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MG Hector Plus Car Loan EMI Calculator

MG Hector Plus ₹ 16.25 - 29.87 Lakh

Versions Style 1.5 Petrol

City Mumbai

Adjust Hector Plus Car Loan Parameters

₹ 27,856 EMI for 5 Years

On-Road Price

₹ 16,24,976

Down Payment

₹

Loan Tenure

Loan Interest Rate

MG Hector Plus Style 1.5 Petrol Car Loan EMI

On-Road Price	₹16,24,976
Ex-Showroom Price	₹13,73,800
Max Loan Amount	₹13,73,800
Down Payment as per your Selection	₹2,51,176

Loan Amount	₹13,73,800
EMI Amount	₹27,856

Interest Component	₹2,97,560 (17.8%)
Principal Component	₹13,73,800 (82.2%)

Total Payable over 5 Years

₹ 16,71,360

Note: This doesn't include bank processing fee.

MG Hector Plus Loan Repayment Schedule

This table helps you understand, how much loan payment will be pending at the end of the each year of the loan. This way, you can arrive at the amount you will need if you decide to pre-pay your loan.

Months	Principal Paid	Interest Paid	Balance Loan
12	₹2,32,777	₹1,01,492	₹11,41,023
24	₹2,52,097	₹82,171	₹8,88,926
36	₹2,73,021	₹61,247	₹6,15,905
48	₹2,95,682	₹38,587	₹3,20,223
60	₹3,20,223	₹14,045	₹0

MG Hector Plus EMI

MG Hector Plus Car Loan EMI calculated for - Interest rate: 8%, Tenure - 5 years, Down-payment : ₹2.51 Lakh

On-Road Price in Mumbai	Down Payment	EMI
Super 1.5 Petrol Turbo Hybrid MT 7-STR ₹22,47,563	₹6,31,763*	₹32,763
Style 2.0 Diesel Turbo MT 7-STR ₹22,98,652	₹6,83,852*	₹32,742
Super 2.0 Diesel Turbo MT 7-STR ₹24,44,891	₹7,25,091*	₹34,871
Smart 1.5 Petrol Turbo DCT 6-STR ₹25,81,551	₹7,16,751*	₹37,811
Smart 1.5 Petrol Turbo CVT 6-STR ₹25,87,189	₹7,22,389*	₹37,811
Sharp 1.5 Petrol Turbo Hybrid MT 6-STR ₹26,69,394	₹7,44,594*	₹39,028
Sharp 1.5 Petrol Turbo Hybrid MT 6-STR Dual Tone ₹26,96,858	₹7,52,058*	₹39,434
Smart 2.0 Diesel Turbo MT 7-STR ₹27,23,441	₹8,03,641*	₹38,927
Smart 2.0 Diesel Turbo MT 6-STR ₹27,35,689	₹8,05,889*	₹39,129
Sharp 1.5 Petrol Turbo CVT 6-STR ₹28,27,067	₹8,02,267*	₹41,056
Sharp 1.5 Petrol Turbo DCT 6-STR ₹28,27,067	₹8,02,267*	₹41,056
Sharp 1.5 Petrol Turbo DCT 6-STR Dual Tone ₹28,54,900	₹8,10,100*	₹41,461
Select 2.0 Diesel Turbo MT 7-STR ₹28,69,295	₹8,59,495*	₹40,751
Sharp 2.0 Diesel Turbo MT 6-STR ₹29,58,683	₹8,83,883*	₹42,069
Sharp 2.0 Diesel Turbo MT 6-STR Dual Tone ₹29,86,922	₹8,92,122*	₹42,475

Car Loan EMI value of MG Hector Plus Similar Cars

Tata Harrier

₹20.9 - 31.35 Lakh

On-Road Price, Mumbai

EMI ₹29,703 @ 8% for 5 years
Tata Nexon EV

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Force Motors Gurkha

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EMI ₹29,380 @ 8% for 5 years
MG Hector

₹19.66 - 29.04 Lakh

On-Road Price, Mumbai

EMI ₹28,687 @ 8% for 5 years
Mahindra Thar

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On-Road Price, Mumbai

EMI ₹20,310 @ 8% for 5 years
Mahindra Scorpio

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FAQ’s

What is an EMI for MG Hector Plus car loan?

₹27,856.

Here is how - MG Hector Plus price starts from ₹16,24,976 in Mumbai. If you pay a down payment of ₹2,51,176 for a 5-year loan available at an 8% interest rate, your EMI amount will be ₹27,856.

What is the minimum down payment needed to buy MG Hector Plus with a loan?

The cheapest Hector Plus model is Style 1.5 Petrol which is priced at ₹27,856 in Delhi.

You will need to pay at least a ₹2,27,700 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.

What is the maximum loan I can get to buy a new MG Hector Plus?

Here is a model wise list of max loan amount for Hector Plus.

Version	On-road price Mumbai	Max Loan
Style 1.5 Petrol	1624976	1373800
Style 1.5 Petrol Turbo MT 7-STR	2031159	1465800
Style 2.0 Diesel	1810173	1489800
Super 2.0 Diesel	1898737	1569800
Style 2.0 Diesel Turbo MT 7-STR	2298652	1614800
Super 1.5 Petrol Turbo Hybrid MT 7-STR	2247563	1615800
Smart 1.5 DCT Petrol	1963763	1669800
Smart 2.0 Diesel	2077043	1719800
Super 2.0 Diesel Turbo MT 7-STR	2444891	1719800
Sharp Hybrid 1.5 Petrol	2044279	1738800
Super 2.0 Diesel Turbo MT 6-STR	2473342	1744800
Sharp 1.5 DCT Petrol	2157467	1835800
Smart 1.5 Petrol Turbo DCT 6-STR	2581551	1864800
Smart 1.5 Petrol Turbo CVT 6-STR	2587189	1864800
Sharp 2.0 Diesel	2254159	1868800
Smart 2.0 Diesel Turbo MT 7-STR	2723441	1919800
Sharp 1.5 Petrol Turbo Hybrid MT 6-STR	2669394	1924800
Smart 2.0 Diesel Turbo MT 6-STR	2735689	1929800
Sharp 1.5 Petrol Turbo Hybrid MT 6-STR Dual Tone	2696858	1944800
Select 2.0 Diesel Turbo MT 7-STR	2869295	2009800
Sharp 1.5 Petrol Turbo DCT 6-STR	2827067	2024800
Sharp 1.5 Petrol Turbo CVT 6-STR	2827067	2024800
Sharp 1.5 Petrol Turbo DCT 6-STR Dual Tone	2854900	2044800
Sharp 2.0 Diesel Turbo MT 6-STR	2958683	2074800
Sharp 2.0 Diesel Turbo MT 6-STR Dual Tone	2986922	2094800

How many years I should take a car loan?

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 Hector Plus will be ₹21,412 but you will have to pay interest of ₹4,24,808 over the period of 7 years.

2. If you select a lower tenure loan, let's say 3 years, amount will be higher at ₹65,643, but your interest payment will be only ₹2,68,348 over the period of 3 years period.

What will be the minimum monthly instalment amount to buy Hector Plus?

₹27,856.

MG Hector Plus price starts from ₹16,24,976 in Mumbai.

We have considered

Down-payment: 2,51,176

Tenure: 5 years

Interest rate: 8%

Can I get a car loan to buy a new Hector Plus?

You will need to fulfil the following 2 criteria to buy Hector Plus with a loan.

1. Age should be above 21.

2. Your annual income should be above ₹4,06,000

How much salary do I need to buy MG Hector Plus on EMI?

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 Hector Plus starts from 16,24,976, you can get a loan with an annual income as low as 4,06,000.

How to choose a car loan before buying MG Hector Plus?

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

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.

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