MG Astor Car Loan EMI Calculator

₹ 20,236.
Here is how - MG Astor price starts from ₹ 11,67,991 in Mumbai. If you pay a down payment of ₹ 1,69,991 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 20,236.

The cheapest Astor model is Sprint 1.5 MT (Ivory) which is priced at ₹ 11,67,991 in Mumbai. You will need to pay at least a ₹ 1,69,991 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 Astor.

Version	On-road price in Mumbai	Max Loan
Sprint 1.5 MT (Ivory)	₹ 11,67,991	₹ 9,98,000
Shine 1.5 MT (Ivory)	₹ 14,01,071	₹ 11,79,800
Select 1.5 MT (Ivory)	₹ 15,51,400	₹ 13,10,800
Sharp Pro 1.5 MT (Ivory)	₹ 17,47,412	₹ 14,75,800
Select 1.5 CVT (Ivory)	₹ 16,71,818	₹ 14,11,800
Sharp Pro 1.5 CVT (Ivory)	₹ 18,92,919	₹ 15,99,800
Savvy Pro 1.5 CVT (Ivory)	₹ 20,04,067	₹ 16,94,800
Savvy Pro 1.5 CVT Sangria	₹ 20,21,519	₹ 17,04,800
Savvy Pro 1.3 Turbo AT Sangria	₹ 21,36,197	₹ 18,07,800
Sharp Pro 100-Year Edition 1.5 MT	₹ 17,73,075	₹ 14,95,800
100-Year Edition 1.5 CVT	₹ 19,26,814	₹ 16,23,800
Select 1.5 MT Blackstorm	₹ 15,96,526	₹ 13,44,800
Select 1.5 CVT Blackstorm	₹ 17,14,615	₹ 14,45,800

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 Astor Sprint 1.5 MT (Ivory) will be ₹ 18,205 but you will have to pay interest of ₹ 5,31,220 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 ₹ 36,601, but your interest payment will be only ₹ 3,19,636 over the 3 years period.

₹ 20,236
MG Astor price starts from ₹ 11,67,991 in Mumbai.

We have considered
Down-payement : ₹ 1,69,991
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 3,90,000

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 Astor starts from ₹ 11.68 Lakh, you can get a loan with an annual income as low as ₹ 3.90 lakh.

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

• 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.