Toyota Hilux Car Loan EMI Calculator

₹ 61,640.
Here is how - Toyota Hilux price starts from ₹ 37,07,444 in Mumbai. If you pay a down payment of ₹ 6,67,444 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 61,640.

The cheapest Hilux model is STD 4X4 MT which is priced at ₹ 37,07,444 in Mumbai. You will need to pay at least a ₹ 6,67,444 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 Hilux.

Version	On-road price in Mumbai	Max Loan
STD 4X4 MT	₹ 37,07,444	₹ 30,40,000
High 4X4 AT	₹ 46,04,463	₹ 37,90,000
High 4X4 MT	₹ 45,14,761	₹ 37,15,000

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 Hilux STD 4X4 MT will be ₹ 57,785 but you will have to pay interest of ₹ 18,13,940 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 ₹ 1,16,178, but your interest payment will be only ₹ 11,42,408 over the 3 years period.

₹ 61,640
Toyota Hilux price starts from ₹ 37,07,444 in Mumbai.

We have considered
Down-payement : ₹ 6,67,444
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 12,36,000

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 Hilux starts from ₹ 37.07 Lakh, you can get a loan with an annual income as low as ₹ 12.36 lakh.

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

• 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.