Mitsubishi Cedia [2006-2009] Car Loan EMI Calculator

₹ 18,494.
Here is how - Mitsubishi Cedia [2006-2009] price starts from ₹ 10,19,299 in Mumbai. If you pay a down payment of ₹ 1,07,219 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 18,494.

The cheapest Cedia [2006-2009] model is Select which is priced at ₹ 10,19,299 in Mumbai. You will need to pay at least a ₹ 1,07,219 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 Cedia [2006-2009].

Version	On-road price in Mumbai	Max Loan
Elegance	₹ 11,71,265	₹ 10,40,000
Sports	₹ 11,59,652	₹ 10,29,600
Select	₹ 10,19,299	₹ 9,12,080
Spirit	₹ 11,91,008	₹ 10,57,680
Select ALPG	₹ 10,56,129	₹ 9,45,360
Spirit ALPG	₹ 10,91,809	₹ 9,77,600

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 Cedia [2006-2009] Select will be ₹ 15,887 but you will have to pay interest of ₹ 4,22,428 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 ₹ 31,941, but your interest payment will be only ₹ 2,37,796 over the 3 years period.

₹ 18,494
Mitsubishi Cedia [2006-2009] price starts from ₹ 10,19,299 in Mumbai.

We have considered
Down-payement : ₹ 1,07,219
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Cedia [2006-2009] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 3,40,000

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 Cedia [2006-2009] starts from ₹ 10.19 Lakh, you can get a loan with an annual income as low as ₹ 3.40 lakh.

Here are the most important things you should consider while getting a car loan for a new Cedia [2006-2009]

• 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.