856 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 ₹ 39,474, but your interest payment will be only ₹ 3,49,664 over the 3 years period.

₹ 21,724
Mahindra XUV300 TurboSport price starts from ₹ 12,59,677 in Mumbai.

We have considered
Down-payement : ₹ 1,88,277
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 ₹ 4,20,000

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 ₹ 12.60 Lakh, you can get a loan with an annual income as low as ₹ 4.20 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.