Mercedes-Benz E-Class [2003-2006] Car Loan EMI Calculator

₹ 76,916.
Here is how - Mercedes-Benz E-Class [2003-2006] price starts from ₹ 40,91,350 in Mumbai. If you pay a down payment of ₹ 2,97,951 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 76,916.

The cheapest E-Class [2003-2006] model is 200 K Classic which is priced at ₹ 40,91,350 in Mumbai. You will need to pay at least a ₹ 2,97,951 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 E-Class [2003-2006].

Version	On-road price in Mumbai	Max Loan
200 K Classic	₹ 40,91,350	₹ 37,93,399

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 E-Class [2003-2006] 200 K Classic will be ₹ 63,769 but you will have to pay interest of ₹ 15,63,197 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 ₹ 1,28,208, but your interest payment will be only ₹ 8,22,089 over the 3 years period.

₹ 76,916
Mercedes-Benz E-Class [2003-2006] price starts from ₹ 40,91,350 in Mumbai.

We have considered
Down-payement : ₹ 2,97,951
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy E-Class [2003-2006] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 13,64,000

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 E-Class [2003-2006] starts from ₹ 40.91 Lakh, you can get a loan with an annual income as low as ₹ 13.64 lakh.

Here are the most important things you should consider while getting a car loan for a new E-Class [2003-2006]

• 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.