Hyundai Elantra Car Loan EMI Calculator

₹ 32,237.
Here is how - Hyundai Elantra price starts from ₹ 15,89,860 in Bodh Gaya. If you pay a down payment of ₹ 0 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 32,237.

Here is a model wise list of max loan amount for Elantra.

Version	On-road price in Bodh Gaya	Max Loan
SX 2.0 MT	₹ 21,31,280	₹ 17,86,100
SX (O) 2.0 AT	₹ 23,93,962	₹ 20,11,100
SX 2.0 AT	₹ 22,51,530	₹ 18,89,100
SX 1.5 MT	₹ 22,29,716	₹ 18,88,100
SX (O) 1.5 AT	₹ 24,92,014	₹ 21,13,100

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 Elantra 2.0 S MT will be ₹ 24,780 but you will have to pay interest of ₹ 4,91,660 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 ₹ 49,820, but your interest payment will be only ₹ 2,03,660 over the 3 years period.

₹ 32,237
Hyundai Elantra price starts from ₹ 15,89,860 in Bodh Gaya.

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

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 5,30,000

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 Elantra starts from ₹ 15.90 Lakh, you can get a loan with an annual income as low as ₹ 5.30 lakh.

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

• 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.