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Mini Cooper Convertible EMI Calculator

Mini Cooper Convertible EMI Calculator
Mini Cooper Convertible EMI starts at Rs 1,13,152 per month for a tenure of 60 months @ 9.8 for a loan amount of Rs 53.50 Lakh. The EMI Calculator tool on CarDekho gives a detailed break-up of the total payable amount and helps you in finding best car finance for your Cooper Convertible.
Mini Cooper Convertible Down Payment and EMI
Mini Cooper Convertible Variants | Loan @ rate% | Down payment | EMI Amount(60 months) |
---|---|---|---|
Mini Cooper Convertible S | 9.8 | Rs.5.94 Lakh | Rs.1,13,152 |
Calculate your Loan EMI for Cooper Convertible
- Total Loan AmountRs.0
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Frequently Asked Questions On Cooper Convertible Emi
What will be the lowest down payment for Mini Cooper Convertible?
The lenders generally finance 90% of the On-Road Price of the Mini Cooper Convertible. Some customers might be eligible for 100% funding, too. Down payment is the difference between the On-Road Price of the Mini Cooper Convertible and the amount funded by the lender.
What will be the monthly EMI for the Mini Cooper Convertible?
EMIs or Equated Monthly Installments refer to the monthly payments you make to the lender to repay your loan. These payments include the principal amount as well as the interest i.e. EMI = Principal Amount + Interest on Principal amount. Mathematically, EMI for the Mini Cooper Convertible can be calculated using the following formula:
{P x R x (1+R)^N / [(1+R)^N-1]}
where, P = Principal amount of the loan, R = Rate of interest and N = Number of monthly installments.
For Example:- If the principal amount for a car loan is Rs. 53.50 Lakh- on an annual rate of interest of 9.8% for a tenure of 5 years then EMI will be Rs 1,13,152. The rate of interest (R) on your loan is calculated monthly i.e. (R= Annual rate of interest/12/100). For instance, if R = 9.8% per annum, then R= 9.8/12 = 0.81%/month .
What will be the interest rate for the Mini Cooper Convertible?
Interest rate for the Mini Cooper Convertible primarily depends on the principal amount and tenure of the loan amount. Interest rate of lenders generally varies from 8.75% per annum to 11.50% per annum. If a customer holds an account with the financier then he may have a pre-approved new car loan offer available for him which can be verified by logging into his account. Customers can also negotiate with the financier for a better rate of interest against their loan amount.
What will be the EMI for 5 years tenure for the Mini Cooper Convertible?
EMI for the Mini Cooper Convertible for 5 years tenure can be calculated as per the following formula:-
{P x R x (1+R)^N / [(1+R)^N-1]}
Where, P = Principal amount of the loan, R = Rate of interest, N = Number of monthly installments which will be per month in case of 5 years tenure.
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