Chevrolet Aveo [2009-2012] Car Loan EMI Calculator

₹ 12,763.
Here is how - Chevrolet Aveo [2009-2012] price starts from ₹ 7,14,782 in Mumbai. If you pay a down payment of ₹ 85,324 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 12,763.

The cheapest Aveo [2009-2012] model is LS 1.4 which is priced at ₹ 7,14,782 in Mumbai. You will need to pay at least a ₹ 85,324 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 Aveo [2009-2012].

Version	On-road price in Mumbai	Max Loan
LS 1.4	₹ 7,14,782	₹ 6,29,458
LT 1.4	₹ 8,10,208	₹ 7,14,543
LT 1.4 ABS	₹ 8,45,048	₹ 7,45,607
LT 1.6 ABS	₹ 8,50,678	₹ 7,61,521
LT 1.6	₹ 8,07,294	₹ 7,31,644
CNG 1.4	₹ 7,87,322	₹ 6,92,481

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 Aveo [2009-2012] LS 1.4 will be ₹ 11,141 but you will have to pay interest of ₹ 3,06,386 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 ₹ 22,399, but your interest payment will be only ₹ 1,76,906 over the 3 years period.

₹ 12,763
Chevrolet Aveo [2009-2012] price starts from ₹ 7,14,782 in Mumbai.

We have considered
Down-payement : ₹ 85,324
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Aveo [2009-2012] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 2,39,000

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 Aveo [2009-2012] starts from ₹ 7.15 Lakh, you can get a loan with an annual income as low as ₹ 2.39 lakh.

Here are the most important things you should consider while getting a car loan for a new Aveo [2009-2012]

• 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.