Nissan Magnite EMI Calculator
Nissan Magnite EMI starts at Rs 12,264 per month for a tenure of 60 months @ 9.8 for a loan amount of Rs 5.79 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 Magnite.
Nissan Magnite Down Payment and EMI
Nissan Magnite Variants | Loan @ rate% | Down payment | EMI Amount(60 months) |
---|---|---|---|
Nissan Magnite XE | 9.8 | Rs.64,389 | Rs.12,264 |
Nissan Magnite XL | 9.8 | Rs.69,763 | Rs.13,273 |
Nissan Magnite XV | 9.8 | Rs.79,183 | Rs.15,075 |
Nissan Magnite XV DT | 9.8 | Rs.80,730 | Rs.15,360 |
Nissan Magnite Turbo XL | 9.8 | Rs.82,678 | Rs.15,730 |
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Frequently Asked Questions On Magnite Emi
What will be the lowest down payment for Nissan Magnite?
The lenders generally finance 90% of the On-Road Price of the Nissan Magnite. Some customers might be eligible for 100% funding, too. Down payment is the difference between the On-Road Price of the Nissan Magnite and the amount funded by the lender.
What will be the monthly EMI for the Nissan Magnite?
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 Nissan Magnite 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. 5.79 Lakh- on an annual rate of interest of 9.8% for a tenure of 5 years then EMI will be Rs 12,264. 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 Nissan Magnite?
Interest rate for the Nissan Magnite 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 Nissan Magnite?
EMI for the Nissan Magnite 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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Disclaimer : As per the information entered by you the calculation is performed by EMI Calculator and the amount of installments does not include any other fees charged by the financial institution / banks like processing fee, file charges, etc. The amount is in Indian Rupee rounded off to the nearest Rupee. Depending upon type and use of vehicle, regional lender requirements and the strength of your credit, actual down payment and resulting monthly payments may vary. Exact monthly installments can be found out from the financial institution.