MG Astor Car Loan EMI Calculator

₹ 21,327.
Here is how - MG Astor price starts from ₹ 12,50,182 in Mumbai. If you pay a down payment of ₹ 1,98,382 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 21,327.

The cheapest Astor model is Style EX 1.5 MT which is priced at ₹ 12,50,182 in Mumbai. You will need to pay at least a ₹ 1,98,382 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 Astor.

Version	On-road price in Mumbai	Max Loan
Style 1.5 MT	₹ 12,57,428	₹ 10,58,000
Super 1.5 CVT	₹ 16,18,249	₹ 13,68,000
Smart 1.3 Turbo AT	₹ 19,80,489	₹ 16,78,000
Super 1.5 MT	₹ 14,46,787	₹ 12,25,800
Smart 1.5 MT	₹ 16,43,036	₹ 13,88,000
Sharp 1.5 MT	₹ 17,59,886	₹ 14,88,000
Smart 1.5 CVT	₹ 17,83,256	₹ 15,08,000
Sharp 1.5 CVT	₹ 18,76,738	₹ 15,88,000
Sharp 1.3 Turbo AT	₹ 20,87,755	₹ 17,69,800
Savvy 1.3 Turbo AT S Red	₹ 21,74,474	₹ 18,42,800
Savvy 1.5 CVT S Red	₹ 19,95,992	₹ 16,89,800
Savvy 1.5 CVT	₹ 19,84,006	₹ 16,79,800
Style EX 1.5 MT	₹ 12,50,182	₹ 10,51,800
Super EX 1.5 MT	₹ 14,45,076	₹ 12,19,800
Smart EX 1.5 MT	₹ 16,35,790	₹ 13,81,800
Sharp EX 1.5 MT	₹ 17,45,634	₹ 14,75,800
Sharp 1.5 MT Sangria	₹ 17,71,574	₹ 14,98,000
Sharp 1.5 CVT Sangaria	₹ 18,88,423	₹ 15,98,000

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 Astor Style EX 1.5 MT will be ₹ 19,486 but you will have to pay interest of ₹ 5,85,024 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 ₹ 39,176, but your interest payment will be only ₹ 3,58,536 over the 3 years period.

₹ 21,327
MG Astor price starts from ₹ 12,50,182 in Mumbai.

We have considered
Down-payement : ₹ 1,98,382
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 4,17,000

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 Astor starts from ₹ 12.50 Lakh, you can get a loan with an annual income as low as ₹ 4.17 lakh.

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

• 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.