Car Loan for Ford Figo: Features & Benefits
Ford Figo Car Loan is a specific vehicle-based loan. Its main features are as follows:
| Features | Car Loan |
| Interest Rate | 8.25% – 14.26% (Avg – 9.40%) |
| Processing Fee | 1.00% Min Rs. 5,000 Max Rs. 10,000 |
| Loan Tenure | Up to 7 years |
| Lowest EMI | ₹ 1,556 per lakh |
| Loan Amount | Up to 100% of ex-showroom price |
| Prepayment Charges | 5% from 13-24 months, 3% after 24 months |
Ford Figo Car Loan Eligibility Criteria
The eligibility criteria to fulfil for the Ford Figo Car Loan applicants:
| Eligibility Criteria | Eligibility Details |
| Age | 21 years – 60 years |
| Minimum Annual Income | Salaried: ₹ 10,000
Self Employed Professionals: ₹ 10,000 Self Employed Businessmen: ₹ 10,000 |
| Minimum Credit Score | 700 and above |
| Loan Tenure | 7 years |
| Loan to Value Ratio | 100% of ex-showroom price |
Ford Figo Car Loan EMI Calculator
All banks provide various types of auto loans; the greatest tool for understanding a Ford Figo Car Loan is the EMI calculator, which allows applicants to calculate the actual monthly burden they will have to face for the term of Ford Figo Car Loan.
- The EMI calculation for a Ford Figo Car Loan varies from bank to bank, depending on the approach employed.
- The EMI in arrears strategy on a decreasing balance basis, which entails paying interest on the loan amount due on a declining basis at or after the month, should be the standard practice.
- Finally, all banks utilise the same basic formula to compute the EMI value to be presented to the loan recipient. The formula is as follows:
E= P. r. (1+r)n/[(1+r) n -1]
E: denotes the monthly payment or EMI.
P: denotes the principal amount for which you wish to apply.
r: is the monthly interest rate computed as a percentage of yearly income,
n: is the loan term in months.
Ford Figo Car Loan Interest Rate, Fees, and Charges
Ford Figo car loan charges and other costs are that part of the loan which helps the customer
| Interest Rate | 8.25% – 14.26% (Avg – 9.40%) |
| Processing Fee | Lower of Rs. 10,000 or 0.4% of car loan sanctioned |
| Foreclosure Charges | 3% to 6% depending on loan tenure (no foreclosure for loans disbursed <6 months ago) |
| Documentation Fees | Rs. 600 each time |
| Penalty for Late Payment | 2% each month |
| Financing Quantum | up to 100% depending on customer profile |
Documents Required for Ford Figo Car Loan
Suppose an application meets all of the eligibility criteria. In that case, the loan provider will demand the applicant produce specific necessary papers before the Ford Figo Car Loan can be disbursed to authenticate his claims and satisfy some of the legal requirements of loan giving. The following documents are required:
| Individual | Documentation |
| Salaried Applicant | Two Passport-size photocopies of your tax identification number (PAN)
Aadhaar, Passport/ Driving License/ Voter ID/ PAN are all acceptable forms of identification. Automobile quote Passport, Leave and License, Registered Rent Agreement, Utility Bill (up to 3 months old), Residential Address Proof 3 months pay stubs, 2 years Form 16, 3 months bank statement displaying salary credit and any EMI debit Vehicle Registration and Insurance |
| Self Employed Applicant | Two Passport Size Photo Copy of Income Tax PAN (Filled Out Loan Application Form)
Aadhaar, Passport, Driving License, Voter ID, and PAN is all acceptable forms of identification. Car price quote Proof of residential address – leave and license/registered rent agreement/utility bill (up to 3 months old), Passport. Income Documents – 3 months pay stubs, 2 years of Form 16, 3 months bank statement displaying income credit and any EMI debit. Vehicle Registration and Insurance |
Ford Figo
| Ex-Showroom Price | Rs.7,92,000 |
| On-Road Price in New Delhi | Rs.9,02,810 |
| ARAI Mileage | 24.4 kmpl |
| Fuel Type | Diesel |
| Engine Displacement (cc) | 1499 |
| Max Power (bhp@rpm) | 98.96bhp@3750rpm |
| Max Torque (nm@rpm) | 215Nm@1750-2500rpm |
| Seating Capacity | 5 |
| TransmissionType | Manual |
| Fuel Tank Capacity | 40.0 |
| Body Type | Hatchback |
| Service Cost (Avg. of 5 years) | Rs.4,055 |
Key Specs of Ford Figo
| Features of Ford Figo | Yes/No |
| Power Steering | Yes |
| Power Windows Front | Yes |
| Anti Lock Braking System | Yes |
| Air Conditioner | Yes |
| Driver Airbag | Yes |
| Passenger Airbag | Yes |
| Automatic Climate Control | Yes |
| Fog Lights – Front | Yes |
| Alloy Wheels | Yes |
Ford Figo Latest Update
- The Ford Figo is priced between Rs 5.64 lakh and Rs 8.19 lakh (ex-showroom Delhi).
- The Figo is available in three different versions: Ambiente, Titanium, and Titanium BLU.
- The Figo is available with both petrol and diesel engines. The Figo is available with a 1.2-litre petrol engine (96PS/119Nm) or a 1.5-litre diesel engine (100PS/215Nm).
- 1JBoth cars are equipped with a 5-speed manual gearbox. Unfortunately, there isn’t an automated option. The Figo gets 18.5 kilometres per gallon in fuel and 24.4 kilometres per gallon in diesel.
- The Ford Figo include FordPass connected car technology, automatic headlights, rain-sensing wipers, auto-dimming IRVM, and push-button start/stop. The Titanium Blu model also comes with a 7.0-inch touchscreen infotainment system with sporty aesthetics.
- It comes with six airbags, ABS with EBD, and rear parking sensors as standard equipment.
- The Maruti Suzuki Swift, Hyundai Grand i10 Nios, and the Renault Triber are all competitors for the Ford Figo.
Ford Figo Price
In the Mid-size hatchback segment, Ford Figo is a premium hatchback as it offers the best class features. The price of the Ford Figo matches is slightly more than the market-leading competitors.
A car is a long term asset the customers also keep in mind the maintenance and servicing cost of the vehicle to assess its value which is less for the Figo than some of the other cars like the Toyota Liva, etc.
The Ford Figo is priced between Rs. 5.82 lakh and Rs. 8.37 lakh. The Ford Figo is available in five different models, with the Ambiente being the most affordable and the top-of-the-line Ford Figo Titanium Blu Diesel costing Rs. 8.37 lakh.
Ford Figo Car Loan is an opportunity that enhances the affordability of the car for a large number of regular earners.
Prices of Ford Figo Ex-showroom Delhi
| Titanium (Diesel) (Base Model) | |
| Ex-Showroom Price | Rs.7,92,000 |
| RTO | Rs.76,130 |
| Insurance | Rs.34,680 |
| Optional | Rs.19,802 |
| On-Road Price in New Delhi : | Rs.9,02,810 |
| Titanium Blu Diesel(Diesel) (Top Model) | |
| Ex-Showroom Price | Rs.8,37,000 |
| RTO | Rs.80,068 |
| Insurance | Rs.35,839 |
| Optional | Rs.20,030 |
| On-Road Price in New Delhi : | Rs.9,52,907 |
| Ambiente(Petrol) (Base Model) | |
| Ex-Showroom Price | Rs.5,82,000 |
| RTO | Rs.30,110 |
| Insurance | Rs.29,270 |
| Optional | Rs.16,246 |
| On-Road Price in New Delhi | Rs.6,41,380 |
| Titanium(Petrol) | |
| Ex-Showroom Price | Rs.6,82,000 |
| RTO | Rs.54,570 |
| Insurance | Rs.31,846 |
| Optional | Rs.16,748 |
| On-Road Price in New Delhi : | Rs.7,68,416 |
| Titanium Blu(Petrol) (Top Model) | |
| Ex-Showroom Price | Rs.7,27,000 |
| RTO | Rs.57,720 |
| Insurance | Rs.33,006 |
| Optional | Rs.16,974 |
| On-Road Price in New Delhi : | Rs.8,17,726 |
Down payment required for Ford Figo
Ford Figo is a mid-segment hatchback; hence it curtails a substantial overall cost, and hence the value of the initial down payment for a car loan for Ford Figo is high. All Banks and NBFCs offer sustainable car loans for all the variants of Ford Figo. To calculate a specific value for the down payment, let assume some factors of a car loan such as interest tenure, etc. The result would be as follows:
| FORD FIGO VARIANTS | LOAN @ RATE% | DOWN PAYMENT |
| Ford Figo Ambiente | 9.8 | Rs.65,762 |
| Ford Figo Titanium | 9.8 | Rs.78,516 |
| Ford Figo Titanium Blu | 9.8 | Rs.83,470 |
| Ford Figo Titanium Diesel | 9.8 | Rs.92,261 |
| Ford Figo Titanium Blu Diesel | 9.8 | Rs.97,293 |
Calculate Loan EMI for Ford Figo
Ford Figo Car Loan involves paying a good part of your income as the equated monthly instalment or the EMI. Different variants have different costs; hence the value of Ford Figo Car Loan EMI also changes for each model variant of the Ford Figo.
| FORD FIGO VARIANTS | Interest rate | EMI AMOUNT(60 MONTHS) |
| Ford Figo Ambiente | 9.8% | Rs.12,512 |
| Ford Figo Titanium | 9.8% | Rs.14,934 |
| Ford Figo Titanium Blu | 9.8% | Rs.15,897 |
| Ford Figo Titanium Diesel | 9.8% | Rs.17,566 |
| Ford Figo Titanium Blu Diesel | 9.8% | Rs.18,524 |
About Ford Figo
The Ford Motor Company, or simply Ford, is an American multinational automobile manufacturer headquartered in Dearborn, Michigan, a Detroit suburb. Henry Ford started the company, which was formed on June 16, 1903. The Ford brand offers automobiles and commercial vehicles, whereas the Lincoln brand offers most premium cars.
India, the brand provides premium segment vehicles that compete with the top automobile manufacturers worldwide.
Ford Figo is considered Ford’s successful entry in an already saturated mid-size hatchback car that has also been dominated by some specific vehicles that are more famous than Ford Figo in India, such as Maruti Suzuki Swift, Honda Jazz, etc.
New Safety & Security Features which are found on every model of Ford Figo
Ford Figo is designed as a proper modern hatchback. It adds comfort and ease to the daily city life of customers. This is possible due to the potent engine; customers who drive to work every day require a car that is easy to operate and does not add to the day’s exhaustion. The in-built features that make Ford Figo a safe vehicle are:
- The top-of-the-line Ford Figo comes with a slew of high-tech safety and security features.
- Dual front airbags, front fog lights for clear vision in foggy conditions, rear defogger with auto cut-off, rear washer/wiper, Passive Anti-Theft System, Intelligent Central Locking, laminated glazed windscreen, lap strap for rear centre passenger, and three-point front and rear seatbelts are among the safety features.
- It also has an anti-lock braking system and electronic brakeforce distribution for improved stability on slick roads and when stopping suddenly.
- On the other hand, the lower-spec model is missing crucial safety features like ABS with EBD, airbags, fog lamps, and more.
Ford Figo Comparison with similar cars
| Car | Ford Figo Ambiente |
Maruti Swift LXI | Honda Jazz V |
| Engine and Transmission | |||
| Engine Type | Ti-VCT Petrol Engine | K series Dual Jet | 1.2 i-VTEC Petrol |
| Displacement (cc) | 1194 | 1197 | 1199 |
| Max Power (bhp@rpm) | 94.93bhp@6500rpm | 88.50bhp@6000rpm | 88.51bhp@6000rpm |
| Max Torque (nm@rpm) | 119Nm@4250rpm | 113Nm@4400rpm | 110Nm@4800rpm |
| No Of Cylinder | 3 | 4 | 4 |
| Valves Per Cylinder | 4 | 4 | 4 |
| Valve Configuration | DOHC | – | SOHC |
| Fuel Supply System | Direct Injection | – | – |
| Transmission Type | Manual | Manual | Manual |
| Gear Box | 5 Speed | 5-Speed | 5-Speed |
| Drive Type | FWD | ||
| Fuel & Performance | |||
| Fuel Type | Petrol | Petrol | Petrol |
| Mileage (ARAI) | 18.5 kmpl | 23.2 kmpl | 16.6 kmpl |
| Fuel Tank Capacity | 42.0 (Litres) | 37.0 (Litres) | 40.0 (Litres) |
| Emission Norm Compliance | BS VI | BS VI | BS VI |
| Top Speed (Kmph) | 144.53 | ||
How to get Ford Figo Car Loan
Ford Figo is a perfect purchase decision for customers interested in buying a mid-segment hatchback from a reputable car manufacturer. All banks and NBFC might not be able to fund the value of the car for their customers. Ford Figo Car Loan is a good option for customers as it is a specially designed loan. Ford Figo Car Loan is a measure for young executives and regular employees to own a good hatchback from a premium car manufacturer like Ford.
To save interested customers the trouble, the easiest method of getting a Ford Figo Car Loan is with the help of India First Financial Helpline, Dialabank.
To find the best car loan for all kinds of four-wheelers, visit the Dialabank website.
OR
Call us at Dialabank: 9878981166
Ford Figo Car Loan News
23-04-2021:
Ford has increased the pricing of practically all of its vehicles this month, following Maruti and Honda’s footsteps. While no official explanation has been given, we suspect it is related to growing input costs. Here’s a glance at the amended price list by variant:
- The Figo and Freestyle are now Rs 18,000 more expensive.
- The Ford Aspire has the smallest increase of Rs 3,000.
- Ford has increased the price of the EcoSport by Rs 20,000.
- The Endeavour is now up to Rs 80,000 more expensive.
19-04-2021:
Mid-size hatchbacks have long been a popular choice among consumers. More often than not, the Maruti Swift has been the best-selling model in the entire passenger vehicle market. The Ford Figo and Freestyle and the Renault Triber, a sub-4m crossover MPV, are all included in this class. So, if you’re thinking about buying one, here’s how much you can save on each model until April 30th, 2021:
- Maruti’s Swift is just behind it, with perks of up to Rs 53,000.
- On the Hyundai Grand i10 Nios, you may save up to Rs 45,000.
- Offers of up to Rs 23,000 are available for both the Ford Figo and the Freestyle.
- The Renault Triber is eligible for up to Rs 55,000 in rebates.
29-04-2019:
The Grand i10 Nios from Hyundai poses an intriguing question: is it the most excellent little diesel hatchback on the market right now? Maruti Suzuki’s Swift and Ford’s Figo have previously claimed the title. Hyundai is posing major questions to both of them with the new Nios. It’s priced right in the centre — roughly Rs 45,000 more than the Figo and approximately the same as the Swift — which adds to the intrigue. Let’s start with the fundamentals.
FAQs Ford Figo Car Loan
✅ What is the Ford Figo’s accurate on-road price?
The Figo begins at Rs. 6,41,380 on the road in Delhi. RTO fees and insurance are included in the on-road pricing.
✅ In the Mid-size hatchback segment, which brand is the market leader?
In India, car manufacturers primarily focus on mid-size hatchbacks as these are vehicles purchased by a more comprehensive section of society, which are more affordable than other segments. Maruti Suzuki has the largest market share in the segment, with their Swift being the most sold vehicle.
✅ Which is the better automobile, the Figo or the Freestyle?
The Figo costs Rs 5.82 lakh ex-showroom, while the Freestyle costs Rs 7.27 lakh ex-showroom. Compare the prices, features, and specifications of these two models.
✅ What will the Ford Figo’s EMI or down payment be?
The EMI for a Ford Figo Car Loan starts at Rs 12,512 per month for a 60-month term at 9.8% for a loan sum of Rs 5.91 lakh and a down payment of Rs 66,00.
✅ Is there a sunroof on the Ford Figo?
The Ford Figo lacks a sunroof. However, some of the identical segment vehicles have sunroofs in their top models.
