Toyota Innova Hycross Car Loan EMI Calculator

₹ 40,086.
Here is how - Toyota Innova Hycross price starts from ₹ 23,60,685 in Mumbai. If you pay a down payment of ₹ 3,83,685 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 40,086.

The cheapest Innova Hycross model is GX 7 STR which is priced at ₹ 23,60,685 in Mumbai. You will need to pay at least a ₹ 3,83,685 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 Innova Hycross.

Version	On-road price in Mumbai	Max Loan
GX 7 STR	₹ 23,60,685	₹ 19,77,000
GX 8 STR	₹ 23,66,540	₹ 19,82,000
VX Hybrid 7 STR	₹ 31,13,171	₹ 25,97,000
VX Hybrid 8 STR	₹ 31,19,077	₹ 26,02,000
ZX Hybrid 7 STR	₹ 36,42,599	₹ 30,34,000
ZX (O) Hybrid 7 STR	₹ 37,18,193	₹ 30,98,000
VX (O) Hybrid 7 STR	₹ 33,45,860	₹ 27,94,000
VX (O) Hybrid 8 STR	₹ 33,51,766	₹ 27,99,000
GX Limited Edition 7 STR	₹ 24,38,989	₹ 20,07,000
GX Limited Edition 8 STR	₹ 24,44,933	₹ 20,12,000
GX (O) 7 STR	₹ 25,41,488	₹ 21,13,000
GX (O) 8 STR	₹ 25,24,952	₹ 20,99,000

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 Innova Hycross GX 7 STR will be ₹ 36,794 but you will have to pay interest of ₹ 11,13,696 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 ₹ 73,975, but your interest payment will be only ₹ 6,86,100 over the 3 years period.

₹ 40,086
Toyota Innova Hycross price starts from ₹ 23,60,685 in Mumbai.

We have considered
Down-payement : ₹ 3,83,685
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 7,87,000

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 Innova Hycross starts from ₹ 23.61 Lakh, you can get a loan with an annual income as low as ₹ 7.87 lakh.

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

• 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.