Skoda Kodiaq Car Loan EMI Calculator

₹ 81,085.
Here is how - Skoda Kodiaq price starts from ₹ 47,80,921 in Mumbai. If you pay a down payment of ₹ 7,81,921 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 81,085.

The cheapest Kodiaq model is Lounge Petrol Turbo Automatic 5 STR which is priced at ₹ 47,80,921 in Mumbai. You will need to pay at least a ₹ 7,81,921 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 Kodiaq.

Version	On-road price in Mumbai	Max Loan
Sportline Petrol Turbo Automatic 7 STR	₹ 52,53,386	₹ 43,99,000
L&K Petrol Turbo Automatic 7 STR	₹ 55,48,676	₹ 46,49,000
Lounge Petrol Turbo Automatic 5 STR	₹ 47,80,921	₹ 39,99,000

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 Kodiaq Lounge Petrol Turbo Automatic 5 STR will be ₹ 74,516 but you will have to pay interest of ₹ 22,60,344 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 ₹ 1,49,817, but your interest payment will be only ₹ 13,94,412 over the 3 years period.

₹ 81,085
Skoda Kodiaq price starts from ₹ 47,80,921 in Mumbai.

We have considered
Down-payement : ₹ 7,81,921
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 15,94,000

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 Kodiaq starts from ₹ 47.81 Lakh, you can get a loan with an annual income as low as ₹ 15.94 lakh.

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

• 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.