Tata Sumo Grande MK II [2009-2014] Car Loan EMI Calculator

₹ 13,307.
Here is how - Tata Sumo Grande MK II [2009-2014] price starts from ₹ 7,48,392 in Chennai. If you pay a down payment of ₹ 92,128 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 13,307.

The cheapest Sumo Grande MK II [2009-2014] model is CX BS-IV which is priced at ₹ 7,48,392 in Chennai. You will need to pay at least a ₹ 92,128 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 Grande MK II [2009-2014].

Version	On-road price in Chennai	Max Loan
CX BS-IV	₹ 7,48,392	₹ 6,56,264
EX BS-IV	₹ 9,73,912	₹ 8,56,517
GX BS-IV	₹ 10,63,088	₹ 9,35,424
LX BS-IV	₹ 9,27,917	₹ 8,15,819

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 Grande MK II [2009-2014] CX BS-IV will be ₹ 11,665 but you will have to pay interest of ₹ 3,23,596 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 ₹ 23,452, but your interest payment will be only ₹ 1,88,008 over the 3 years period.

₹ 13,307
Tata Sumo Grande MK II [2009-2014] price starts from ₹ 7,48,392 in Chennai.

We have considered
Down-payement : ₹ 92,128
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Sumo Grande MK II [2009-2014] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 2,50,000

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 Grande MK II [2009-2014] starts from ₹ 7.48 Lakh, you can get a loan with an annual income as low as ₹ 2.50 lakh.

Here are the most important things you should consider while getting a car loan for a new Sumo Grande MK II [2009-2014]

• 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.