Skoda Kushaq Car Loan EMI Calculator

₹ 22,081.
Here is how - Skoda Kushaq price starts from ₹ 12,90,527 in Mumbai. If you pay a down payment of ₹ 2,01,527 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 22,081.

The cheapest Kushaq model is Classic 1.0L TSI MT which is priced at ₹ 12,90,527 in Mumbai. You will need to pay at least a ₹ 2,01,527 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 Kushaq.

Version	On-road price in Mumbai	Max Loan
ONYX Edition 1.0 TSI	₹ 15,24,018	₹ 12,89,000
Monte Carlo 1.0L TSI MT	₹ 18,44,361	₹ 15,59,900
Monte Carlo 1.0L TSI AT	₹ 19,72,781	₹ 16,69,900
Monte Carlo 1.5L TSI MT	₹ 20,27,482	₹ 17,09,900
Monte Carlo 1.5L TSI DSG	₹ 21,67,786	₹ 18,29,900
ONYX Edition 1.0 TSI AT	₹ 15,94,065	₹ 13,49,000
Classic 1.0L TSI MT	₹ 12,90,527	₹ 10,89,000
Signature 1.0L TSI MT	₹ 16,75,787	₹ 14,19,000
Signature 1.0L TSI AT	₹ 18,08,287	₹ 15,29,000
Signature 1.5L TSI MT	₹ 18,62,741	₹ 15,69,000
Prestige 1.0L TSI MT	₹ 19,01,683	₹ 16,09,000
Signature 1.5L TSI AT	₹ 20,03,045	₹ 16,89,000
Prestige 1.0L TSI AT	₹ 20,30,103	₹ 17,19,000
Prestige 1.5L TSI MT	₹ 20,84,890	₹ 17,59,000
Prestige 1.5L TSI AT	₹ 22,25,194	₹ 18,79,000

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 Kushaq Classic 1.0L TSI MT will be ₹ 20,114 but you will have to pay interest of ₹ 6,00,576 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 ₹ 40,440, but your interest payment will be only ₹ 3,66,840 over the 3 years period.

₹ 22,081
Skoda Kushaq price starts from ₹ 12,90,527 in Mumbai.

We have considered
Down-payement : ₹ 2,01,527
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 4,31,000

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 Kushaq starts from ₹ 12.91 Lakh, you can get a loan with an annual income as low as ₹ 4.31 lakh.

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

• 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.