Lotus Eletre Car Loan EMI Calculator

₹ 5,17,048.
Here is how - Lotus Eletre price starts from ₹ 2,68,15,992 in Delhi. If you pay a down payment of ₹ 13,15,992 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 5,17,048.

The cheapest Eletre model is Standard which is priced at ₹ 2,68,15,992 in Delhi. You will need to pay at least a ₹ 13,15,992 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 Eletre.

Version	On-road price in Delhi	Max Loan
Standard	₹ 2,68,15,992	₹ 2,55,00,000
S	₹ 2,89,13,117	₹ 2,75,00,000
R	₹ 3,14,29,666	₹ 2,99,00,000

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 Eletre Standard will be ₹ 4,17,960 but you will have to pay interest of ₹ 96,08,640 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 ₹ 8,40,316, but your interest payment will be only ₹ 47,51,376 over the 3 years period.

₹ 5,17,048
Lotus Eletre price starts from ₹ 2,68,15,992 in Delhi.

We have considered
Down-payement : ₹ 13,15,992
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 89,39,000

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 Eletre starts from ₹ 2.68 Crore, you can get a loan with an annual income as low as ₹ 89.39 lakh.

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

• 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.