Mahindra Scorpio 2021 Car Loan EMI Calculator

₹ 20,598.
Here is how - Mahindra Scorpio 2021 price starts from ₹ 12,55,623 in Chennai. If you pay a down payment of ₹ 2,39,773 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 20,598.

The cheapest Scorpio 2021 model is S3 2WD 7 STR which is priced at ₹ 12,55,623 in Chennai. You will need to pay at least a ₹ 2,39,773 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 Scorpio 2021.

Version	On-road price in Chennai	Max Loan
S3 2WD 7 STR	₹ 12,55,623	₹ 10,15,850
S5 2WD 7 STR	₹ 15,43,612	₹ 12,56,631
S7 120 2WD 7 STR	₹ 16,51,504	₹ 13,38,207
S7 140 2WD 7 STR	₹ 17,01,655	₹ 13,88,767
S11 2WD 7 STR	₹ 19,32,206	₹ 15,78,182
S11 4WD 7 STR	₹ 20,82,999	₹ 17,04,256
S3 2WD 9 STR	₹ 12,55,623	₹ 10,15,850
S5 2WD 9 STR	₹ 15,43,612	₹ 12,56,631
S7 120 2WD 8 STR	₹ 16,51,504	₹ 13,38,207
S7 140 2WD 8 STR	₹ 17,01,655	₹ 13,88,767
S11 2WD 8 STR	₹ 19,32,206	₹ 15,78,182
S11 4WD 8 STR	₹ 20,82,999	₹ 17,04,256
S9 2WD 7 STR	₹ 17,89,021	₹ 14,61,812
S9 2WD 8 STR	₹ 17,89,021	₹ 14,61,812
S5	₹ 17,71,338	₹ 14,37,416
S7	₹ 20,45,023	₹ 16,64,381
S9	₹ 21,35,621	₹ 17,39,512
S11	₹ 22,96,072	₹ 18,72,573
S3 Plus	₹ 16,87,376	₹ 13,67,787

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 Scorpio 2021 S3 2WD 7 STR will be ₹ 19,570 but you will have to pay interest of ₹ 6,28,030 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 ₹ 39,347, but your interest payment will be only ₹ 4,00,642 over the 3 years period.

₹ 20,598
Mahindra Scorpio 2021 price starts from ₹ 12,55,623 in Chennai.

We have considered
Down-payement : ₹ 2,39,773
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Scorpio 2021 with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 4,19,000

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 Scorpio 2021 starts from ₹ 12.56 Lakh, you can get a loan with an annual income as low as ₹ 4.19 lakh.

Here are the most important things you should consider while getting a car loan for a new Scorpio 2021

• 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.