MG Astor Car Loan EMI Calculator

₹ 19,853.
Here is how - MG Astor price starts from ₹ 11,40,419 in Mumbai. If you pay a down payment of ₹ 1,61,319 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 19,853.

The cheapest Astor model is Sprint Petrol 1.5L Manual Ivory which is priced at ₹ 11,40,419 in Mumbai. You will need to pay at least a ₹ 1,61,319 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 Petrol 1.5L Manual Ivory	₹ 11,40,419	₹ 9,79,100
Shine Petrol 1.5L Manual Ivory	₹ 13,41,136	₹ 11,34,100
Select Petrol 1.5L Manual Ivory	₹ 14,64,675	₹ 12,40,100
Sharp Pro Petrol 1.5L Manual Ivory	₹ 15,77,801	₹ 13,37,100
Select Petrol 1.5L Automatic (CVT) Ivory	₹ 15,99,962	₹ 13,56,100
Sharp Pro Petrol 1.5L Automatic (CVT) Ivory	₹ 17,11,903	₹ 14,52,100
Savvy Pro Petrol 1.5L Automatic (CVT) Ivory	₹ 18,02,897	₹ 15,30,100
Savvy Pro Petrol 1.5L Automatic (CVT) Sangria	₹ 18,02,897	₹ 15,30,100
Sharp Pro Petrol 1.5L Automatic (CVT) Dual Tone Ivory	₹ 17,35,199	₹ 14,72,100
Savvy Pro Petrol 1.5L Automatic (CVT) Dual Tone Ivory	₹ 18,26,193	₹ 15,50,100
Savvy Pro Petrol 1.5L Automatic (CVT) Dual Tone Sangria	₹ 18,26,193	₹ 15,50,100

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 Petrol 1.5L Manual Ivory will be ₹ 17,775 but you will have to pay interest of ₹ 5,14,000 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 ₹ 35,737, but your interest payment will be only ₹ 3,07,432 over the 3 years period.

₹ 19,853
MG Astor price starts from ₹ 11,40,419 in Mumbai.

We have considered
Down-payement : ₹ 1,61,319
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 ₹ 3,81,000

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 ₹ 11.40 Lakh, you can get a loan with an annual income as low as ₹ 3.81 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.