Skoda Rapid [2011-2014] Car Loan EMI Calculator

₹ 14,761.
Here is how - Skoda Rapid [2011-2014] price starts from ₹ 8,28,142 in Mumbai. If you pay a down payment of ₹ 1,00,141 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 14,761.

The cheapest Rapid [2011-2014] model is Active 1.6 MPI MT which is priced at ₹ 8,28,142 in Mumbai. You will need to pay at least a ₹ 1,00,141 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 Rapid [2011-2014].

Version	On-road price in Mumbai	Max Loan
Active 1.6 MPI MT	₹ 8,28,142	₹ 7,28,001
Ambition 1.6 MPI MT	₹ 8,66,087	₹ 7,61,679
Elegance 1.6 MPI MT [2011-2014]	₹ 10,18,354	₹ 8,94,163
Ambition 1.6 MPI AT	₹ 9,84,631	₹ 8,64,232
Elegance 1.6 MPI AT	₹ 11,14,873	₹ 9,79,830
Active 1.6 TDI CR MT	₹ 9,82,699	₹ 8,47,473
Ambition 1.6 TDI CR MT	₹ 10,33,927	₹ 8,92,149
Elegance 1.6 TDI CR MT	₹ 11,41,219	₹ 9,85,716
Active 1.6 MPI MT Plus	₹ 8,46,614	₹ 7,44,395
Ambition 1.6 MPI MT Plus	₹ 9,34,228	₹ 8,19,496
Ambition 1.6 MPI AT Plus	₹ 10,47,141	₹ 9,19,714
Active 1.6 TDI CR MT Plus	₹ 10,05,483	₹ 8,67,343
Ambition 1.6 TDI CR MT Plus	₹ 10,77,141	₹ 9,29,834
Prestige 1.6 TDI CR MT Plus	₹ 10,92,824	₹ 9,43,512
Prestige Ambition 1.6 TDI CR MT Plus	₹ 10,71,395	₹ 9,24,823
Leisure 1.6 MPI MT	₹ 9,52,845	₹ 8,36,020
Leisure 1.6 MPI AT	₹ 10,68,693	₹ 9,38,842
Leisure 1.6 TDI CR MT Plus	₹ 11,19,562	₹ 9,66,829
Ambition 1.6 MPI MT Plus Alloy [2013-2014]	₹ 9,51,551	₹ 8,34,872
Ambition 1.6 MPI AT Plus Alloy [2013-2014]	₹ 10,64,465	₹ 9,35,090
Ambition 1.6 TDI CR MT Plus Alloy [2013-2014]	₹ 10,94,772	₹ 9,45,210
Ultima Ambition 1.6 MPI MT Plus	₹ 9,74,230	₹ 8,55,000
Ultima Ambition 1.6 MPI AT Plus	₹ 10,87,144	₹ 9,55,218
Ultima Elegance 1.6 MPI MT	₹ 10,46,123	₹ 9,18,810
Ultima Elegance 1.6 MPI AT	₹ 11,67,833	₹ 10,17,802
Ultima Ambition 1.6 TDI CR MT Plus	₹ 11,17,852	₹ 9,65,338
Ultima Elegance 1.6 TDI CR MT	₹ 11,94,998	₹ 10,23,688
Elegance 1.6 MPI MT	₹ 10,03,339	₹ 8,80,837

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 Rapid [2011-2014] Active 1.6 MPI MT will be ₹ 12,908 but you will have to pay interest of ₹ 3,56,271 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 ₹ 25,951, but your interest payment will be only ₹ 2,06,235 over the 3 years period.

₹ 14,761
Skoda Rapid [2011-2014] price starts from ₹ 8,28,142 in Mumbai.

We have considered
Down-payement : ₹ 1,00,141
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Rapid [2011-2014] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 2,77,000

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 Rapid [2011-2014] starts from ₹ 8.28 Lakh, you can get a loan with an annual income as low as ₹ 2.77 lakh.

Here are the most important things you should consider while getting a car loan for a new Rapid [2011-2014]

• 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.