Maruti Suzuki Ritz [2009-2012] Car Loan EMI Calculator

₹ 9,080.
Here is how - Maruti Suzuki Ritz [2009-2012] price starts from ₹ 5,12,331 in Hosur. If you pay a down payment of ₹ 64,527 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 9,080.

The cheapest Ritz [2009-2012] model is GENUS VXI which is priced at ₹ 5,12,331 in Hosur. You will need to pay at least a ₹ 64,527 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 Ritz [2009-2012].

Version	On-road price in Hosur	Max Loan
Vdi BS-IV	₹ 6,44,904	₹ 5,63,386
Ldi BS-IV	₹ 6,02,100	₹ 5,25,641
Vdi (ABS) BS-IV	₹ 6,66,005	₹ 5,81,994
GENUS VDI	₹ 6,05,670	₹ 5,28,789
GENUS VXI	₹ 5,12,331	₹ 4,47,804

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 Ritz [2009-2012] GENUS VXI will be ₹ 7,985 but you will have to pay interest of ₹ 2,22,936 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 ₹ 16,055, but your interest payment will be only ₹ 1,30,176 over the 3 years period.

₹ 9,080
Maruti Suzuki Ritz [2009-2012] price starts from ₹ 5,12,331 in Hosur.

We have considered
Down-payement : ₹ 64,527
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Ritz [2009-2012] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 1,71,000

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 Ritz [2009-2012] starts from ₹ 5.12 Lakh, you can get a loan with an annual income as low as ₹ 1.71 lakh.

Here are the most important things you should consider while getting a car loan for a new Ritz [2009-2012]

• 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.