Skoda Laura [2005-2009] Car Loan EMI Calculator

₹ 27,461.
Here is how - Skoda Laura [2005-2009] price starts from ₹ 15,08,646 in Mumbai. If you pay a down payment of ₹ 1,54,295 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 27,461.

The cheapest Laura [2005-2009] model is Ambiente 1.9 PD which is priced at ₹ 15,08,646 in Mumbai. You will need to pay at least a ₹ 1,54,295 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 Laura [2005-2009].

Version	On-road price in Mumbai	Max Loan
L&K 1.9 PD MT	₹ 18,36,656	₹ 16,50,912
L&K 1.9 PD AT	₹ 18,99,092	₹ 17,07,362
Elegance 1.9 PD	₹ 16,72,073	₹ 15,02,109
Ambiente 1.9 PD	₹ 15,08,646	₹ 13,54,351

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 Laura [2005-2009] Ambiente 1.9 PD will be ₹ 23,514 but you will have to pay interest of ₹ 6,20,825 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 ₹ 47,275, but your interest payment will be only ₹ 3,47,549 over the 3 years period.

₹ 27,461
Skoda Laura [2005-2009] price starts from ₹ 15,08,646 in Mumbai.

We have considered
Down-payement : ₹ 1,54,295
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Laura [2005-2009] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 5,03,000

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 Laura [2005-2009] starts from ₹ 15.09 Lakh, you can get a loan with an annual income as low as ₹ 5.03 lakh.

Here are the most important things you should consider while getting a car loan for a new Laura [2005-2009]

• 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.