MG Astor Car Loan EMI Calculator

₹ 20,272.
Here is how - MG Astor price starts from ₹ 11,72,955 in Mumbai. If you pay a down payment of ₹ 1,73,155 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 20,272.

The cheapest Astor model is Sprint 1.5 MT (Ivory) which is priced at ₹ 11,72,955 in Mumbai. You will need to pay at least a ₹ 1,73,155 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)	₹ 11,72,955	₹ 9,99,800
Shine 1.5 MT (Ivory)	₹ 14,26,992	₹ 11,99,800
Select 1.5 MT (Ivory)	₹ 15,80,157	₹ 13,30,800
Sharp Pro 1.5 MT (Ivory)	₹ 17,77,752	₹ 14,99,800
Select 1.5 CVT (Ivory)	₹ 16,99,416	₹ 14,32,800
Sharp Pro 1.5 CVT (Ivory)	₹ 19,29,152	₹ 16,25,800
Savvy Pro 1.5 CVT (Ivory)	₹ 20,41,396	₹ 17,21,800
Savvy Pro 1.5 CVT Sangria	₹ 20,53,088	₹ 17,31,800
Savvy Pro 1.3 Turbo AT Sangria	₹ 21,73,515	₹ 18,34,800
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
Sharp Pro 1.5 CVT (Ivory) Dual Tone	₹ 19,52,536	₹ 16,45,800
Savvy Pro 1.5 CVT (Ivory) Dual Tone	₹ 20,64,780	₹ 17,41,800
Savvy Pro 1.5 CVT Sangria Dual Tone	₹ 20,76,472	₹ 17,51,800
Savvy Pro 1.3 Turbo AT Sangria Dual Tone	₹ 21,96,899	₹ 18,54,800

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 ₹ 18,282 but you will have to pay interest of ₹ 5,35,888 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 ₹ 36,756, but your interest payment will be only ₹ 3,23,416 over the 3 years period.

₹ 20,272
MG Astor price starts from ₹ 11,72,955 in Mumbai.

We have considered
Down-payement : ₹ 1,73,155
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 ₹ 3,91,000

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 ₹ 11.73 Lakh, you can get a loan with an annual income as low as ₹ 3.91 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.