Mercedes-Benz GL [2010-2013] Car Loan EMI Calculator

₹ 1,47,766.
Here is how - Mercedes-Benz GL [2010-2013] price starts from ₹ 90,72,598 in Mumbai. If you pay a down payment of ₹ 17,85,011 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 1,47,766.

The cheapest GL [2010-2013] model is 3.0 Grand Edition Executive which is priced at ₹ 90,72,598 in Mumbai. You will need to pay at least a ₹ 17,85,011 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 GL [2010-2013].

Version	On-road price in Mumbai	Max Loan
350 CDI BlueEFFICIENCY	₹ 1,00,36,240	₹ 77,18,421
500	₹ 1,04,80,539	₹ 82,97,753
3.0 Grand Edition Executive	₹ 90,72,598	₹ 72,87,587
3.0 Grand Edition Luxury	₹ 96,56,737	₹ 77,59,968

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 GL [2010-2013] 3.0 Grand Edition Executive will be ₹ 1,41,407 but you will have to pay interest of ₹ 45,90,601 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 ₹ 2,84,302, but your interest payment will be only ₹ 29,47,285 over the 3 years period.

₹ 1,47,766
Mercedes-Benz GL [2010-2013] price starts from ₹ 90,72,598 in Mumbai.

We have considered
Down-payement : ₹ 17,85,011
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy GL [2010-2013] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 30,25,000

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 GL [2010-2013] starts from ₹ 90.73 Lakh, you can get a loan with an annual income as low as ₹ 30.25 lakh.

Here are the most important things you should consider while getting a car loan for a new GL [2010-2013]

• 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.