Premier Rio [2012-2015] Car Loan EMI Calculator

₹ 10,196.
Here is how - Premier Rio [2012-2015] price starts from ₹ 5,64,025 in Mumbai. If you pay a down payment of ₹ 61,190 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 10,196.

The cheapest Rio [2012-2015] model is GX which is priced at ₹ 5,64,025 in Mumbai. You will need to pay at least a ₹ 61,190 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 Rio [2012-2015].

Version	On-road price in Mumbai	Max Loan
Ex	₹ 6,34,950	₹ 5,68,623
Dx	₹ 8,02,215	₹ 7,04,947
Lx	₹ 8,34,636	₹ 7,33,695
GX	₹ 5,64,025	₹ 5,02,835
GLX	₹ 7,60,515	₹ 6,70,667
Plus Dx	₹ 8,59,662	₹ 7,45,543
Plus Lx	₹ 8,94,223	₹ 7,75,728
Plus GLX	₹ 7,44,238	₹ 6,65,573
Plus GX	₹ 7,12,410	₹ 6,36,831
CRDi4	₹ 7,93,684	₹ 7,00,150

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 Rio [2012-2015] GX will be ₹ 8,791 but you will have to pay interest of ₹ 2,35,609 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 ₹ 17,674, but your interest payment will be only ₹ 1,33,429 over the 3 years period.

₹ 10,196
Premier Rio [2012-2015] price starts from ₹ 5,64,025 in Mumbai.

We have considered
Down-payement : ₹ 61,190
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Rio [2012-2015] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 1,89,000

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 Rio [2012-2015] starts from ₹ 5.64 Lakh, you can get a loan with an annual income as low as ₹ 1.89 lakh.

Here are the most important things you should consider while getting a car loan for a new Rio [2012-2015]

• 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.