Tata Nexon EV Max Car Loan EMI Calculator

₹ 33,436.
Here is how - Tata Nexon EV Max price starts from ₹ 17,57,269 in Mumbai. If you pay a down payment of ₹ 1,08,269 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 33,436.

The cheapest Nexon EV Max model is XM 3.3 KW which is priced at ₹ 17,57,269 in Mumbai. You will need to pay at least a ₹ 1,08,269 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 Nexon EV Max.

Version	On-road price in Mumbai	Max Loan
XZ Plus 3.3 KW	₹ 18,61,879	₹ 17,49,000
XZ Plus 7.2 KW Fast Charger	₹ 19,14,117	₹ 17,99,000
XZ Plus Lux 3.3 KW [2022-2023]	₹ 19,66,355	₹ 18,49,000
XZ Plus Lux 7.2 KW Fast Charger [2022-2023]	₹ 20,18,595	₹ 18,99,000
XZ Plus Lux 3.3 KW Jet	₹ 20,72,028	₹ 19,54,000
XZ Plus Lux 7.2 KW Fast Charger Jet	₹ 21,24,368	₹ 20,04,000
XM 3.3 KW	₹ 17,57,269	₹ 16,49,000
XM 7.2 KW Fast Charger	₹ 18,09,641	₹ 16,99,000
XZ Plus Lux 3.3 KW Dark Edition	₹ 20,23,740	₹ 19,04,000
XZ Plus Lux 7.2 kW Fast Charger Dark Edition	₹ 20,75,979	₹ 19,54,000
XZ Plus Lux 3.3 KW	₹ 19,98,124	₹ 18,79,000
XZ Plus Lux 7.2 KW Fast Charger	₹ 20,50,363	₹ 19,29,000

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 Nexon EV Max XM 3.3 KW will be ₹ 27,389 but you will have to pay interest of ₹ 6,51,676 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 ₹ 55,066, but your interest payment will be only ₹ 3,33,376 over the 3 years period.

₹ 33,436
Tata Nexon EV Max price starts from ₹ 17,57,269 in Mumbai.

We have considered
Down-payement : ₹ 1,08,269
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Nexon EV Max with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 5,86,000

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 Nexon EV Max starts from ₹ 17.57 Lakh, you can get a loan with an annual income as low as ₹ 5.86 lakh.

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

• 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.