Nissan Magnite Car Loan EMI Calculator

₹ 12,164.
Here is how - Nissan Magnite price starts from ₹ 7,04,347 in Mumbai. If you pay a down payment of ₹ 1,04,447 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 12,164.

The cheapest Magnite model is Visia B4D 1.0 Petrol MT which is priced at ₹ 7,04,347 in Mumbai. You will need to pay at least a ₹ 1,04,447 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 Magnite.

Version	On-road price in Mumbai	Max Loan
Visia B4D 1.0 Petrol MT	₹ 7,04,347	₹ 5,99,900
Visia Plus B4D 1.0 Petrol MT	₹ 7,61,136	₹ 6,49,400
Acenta B4D 1.0 Petrol MT	₹ 8,35,249	₹ 7,14,000
N-Connecta B4D 1.0 Petrol MT	₹ 9,17,852	₹ 7,86,000
Tekna B4D 1.0 Petrol MT	₹ 10,23,017	₹ 8,75,000
Tekna Plus B4D 1.0 Petrol MT	₹ 10,63,171	₹ 9,10,000
Visia B4D 1.0 Petrol AMT	₹ 7,73,182	₹ 6,59,900
Acenta B4D 1.0 Petrol AMT	₹ 8,92,611	₹ 7,64,000
N-Connecta B4D 1.0 Petrol AMT	₹ 9,78,274	₹ 8,36,000
Tekna B4D 1.0 Petrol AMT	₹ 10,80,380	₹ 9,25,000
Tekna Plus B4D 1.0 Petrol AMT	₹ 11,20,534	₹ 9,60,000
N-Connecta HRAO 1.0 Turbo Petrol MT	₹ 10,73,496	₹ 9,19,000
Tekna HRAO 1.0 Turbo Petrol MT	₹ 11,65,276	₹ 9,99,000
Tekna Plus HRAO 1.0 Turbo Petrol MT	₹ 12,27,485	₹ 10,35,000
Acenta HRAO 1.0 Turbo Petrol CVT	₹ 11,42,331	₹ 9,79,000
N-Connecta HRAO 1.0 Turbo Petrol CVT	₹ 12,26,317	₹ 10,34,000
Tekna HRAO 1.0 Turbo Petrol CVT	₹ 13,19,713	₹ 11,14,000
Tekna Plus HRAO 1.0 Turbo Petrol CVT	₹ 13,61,742	₹ 11,50,000

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 Magnite Visia B4D 1.0 Petrol MT will be ₹ 10,978 but you will have to pay interest of ₹ 3,22,252 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 ₹ 22,072, but your interest payment will be only ₹ 1,94,692 over the 3 years period.

₹ 12,164
Nissan Magnite price starts from ₹ 7,04,347 in Mumbai.

We have considered
Down-payement : ₹ 1,04,447
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 2,35,000

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 Magnite starts from ₹ 7.04 Lakh, you can get a loan with an annual income as low as ₹ 2.35 lakh.

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

• 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.