Tata Sumo Gold Car Loan EMI Calculator

₹ 10,878.
Here is how - Tata Sumo Gold price starts from ₹ 5,97,329 in Mumbai. If you pay a down payment of ₹ 60,859 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 10,878.

The cheapest Sumo Gold model is SA Gold which is priced at ₹ 5,97,329 in Mumbai. You will need to pay at least a ₹ 60,859 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 Gold.

Version	On-road price in Mumbai	Max Loan
SA Gold	₹ 5,97,329	₹ 5,36,470
FX BS-IV	₹ 8,57,230	₹ 7,31,894
CX BS-III	₹ 8,15,630	₹ 6,85,187
EX BS-III	₹ 9,18,048	₹ 7,72,771
EX BS-IV	₹ 9,96,749	₹ 8,09,460
CX BS-IV	₹ 9,19,481	₹ 7,43,485
GX BS-IV	₹ 10,81,006	₹ 8,81,403
LX BS-III	₹ 7,34,819	₹ 6,31,750
LX BS-IV	₹ 7,71,150	₹ 6,56,876
CX PS BS III	₹ 8,37,869	₹ 7,04,204
CX PS BS IV	₹ 9,40,686	₹ 7,61,590

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 Gold SA Gold will be ₹ 9,310 but you will have to pay interest of ₹ 2,45,570 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 ₹ 18,718, but your interest payment will be only ₹ 1,37,378 over the 3 years period.

₹ 10,878
Tata Sumo Gold price starts from ₹ 5,97,329 in Mumbai.

We have considered
Down-payement : ₹ 60,859
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Sumo Gold with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 2,00,000

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 Gold starts from ₹ 5.97 Lakh, you can get a loan with an annual income as low as ₹ 2 lakh.

Here are the most important things you should consider while getting a car loan for a new Sumo Gold

• 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.