Renault Lodgy Car Loan EMI Calculator

₹ 18,314.
Here is how - Renault Lodgy price starts from ₹ 10,75,386 in Mumbai. If you pay a down payment of ₹ 1,72,187 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 18,314.

The cheapest Lodgy model is 85 PS STD 8 STR which is priced at ₹ 10,75,386 in Mumbai. You will need to pay at least a ₹ 1,72,187 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 Lodgy.

Version	On-road price in Mumbai	Max Loan
85 PS RxE 8 STR	₹ 11,88,273	₹ 9,99,999
85 PS STD 8 STR	₹ 10,75,386	₹ 9,03,199
110 PS RxL [2015-2016]	₹ 12,87,464	₹ 10,97,268
85 PS RXL [2015-2016]	₹ 12,24,696	₹ 10,42,963
85 PS RXZ [2015-2016]	₹ 14,00,708	₹ 11,95,241
110 PS RXZ [2015-2016]	₹ 14,76,158	₹ 12,60,517
110 PS RXZ 7 STR [2015-2016]	₹ 15,08,805	₹ 12,88,761
110 PS RXZ STEPWAY [2015-2016]	₹ 15,26,478	₹ 13,03,977
110 PS RXZ 7 STR STEPWAY [2015-2016]	₹ 15,63,629	₹ 13,36,614
85 PS RxE 7 STR	₹ 11,88,273	₹ 9,99,999
110 PS RxL 7 STR [2016]	₹ 12,87,464	₹ 10,97,268
110 PS World Edition 8 STR	₹ 13,09,080	₹ 10,87,799
85 PS World Edition 8 STR	₹ 12,14,218	₹ 10,07,699
85 PS RXL Stepway 8 STR	₹ 13,23,124	₹ 10,98,599
85 PS RXZ Stepway 8 STR	₹ 14,13,894	₹ 11,75,099
110 PS RXL Stepway 8 STR	₹ 13,56,575	₹ 11,18,499
110 PS RXZ Stepway 8 STR	₹ 15,09,970	₹ 12,55,899
110 PS RXZ Stepway 7 STR	₹ 15,09,790	₹ 12,55,899

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 Lodgy 85 PS STD 8 STR will be ₹ 16,761 but you will have to pay interest of ₹ 5,04,725 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 ₹ 33,699, but your interest payment will be only ₹ 3,09,965 over the 3 years period.

₹ 18,314
Renault Lodgy price starts from ₹ 10,75,386 in Mumbai.

We have considered
Down-payement : ₹ 1,72,187
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 3,59,000

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 Lodgy starts from ₹ 10.75 Lakh, you can get a loan with an annual income as low as ₹ 3.59 lakh.

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

• 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.