Maruti Suzuki Alto [2005-2010] Car Loan EMI Calculator

₹ 4,259.
Here is how - Maruti Suzuki Alto [2005-2010] price starts from ₹ 2,32,461 in Bhatiya. If you pay a down payment of ₹ 22,431 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 4,259.

The cheapest Alto [2005-2010] model is Std which is priced at ₹ 2,32,461 in Bhatiya. You will need to pay at least a ₹ 22,431 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 Alto [2005-2010].

Version	On-road price in Bhatiya	Max Loan
LX BS-III	₹ 2,63,596	₹ 2,38,699
LXi BS-III	₹ 2,80,980	₹ 2,54,707
Std	₹ 2,32,461	₹ 2,10,030

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 Alto [2005-2010] Std will be ₹ 3,623 but you will have to pay interest of ₹ 94,302 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 ₹ 7,284, but your interest payment will be only ₹ 52,194 over the 3 years period.

₹ 4,259
Maruti Suzuki Alto [2005-2010] price starts from ₹ 2,32,461 in Bhatiya.

We have considered
Down-payement : ₹ 22,431
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Alto [2005-2010] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 78,000

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 Alto [2005-2010] starts from ₹ 2.32 Lakh, you can get a loan with an annual income as low as ₹ 78000.

Here are the most important things you should consider while getting a car loan for a new Alto [2005-2010]

• 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.