Mahindra Alturas G4 Car Loan EMI Calculator

₹ 56,169.
Here is how - Mahindra Alturas G4 price starts from ₹ 34,74,102 in Bangalore. If you pay a down payment of ₹ 7,03,952 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 56,169.

The cheapest Alturas G4 model is 2WD AT [2018-2020] which is priced at ₹ 34,74,102 in Bangalore. You will need to pay at least a ₹ 7,03,952 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 Alturas G4.

Version	On-road price in Bangalore	Max Loan
2WD AT [2018-2020]	₹ 34,74,102	₹ 27,70,150
4WD AT [2018-2020]	₹ 38,44,892	₹ 30,70,150
4WD AT	₹ 39,99,479	₹ 31,87,912
2WD AT	₹ 36,46,594	₹ 28,87,910
2WD High AT	₹ 38,68,789	₹ 30,67,555

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 Alturas G4 2WD AT [2018-2020] will be ₹ 54,148 but you will have to pay interest of ₹ 17,78,282 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 ₹ 1,08,866, but your interest payment will be only ₹ 11,49,026 over the 3 years period.

₹ 56,169
Mahindra Alturas G4 price starts from ₹ 34,74,102 in Bangalore.

We have considered
Down-payement : ₹ 7,03,952
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Alturas G4 with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 11,59,000

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 Alturas G4 starts from ₹ 34.74 Lakh, you can get a loan with an annual income as low as ₹ 11.59 lakh.

Here are the most important things you should consider while getting a car loan for a new Alturas G4

• 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.