Maruti Suzuki Stingray Car Loan EMI Calculator

₹ 8,935.
Here is how - Maruti Suzuki Stingray price starts from ₹ 5,14,833 in Chennai. If you pay a down payment of ₹ 74,189 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 8,935.

The cheapest Stingray model is LXi which is priced at ₹ 5,14,833 in Chennai. You will need to pay at least a ₹ 74,189 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 Stingray.

Version	On-road price in Chennai	Max Loan
LXi	₹ 5,14,833	₹ 4,40,644
VXi	₹ 5,42,628	₹ 4,64,782
VXi (O)	₹ 5,74,806	₹ 5,00,217
VXi AMT (O)	₹ 6,29,534	₹ 5,48,472
VXi AMT	₹ 5,91,522	₹ 5,14,956
Lxi (O)	₹ 5,45,934	₹ 4,76,084

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 Stingray LXi will be ₹ 8,024 but you will have to pay interest of ₹ 2,33,372 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 ₹ 16,133, but your interest payment will be only ₹ 1,40,144 over the 3 years period.

₹ 8,935
Maruti Suzuki Stingray price starts from ₹ 5,14,833 in Chennai.

We have considered
Down-payement : ₹ 74,189
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 1,72,000

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 Stingray starts from ₹ 5.15 Lakh, you can get a loan with an annual income as low as ₹ 1.72 lakh.

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

• 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.