Tata Sumo Victa [2004-2011] Car Loan EMI Calculator

₹ 10,278.
Here is how - Tata Sumo Victa [2004-2011] price starts from ₹ 5,51,932 in Mumbai. If you pay a down payment of ₹ 45,045 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 10,278.

The cheapest Sumo Victa [2004-2011] model is CX 10 STR which is priced at ₹ 5,51,932 in Mumbai. You will need to pay at least a ₹ 45,045 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 Sumo Victa [2004-2011].

Version	On-road price in Mumbai	Max Loan
DI LX	₹ 6,97,130	₹ 6,20,392
EX	₹ 7,32,175	₹ 6,52,029
DI GX	₹ 7,75,105	₹ 6,90,784
GX TC 7 STR	₹ 7,34,182	₹ 6,53,840
GX TC 8 STR	₹ 7,16,480	₹ 6,44,920
LX	₹ 6,18,765	₹ 5,49,646
CX 10 STR	₹ 5,51,932	₹ 5,06,887
DI CX	₹ 6,65,109	₹ 5,91,484
DI EX	₹ 7,35,338	₹ 6,54,884
CX	₹ 6,52,091	₹ 6,02,889

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 Sumo Victa [2004-2011] CX 10 STR will be ₹ 8,603 but you will have to pay interest of ₹ 2,15,765 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 ₹ 17,296, but your interest payment will be only ₹ 1,15,769 over the 3 years period.

₹ 10,278
Tata Sumo Victa [2004-2011] price starts from ₹ 5,51,932 in Mumbai.

We have considered
Down-payement : ₹ 45,045
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Sumo Victa [2004-2011] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 1,84,000

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 Sumo Victa [2004-2011] starts from ₹ 5.52 Lakh, you can get a loan with an annual income as low as ₹ 1.84 lakh.

Here are the most important things you should consider while getting a car loan for a new Sumo Victa [2004-2011]

• 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.