Tata Nexon EV Car Loan EMI Calculator

₹ 25,325.
Here is how - Tata Nexon EV price starts from ₹ 13,22,045 in Mumbai. If you pay a down payment of ₹ 73,045 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 25,325.

The cheapest Nexon EV model is Creative Plus Medium Range which is priced at ₹ 13,22,045 in Mumbai. You will need to pay at least a ₹ 73,045 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.

Version	On-road price in Mumbai	Max Loan
Creative Plus Medium Range	₹ 13,22,045	₹ 12,49,000
Fearless Medium Range	₹ 14,04,696	₹ 13,29,000
Fearless Plus Medium Range	₹ 14,57,864	₹ 13,79,000
Fearless Plus (S) Medium Range	₹ 15,10,116	₹ 14,29,000
Empowered Medium Range	₹ 15,62,369	₹ 14,79,000
Creative 45	₹ 14,77,015	₹ 13,99,000
Fearless 45	₹ 15,80,329	₹ 14,99,000
Empowered 45	₹ 16,83,643	₹ 15,99,000
Empowered Plus 45	₹ 17,86,957	₹ 16,99,000
Empowered Plus 45 Red Dark Edition	₹ 18,07,619	₹ 17,19,000
Empowered Plus A 45	₹ 18,34,997	₹ 17,29,000
Empowered Plus A 45 Dark Edition	₹ 18,55,933	₹ 17,49,000
Empowered Plus A 45 Red Dark Edition	₹ 18,55,933	₹ 17,49,000

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 Creative Plus Medium Range will be ₹ 20,606 but you will have to pay interest of ₹ 4,81,904 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 ₹ 41,428, but your interest payment will be only ₹ 2,42,408 over the 3 years period.

₹ 25,325
Tata Nexon EV price starts from ₹ 13,22,045 in Mumbai.

We have considered
Down-payement : ₹ 73,045
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 4,41,000

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 starts from ₹ 13.22 Lakh, you can get a loan with an annual income as low as ₹ 4.41 lakh.

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

• 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.