Volkswagen Polo Car Loan EMI Calculator

₹ 11,801.
Here is how - Volkswagen Polo price starts from ₹ 6,80,319 in Mumbai. If you pay a down payment of ₹ 98,319 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 11,801.

The cheapest Polo model is Trendline 1.0L (P) [2019-2020] which is priced at ₹ 6,80,319 in Mumbai. You will need to pay at least a ₹ 98,319 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 Polo.

Version	On-road price in Mumbai	Max Loan
Trendline 1.0L (P) [2019-2020]	₹ 6,80,319	₹ 5,82,000
Comfortline 1.0L (P) [2019-2020]	₹ 8,03,334	₹ 6,76,500
Highline Plus 1.0 (P) [2019-2020]	₹ 9,18,059	₹ 7,76,500
Trendline 1.5L (D)	₹ 8,91,156	₹ 7,34,500
Comfortline 1.5L (D)	₹ 10,27,976	₹ 8,51,500
Highline Plus 1.5 (D)	₹ 11,21,528	₹ 9,31,500
GT TSI [2019-2020]	₹ 11,53,656	₹ 9,76,000
GT TDI	₹ 11,88,184	₹ 9,88,500
Trendline 1.0L MPI	₹ 7,56,565	₹ 6,45,000
Comfortline Plus 1.0L MPI	₹ 7,93,240	₹ 6,82,000
Highline 1.0 (P)	₹ 9,23,878	₹ 7,76,500
Highline Plus 1.0L TSI	₹ 10,49,831	₹ 8,98,000
Highline Plus 1.0L TSI AT	₹ 11,66,741	₹ 9,99,900
Limited TSI Edition	₹ 9,17,958	₹ 7,89,000
GT	₹ 12,12,093	₹ 10,25,000
Red and White Edition	₹ 10,70,387	₹ 9,19,500
Comfortline 1.0L MPI	₹ 8,67,853	₹ 7,42,000
Turbo Edition 1.0L TSI	₹ 8,14,903	₹ 6,99,000
Comfortline 1.0L TSI	₹ 9,12,023	₹ 7,80,500
Comfortline 1.0L TSI AT	₹ 10,44,095	₹ 8,93,000
Matt Edition	₹ 12,15,810	₹ 10,25,000
Legend Edition	₹ 12,15,810	₹ 10,25,000

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 Polo Trendline 1.0L (P) [2019-2020] will be ₹ 10,604 but you will have to pay interest of ₹ 3,08,736 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 ₹ 21,319, but your interest payment will be only ₹ 1,85,484 over the 3 years period.

₹ 11,801
Volkswagen Polo price starts from ₹ 6,80,319 in Mumbai.

We have considered
Down-payement : ₹ 98,319
Tenure : 5 years
Interest Rate : 8%

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

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 2,27,000

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 Polo starts from ₹ 6.80 Lakh, you can get a loan with an annual income as low as ₹ 2.27 lakh.

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

• 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.