Car Loan for Honda City: Features & Benefits
Customers who wish to acquire a Honda City and pay off the amount over time can consider a Honda City Car Loan. The following are its primary characteristics:
| Features | Car Loan |
| Rate of Interest | 8.25% – 14.26% (Avg – 9.40%) |
| Provision Fee | 1.00% Min Rs. 5,000 Max Rs. 10,000 |
| Loan period | Up to 7 years |
| Minimum EMI | ₹ 1,556 per lakh |
| Amount of Loan | Up to 100% of ex-showroom price |
| Foreclosure Charges | 5% from 13-24 months, 3% after 24 months |
Honda City Car Loan Eligibility Criteria
Honda City Car Loan can be claimed after fulfilling the eligibility criteria, which is as follows:
| 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 |
Honda City Car Loan EMI Calculator
All institutions provide several sorts of car loans; the most important tool for understanding a loan is the Car Loan EMI calculator, which allows applicants to calculate the actual monthly payment they will have to make for the lifetime of their credit.
The EMI for a Honda City Car loan is calculated differently based on the method utilised.
The typical method is the EMI arrears methodology, which means that the loan amount due is paid interest on a sliding basis at or after the end of each month.
To summarise, all banks use the same fundamental procedure to calculate the amount of the EMI that will be delivered to the loan holder. The following is the formula:
E= P. r. (1+r)n/[(1+r) n -1]
The monthly payment, often known as an EMI, is denoted by the letter E.
The letter P denotes the principal amount for which you desire to apply.
the monthly interest rate expressed as a proportion of annual revenue denoted by the letter R;
The loan period is expressed in the Number of months denoted by the letter n.
Honda City Car Loan Interest Rate, Fees, and Charges
Honda City car loan fees are part of the Honda City car loan that help facilitate the loan for the applicants.
| 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 Honda City Car Loan
If an application meets all of the loan’s eligibility standards, the applicant will be asked to provide the necessary papers in order to validate his claims and meet some of the credit offers’ legal requirements before the Honda City Car Loan is disbursed. 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 |
Honda City
| ARAI Mileage | 24.1 kmpl |
| Fuel Type | Diesel |
| Engine Displacement (cc) | 1498 |
| Max Power (bhp@rpm) | 97.89bhp@3600rpm |
| Max Torque (nm@rpm) | 200nm@1750rpm |
| Seating Capacity | 5 |
| TransmissionType | Manual |
| Boot Space (Litres) | 506 |
| Fuel Tank Capacity | 40.0 |
| Body Type | Sedan |
| Service Cost (Avg. of 5 years) | Rs.12,229 |
Key Specs of Honda City
| Features of Honda City | 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 |
Honda City Latest Update
The fifth-generation City now comes with a Rs 10,000 exchange incentive. The Honda City has been priced between Rs 10.99 lakh to Rs 14.94 lakh by Honda (ex-showroom).
Honda City has several model variants, and The fifth-generation City comes in three versions V, VX, and ZX.
Honda City is available with 1.5-litre petrol and diesel engine. The petrol engine produces 121 horsepower and 145 pound-feet of torque, while the diesel engine produces 100 horsepower and 200 pound-feet of torque. The petrol model has a 6-speed manual transmission and a 7-step CVT, whereas the diesel type only has a 6-speed manual transmission. Its claimed mileage numbers are as follows:
- 17.8 kmpl for gasoline MT
- 18.4 kmpl for petrol CVT
- 24.1 kmpl diesel MT
The headlights, DRLs, and tail lights are all LED components on the Honda City. In addition, it has new diamond-cut 16-inch alloy wheels, an 8-inch touchscreen infotainment system with Android Auto, Apple CarPlay, and Weblink connectivity, as well as ambient lighting. The fifth-generation City also has Amazon Alexa voice control and linked car technology, which allows for remote engine start and unlocking, among other things.
Up to six airbags, a tyre pressure monitoring system, ABS with EBD, and ISOFIX child seat anchors are available safety features.
The Maruti Suzuki Ciaz, Hyundai Verna, Skoda Rapid, VW Vento, and Toyota Yaris are the top competitors of Honda City in the mid-size sedan segment.
Honda City Car Loan is an opportunity to generate immediate funds to buy a Honda City.
Honda City Price
In the Midl-sized sedans segment, Honda City is the market leader of mid-size sedan cars. It offers the named quality by a Multi-national car manufacturer like Honda and provides strong engine and suspension qualities. Moreover, a city in the year 2020 got a face-lift which all the latest features a modern design.
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 City compared to some of the other cars like the Toyota Yaris, etc. But the cost factor edges towards Maruti Suzuki Ciaz, which is less expensive to buy and maintain.
In New Delhi, the Honda City starts at Rs. 10.99 lakh. The cheapest model is the Honda City V MT, while the most expensive model is the Honda City ZX MT Diesel, which costs Rs. 14.94 lakh.
Compared to the Hyundai Verna, which starts at Rs. 9.19 lakh in New Delhi, and the Maruti Ciaz, which starts at Rs. 8.52 lakh.
Honda City Car Loan is an opportunity that enhances the affordability of the car for a large number of regular earners.
Prices of Honda City Ex-showroom Delhi
| V MT Diesel(Diesel) (Base Model) | |
| Ex-Showroom Price | Rs.12,59,967 |
| RTO | Rs.1,63,825 |
| Insurance | Rs.37,305 |
| Others | Rs.13,099 |
| Optional | Rs.8,299 |
| On-Road Price in New Delhi | Rs.14,74,197 |
| VX MT Diesel(Diesel) | |
| Ex-Showroom Price | Rs.13,95,967 |
| RTO | Rs.1,80,825 |
| Insurance | Rs.39,799 |
| Others | Rs.14,459 |
| Optional | Rs.8,299 |
| On-Road Price in New Delhi | Rs.16,31,051 |
| ZX MT Diesel(Diesel) (Top Model) | |
| Ex-Showroom Price | Rs.14,94,967 |
| RTO | Rs.1,93,200 |
| Insurance | Rs.41,621 |
| Others | Rs.15,449 |
| Optional | Rs.8,299 |
| On-Road Price in New Delhi | Rs.17,45,238 |
| V MT(Petrol) (Base Model) | |
| Ex-Showroom Price | Rs.10,99,967 |
| RTO | Rs.1,16,326 |
| Insurance | Rs.34,435 |
| Others | Rs.11,499 |
| Optional | Rs.8,299 |
| On-Road Price in New Delhi | Rs.12,62,228 |
| V CVT(Petrol) | |
| Ex-Showroom Price | Rs.12,39,967 |
| RTO | Rs.1,30,326 |
| Insurance | Rs.36,946 |
| Others | Rs.12,899 |
| Optional | Rs.8,299 |
| On-Road Price in New Delhi | Rs.14,20,139 |
| VX MT(Petrol) | |
| Ex-Showroom Price | Rs.12,45,967 |
| RTO | Rs.1,30,926 |
| Insurance | Rs.37,055 |
| Others | Rs.12,959 |
| Optional | Rs.8,299 |
| On-Road Price in New Delhi | Rs.14,26,908 |
| ZX MT(Petrol) | |
| Ex-Showroom Price | Rs.13,44,967 |
| RTO | Rs.1,40,826 |
| Insurance | Rs.38,860 |
| Others | Rs.13,949 |
| Optional | Rs.8,299 |
| On-Road Price in New Delhi | Rs.15,38,603 |
| VX CVT(Petrol) | |
| Ex-Showroom Price | Rs.13,75,967 |
| RTO | Rs.1,43,926 |
| Insurance | Rs.39,429 |
| Others | Rs.14,259 |
| Optional | Rs.8,299 |
| On-Road Price in New Delhi : | Rs.15,73,582 |
| ZX CVT(Petrol) (Top Model) | |
| Ex-Showroom Price | Rs.14,74,967 |
| RTO | Rs.1,53,826 |
| Insurance | Rs.41,252 |
| Others | Rs.15,249 |
| Optional | Rs.8,299 |
| On-Road Price in New Delhi | Rs.16,85,295 |
About Honda City
Since 1959, Honda has been the world’s largest motorbike manufacturer, with 400 million units produced by the end of 2019 and the world’s biggest maker of internal combustion engines by volume, with over 14 million units produced each year. In 2001, Honda overtook Toyota as Japan’s second-largest automaker. In 2015, Honda was the world’s seventh-largest automotive manufacturer.
In India, Honda has an established presence in cars as well as the two-wheelers market. Honda cars are known for there their performance and built quality. Honda City is the market leader in the mid-size sedan segment and has just last year we saw the unveiling of the modernised 5th generation of Honda City.
Honda City Car loan is an added advantage to the interested customers that want to buy Honda City.
Honda City Mileage
Honda City is a new automobile that comes in both petroleum and diesel fuel types. The Honda City’s transmission options include a standard manual transmission (MT) and an automatic transmission upgraded to a Continuously Variable Transmission (CVT) that permits switching between automatic and manual modes.
- The claimed maximum mileage under ARAI: 24.1 kmpl
- Honda City Petrol fuel economy is 17.8 kmpl
- Honda City Diesel fuel economy is 24.1 kmpl
| Fuel Type | Transmission | ARAI Mileage | City Mileage | Highway Mileage |
| Diesel | Manual | 24.1 kmpl | – | – |
| Petrol | Automatic | 18.4 kmpl | 16.28 kmpl | 20.62 kmpl |
| Petrol | Manual | 17.8 kmpl | – | – |
How to get Honda City Car Loan
Customers interested in purchasing a mid-segment sedan from a renowned automobile manufacturer will find the Honda City to be an excellent choice. Unfortunately, all banks and non-bank financial institutions may be unable to fund the car’s worth for their consumers.
Customers should choose the Honda City Car Loan since it is a carefully tailored loan. Honda City Car Loan is a programme that allows young executives and normal employees to purchase a decent sedan from a premium automaker like Honda. Honda City Car Loan creates liquidity immediately for regular earners.
To save prospective consumers time and effort, the quickest way to obtain a Honda City Car Loan is through Dialabank, India’s First Financial Helpline.
To find the best car loan for all kinds of four-wheelers, visit the Dialabank website.
OR
Call us at Dialabank: 9878981166
Honda City Car Loan News
2021-05-05:
While Honda has been busy releasing new models across the world, including the 11th-generation Civic, the Indian market only has five options. Except for the fourth and fifth generations of the City, all models have lately seen price decreases (the latter was offered with benefits last month). Honda is offering maximum discounts of up to Rs 27,298 in the city. The WR-V provides savings of up to Rs 22,158. The Jazz comes with up to Rs 21,908 in incentives.
2021-04-17:
Honda is one of the manufacturers that boosted the price of its goods in April 2021. All Honda models will see a price hike this time, with the exception of the fourth-generation City. While Honda has not issued an official announcement, the rise is most likely due to increasing input pricing.
- The 2017 Honda City is already on sale, with pricing starting at Rs 10.99 lakh and going up to Rs 14.94 lakh.
- The City has priced between Rs 6.22 lakh to Rs 9.99 lakh.
- The price of the Jazz ranges from Rs 7.55 lakh to Rs 9.79 lakh.
- The pricing of the WR-V ranges from Rs 8.62 lakh to Rs 11.05 lakh.
- The price of the fourth-generation City stays the same, from Rs 9.29 lakh to Rs 9.99 lakh.
2021-04-16:
Honda has issued a voluntary recall to replace potentially damaged fuel pumps.
Honda has issued a voluntary recall to replace a possibly faulty fuel pump that was installed in a variety of vehicles during a certain manufacturing period. Around 77,954 units are suspected to be tainted and will need to be assessed right now. These vehicles’ gasoline pumps may have malfunctioning impellers, causing the engine to halt or not start at all.
FAQs Honda City Car Loan
✅ What is Honda City’s precise on-road price?
The City begins at Rs. 12,62,228 on the road in Delhi. RTO fees and insurance are included in the on-road pricing.
✅ Which automobile is superior: the City or the Verna?
The City costs Rs 10.99 lakh ex-showroom, while the Verna costs Rs 9.19 lakh ex-showroom. The latest Hyundai Verna has offered some of the features that belong to premium section cars like temperature controlled perforated seats and cooled dashboards in order to attract more customers than Honda City.
✅ What will Honda City’s EMI or down payment be?
The EMI for a Honda City Car Loan starts at Rs 24,184 a month for a 60-month term at 9.8% for a loan amount of Rs 11.43 lakh and a down payment of Rs 1.27 lakh.
✅ Is there a sunroof on the Honda City?
Sunroofs are available on the VX MT, ZX MT, and four additional Honda City variants.
