Honda Accord [2011-2014] Car Loan EMI Calculator

₹ 40,812.
Here is how - Honda Accord [2011-2014] price starts from ₹ 23,20,874 in Navi Mumbai. If you pay a down payment of ₹ 3,08,074 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 40,812.

The cheapest Accord [2011-2014] model is 2.4 MT which is priced at ₹ 23,20,874 in Navi Mumbai. You will need to pay at least a ₹ 3,08,074 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 Accord [2011-2014].

Version	On-road price in Navi Mumbai	Max Loan
2.4 MT	₹ 23,20,874	₹ 20,12,800
2.4 AT	₹ 24,11,838	₹ 20,92,200
3.5 V6	₹ 31,13,643	₹ 27,04,785

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 [2011-2014] 2.4 MT will be ₹ 36,174 but you will have to pay interest of ₹ 10,25,816 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 ₹ 72,728, but your interest payment will be only ₹ 6,05,408 over the 3 years period.

₹ 40,812
Honda Accord [2011-2014] price starts from ₹ 23,20,874 in Navi Mumbai.

We have considered
Down-payement : ₹ 3,08,074
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Accord [2011-2014] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 7,74,000

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 [2011-2014] starts from ₹ 23.21 Lakh, you can get a loan with an annual income as low as ₹ 7.74 lakh.

Here are the most important things you should consider while getting a car loan for a new Accord [2011-2014]

• 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.