Honda Accord [2008-2011] Car Loan EMI Calculator

₹ 38,007.
Here is how - Honda Accord [2008-2011] price starts from ₹ 18,74,470 in Pune. If you pay a down payment of ₹ 0 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 38,007.

Here is a model wise list of max loan amount for Accord [2008-2011].

Version	On-road price in Pune	Max Loan
2.4 Elegance MT	₹ 19,14,381	₹ 17,22,100
2.4 Elegance AT	₹ 19,98,935	₹ 17,98,500
2.4 Inspire MT	₹ 19,16,706	₹ 17,22,100
2.4 Inspire AT	₹ 20,01,260	₹ 17,98,500

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 Accord [2008-2011] 2.4 MT will be ₹ 29,216 but you will have to pay interest of ₹ 5,79,674 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 ₹ 58,739, but your interest payment will be only ₹ 2,40,134 over the 3 years period.

₹ 38,007
Honda Accord [2008-2011] price starts from ₹ 18,74,470 in Pune.

We have considered
Down-payement : ₹ 0
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Accord [2008-2011] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 6,25,000

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 Accord [2008-2011] starts from ₹ 18.74 Lakh, you can get a loan with an annual income as low as ₹ 6.25 lakh.

Here are the most important things you should consider while getting a car loan for a new Accord [2008-2011]

• 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.