Mahindra-Renault Logan [2009-2011] Car Loan EMI Calculator

₹ 10,012.
Here is how - Mahindra-Renault Logan [2009-2011] price starts from ₹ 5,49,794 in Mumbai. If you pay a down payment of ₹ 55,999 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 10,012.

The cheapest Logan [2009-2011] model is GLE 1.4 BS-IV which is priced at ₹ 5,49,794 in Mumbai. You will need to pay at least a ₹ 55,999 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 Logan [2009-2011].

Version	On-road price in Mumbai	Max Loan
Play GLX 1.4	₹ 6,23,511	₹ 5,66,076
Play DLX 1.5	₹ 7,20,744	₹ 6,54,588
Tourer GLX 1.4	₹ 6,15,821	₹ 5,59,075
DLE 1.5 dci BS-IV	₹ 6,56,263	₹ 5,90,200
DLS 1.5 ABS BS-IV	₹ 7,56,114	₹ 6,80,611
DLX 1.5 dci BS-IV	₹ 6,91,095	₹ 6,21,739
GLE 1.4 BS-IV	₹ 5,49,794	₹ 4,93,795
GLX 1.4 BS-IV	₹ 5,78,820	₹ 5,20,078
Play GLX 1.4 BS-IV	₹ 6,38,036	₹ 5,73,695
Play DLX 1.5 BS-IV	₹ 7,49,148	₹ 6,74,304
Tourer GLX 1.4 BS-IV	₹ 6,30,254	₹ 5,66,650
Tourer DLX 1.5 BS-IV	₹ 7,41,368	₹ 6,67,260

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 Logan [2009-2011] GLE 1.4 BS-IV will be ₹ 8,569 but you will have to pay interest of ₹ 2,26,001 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 ₹ 17,229, but your interest payment will be only ₹ 1,26,449 over the 3 years period.

₹ 10,012
Mahindra-Renault Logan [2009-2011] price starts from ₹ 5,49,794 in Mumbai.

We have considered
Down-payement : ₹ 55,999
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Logan [2009-2011] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 1,84,000

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 Logan [2009-2011] starts from ₹ 5.50 Lakh, you can get a loan with an annual income as low as ₹ 1.84 lakh.

Here are the most important things you should consider while getting a car loan for a new Logan [2009-2011]

• 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.