MG Astor Car Loan EMI Calculator

₹ 22,908.
Here is how - MG Astor price starts from ₹ 13,45,149 in Mumbai. If you pay a down payment of ₹ 2,15,349 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 22,908.

The cheapest Astor model is Sprint 1.5 MT (Ivory) which is priced at ₹ 13,45,149 in Mumbai. You will need to pay at least a ₹ 2,15,349 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
Sprint 1.5 MT (Ivory)	₹ 13,45,149	₹ 11,29,800
Shine 1.5 MT (Ivory)	₹ 14,83,114	₹ 12,47,800
Select 1.5 MT (Ivory)	₹ 16,39,787	₹ 13,81,800
Sharp Pro 1.5 MT (Ivory)	₹ 18,06,386	₹ 15,20,800
Select 1.5 CVT (Ivory)	₹ 17,60,215	₹ 14,84,800
Sharp Pro 1.5 CVT (Ivory)	₹ 19,49,429	₹ 16,48,800
Savvy Pro 1.5 CVT (Ivory)	₹ 20,62,899	₹ 17,45,800
Savvy Pro 1.5 CVT Sangria	₹ 20,74,596	₹ 17,55,800
Savvy Pro 1.3 Turbo AT Sangria	₹ 21,67,010	₹ 18,34,800
Sharp Pro 1.5 CVT (Ivory) Dual Tone	₹ 19,72,825	₹ 16,68,800
Savvy Pro 1.5 CVT (Ivory) Dual Tone	₹ 20,86,294	₹ 17,65,800
Savvy Pro 1.5 CVT Sangria Dual Tone	₹ 20,97,992	₹ 17,75,800
Savvy Pro 1.3 Turbo AT Sangria Dual Tone	₹ 21,90,091	₹ 18,54,800

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 Sprint 1.5 MT (Ivory) will be ₹ 20,966 but you will have to pay interest of ₹ 6,31,344 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 ₹ 42,152, but your interest payment will be only ₹ 3,87,672 over the 3 years period.

₹ 22,908
MG Astor price starts from ₹ 13,45,149 in Mumbai.

We have considered
Down-payement : ₹ 2,15,349
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 ₹ 4,49,000

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 ₹ 13.45 Lakh, you can get a loan with an annual income as low as ₹ 4.49 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.