MG Hector Plus Car Loan EMI Calculator

₹ 35,480.
Here is how - MG Hector Plus price starts from ₹ 21,23,049 in Mumbai. If you pay a down payment of ₹ 3,73,249 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 35,480.

The cheapest Hector Plus model is Style 2.0 Diesel 6 STR which is priced at ₹ 21,23,049 in Mumbai. You will need to pay at least a ₹ 3,73,249 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 Hector Plus.

Version	On-road price in Mumbai	Max Loan
Sharp Pro 1.5 Turbo Petrol MT 6 STR	₹ 25,78,484	₹ 21,62,300
Sharp Pro 1.5 Turbo Petrol CVT 6 STR	₹ 27,25,909	₹ 22,87,300
Savvy Pro 1.5 Turbo Petrol CVT 6 STR	₹ 28,52,106	₹ 23,94,300
Sharp Pro 1.5 Turbo Petrol 7 STR	₹ 25,78,484	₹ 21,62,300
Sharp Pro 1.5 Turbo Petrol CVT 7 STR	₹ 27,25,909	₹ 22,87,300
Savvy Pro 1.5 Turbo Petrol CVT 7 STR	₹ 28,52,106	₹ 23,94,300
Sharp Pro 1.5 Turbo Petrol 6 STR Dual Tone	₹ 26,02,072	₹ 21,82,300
Sharp Pro 1.5 Turbo Petrol CVT 6 STR Dual Tone	₹ 27,49,497	₹ 23,07,300
Savvy Pro 1.5 Turbo Petrol CVT 6 STR Dual Tone	₹ 28,75,694	₹ 24,14,300
Sharp Pro 1.5 Turbo Petrol 7 STR Dual Tone	₹ 26,02,072	₹ 21,82,300
Sharp Pro 1.5 Turbo Petrol CVT 7 STR Dual Tone	₹ 27,49,497	₹ 23,07,300
Savvy Pro 1.5 Turbo Petrol CVT 7 STR Dual Tone	₹ 28,75,694	₹ 24,14,300
Smart Pro 2.0 Turbo Diesel 6 STR	₹ 26,65,499	₹ 21,85,800
Sharp Pro 2.0 Turbo Diesel 6 STR	₹ 28,22,263	₹ 23,10,800
Sharp Pro 2.0 Turbo Diesel 7 STR	₹ 27,91,022	₹ 22,84,800
Sharp Pro 2.0 Turbo Diesel 6 STR Dual Tone	₹ 28,46,294	₹ 23,30,800
Sharp Pro 2.0 Turbo Diesel 7 STR Dual Tone	₹ 28,15,054	₹ 23,04,800
Style 2.0 Diesel 6 STR	₹ 21,23,049	₹ 17,49,800
Style 2.0 Diesel 7 STR	₹ 21,24,964	₹ 17,49,800
Select Pro 1.5 MT 7 STR	₹ 22,61,790	₹ 19,10,300
Select Pro 2.0 Diesel 7 STR	₹ 25,12,578	₹ 20,56,800
Sharp Pro Blackstorm 1.5 Turbo Petrol CVT 7 STR	₹ 27,63,651	₹ 23,19,300
Sharp Pro Blackstorm 2.0 Turbo Diesel 7 STR	₹ 28,35,480	₹ 23,21,800
Sharp Pro Blackstorm 2.0 Turbo Diesel 6 STR	₹ 28,60,713	₹ 23,42,800
100-Year Edition 1.5 Turbo Petrol 7 STR	₹ 27,13,714	₹ 22,79,800
100-Year Edition 2.0 Turbo Diesel 7 STR	₹ 28,14,603	₹ 23,07,800
Sharp Pro Snowstorm 1.5 Turbo CVT 7 STR	₹ 27,27,888	₹ 22,91,800
Sharp Pro Snowstorm 2.0 Turbo Diesel MT 7 STR	₹ 28,29,042	₹ 23,19,800
Sharp Pro Snowstorm 2.0 Turbo Diesel MT 6 STR	₹ 28,51,870	₹ 23,40,800
Select Pro 1.5 Turbo CVT Petrol 7 STR	₹ 24,29,880	₹ 20,36,300
Smart Pro 2.0 Turbo Diesel 7 STR	₹ 25,59,506	₹ 20,95,800

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 Hector Plus Style 2.0 Diesel 6 STR will be ₹ 33,090 but you will have to pay interest of ₹ 10,29,760 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 ₹ 66,529, but your interest payment will be only ₹ 6,45,244 over the 3 years period.

₹ 35,480
MG Hector Plus price starts from ₹ 21,23,049 in Mumbai.

We have considered
Down-payement : ₹ 3,73,249
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 7,08,000

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 Hector Plus starts from ₹ 21.23 Lakh, you can get a loan with an annual income as low as ₹ 7.08 lakh.

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.