Mahindra Thar Car Loan

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Mahindra Thar Car Loan

Mahindra Thar Car Loan: Features & Benefits 

The key features of the Mahindra Thar Car Loan are as follows:

Features Car Loan
Interest Rate 8.25% to 14.26% (Avg is 9.40%)
Processing Fee 1.00%, a minimum of Rs. 5,000 to a maximum of Rs. 10,000
Loan Tenure Up to 7 years
Lowest EMI Rs. 1,556 per lakh
Loan Amount Up to 100% of ex-showroom price
Prepayment Charges 5% from 13 to 24 months, 3% after 24 months

Mahindra Thar Car Loan Eligibility Criteria

The eligibility criteria to avail of a Mahindra Thar Car Loan is given below:

Eligibility Requirements Details
Age 21 years – 60 years
Minimum Annual Income
  • For Salaried Individuals: Rs. 0.01 Lakh Lakhs
  • For Self Employed Professionals: Rs. 0.01 Lakh Lakhs
  • For Self Employed Businessmen: Rs. 0.01 Lakh Lakhs
Minimum Credit Score 700 and above
Loan Tenure Up to 7 years
Loan to Value Ratio 100% of ex-showroom price

Mahindra Thar Car Loan EMI Calculator

Many banks offer different car loans; the best method for understanding a loan is the Car Loan EMI calculator, which helps borrowers calculate the specific monthly cost they will have to bear for the length of the loan. To measure the EMI value to be stated to the loan receiver, almost all banks use the same basic formula.

The formula is:

E= P. r. (1+r)n/[(1+r) n -1]

  • E: refers to the monthly payment or EMI.
  • P: refers to the main amount for which you wish to apply.
  • r: refers to the monthly interest rate computed as a percentage of yearly income,
  • n: refers to the loan term in months.

Mahindra Thar Car Loan Interest Rate, Fees, and Charges

Interest Rate 8.25% to 14.26% (Avg of 9.40%)
Processing Fee Less than Rs. 10,000 or 0.4% of car loan sanctioned
Foreclosure Charges 3% to 6% that depends on the loan tenure (no foreclosure fees for loans disbursed after 6 months ago)
Documentation Fees Rs. 600 each time
Penalty for Late Payment 2% for each month
Financing Quantum Up to 100% depending on customer profile

Documents Required for Mahindra Thar Car Loan

If an applicant meets all of the eligibility criteria of the Mahindra Thar Car Loan, the loan provider will require the applicant to send some necessary paperwork before the loan can be disbursed in order to verify his statements and satisfy some of the specific norms of loan provision. The necessary documents are:

Individual  Documentation
Salaried Employees
  • Two Passport-size photos and a copy of your PAN card
  • Aadhaar, Passport, Driving License, Voter ID, PAN are required for identification proof.
  • Automobile rate 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 Applicants
  • Two Passport-size photos and a copy of your PAN card
  • Aadhaar, Passport, Driving License, Voter ID, and PAN are necessary for identity proof.
  • 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

Mahindra Thar

Mahindra Thar Car Loan

Engine and Transmission

Engine Type mHawk 130 Engine
Displacement (cc) 2184
Max Power 130bhp@3750rpm
Max Torque 300nm@1600-2800rpm
No. of cylinder 4
Valves Per Cylinder 4
Valve Configuration DOHC
Fuel Supply System Direct Engine
Compression Ratio 9.5:1
Turbo Charger Yes
TransmissionType Automatic
Gear Box 6 Speed
Mild Hybrid No
Drive Type 4X4

Fuel & Performance

Fuel Type Diesel
Fuel Tank Capacity (Litres) 57.0
Emission Norm Compliance BS VI

Suspension, Steering & Brakes

Front Suspension Independent Double Wishbone Front Suspension with Coil-Over Damper & Stabiliser Bar
Rear Suspension Multilink Solid Rear Axle with Coil-Over Damper & Stabiliser Bar
Steering Type Power
Steering Column Tilt
Steering Gear Type Rack & Pinion
Turning Radius (Metres) 5.25m
Front Brake Type Disc
Rear Brake Type Drum

Dimensions & Capacity

Length (mm) 3985
Width (mm) 1855
Height (mm) 1844
Seating Capacity 4
Ground Clearance Unladen (mm) 226
Wheel Base (mm) 2450
Front Tread (mm) 1520
Rear Tread (mm) 1520
No of Doors 3

Mahindra Thar Price

The Mahindra Thar car ranges between Rs. 12.11 lakh and Rs. 14.16 lakh. The Mahindra Thar is available in ten different models, with the AX Opt 4-Str Convert Top being the most affordable and the Mahindra Thar LX 4-Str Hard Top Diesel AT being the most expensive.

Prices of Mahindra Thar Ex-showroom Delhi

Variant Specs
Ex-Showroom Price
AX Opt 4-Str Convert Top 1997 cc, Manual, Petrol Rs. 12.11 Lakh
AX Opt 4-Str Convert Top Diesel 2184 cc, Manual, Diesel, 15.2 kmpl Rs. 12.31 Lakh
AX Opt 4-Str Hard Top Diesel 2184 cc, Manual, Diesel, 15.2 kmpl Rs. 12.41 Lakh

Down payment required for Mahindra Thar Car Loan

  • The downpayment for a Mahindra Thar AX Opt 4-Str Convert Top with a loan at a 9.8% rate is Rs.1.41 Lakh, with an EMI of Rs.27,024 for 60 months.
  • The downpayment for a Mahindra Thar AX Opt 4-Str Convert Top Diesel with a loan at a 9.8% rate is Rs.1.47 Lakh, with an EMI of Rs.28,164 for 60 months.
  • The downpayment for a Mahindra Thar AX Opt 4-Str Hard Top Diesel with a loan at a 9.8% rate is Rs.1.49 Lakh, with an EMI of Rs.28,392 for 60 months.
  • The downpayment for a Mahindra Thar LX 4-Str Hard Top with a loan at a 9.8% rate is Rs.1.49 Lakh, with an EMI of Rs.28,531 for 60 months.
  • The downpayment for a Mahindra Thar LX 4-Str Convert Top Diesel with a loan at a 9.8% rate is Rs.1.57 Lakh, with an EMI of Rs.30,071 for 60 months.

About Mahindra Thar

The Mahindra Thar is a four-seater SUV that costs between 12.12 and 14.17 lakh rupees. It comes in ten different configurations, with one engine and two transmission options: manual and automatic (Torque Converter). Ground Clearance of 219 mm is another important feature of the Thar. The Thar is available in six different colours. The Thar has always been a competent off-roader, but it’s also a more planted car on the highway. As a result, it has a strong case to be considered as a daily commute alternative.

New Safety & Security Features which are found on Every model of Mahindra Thar

Since the Mahindra Thar is a tough off-roader, it only has a few safety features. Only the top-of-the-line model comes with an engine immobiliser. Few safety features are as follows.

  • Central locking
  • Traction control
  • Power door locks

Mahindra Thar Comparison with similar cars

Specs Jeep Wrangler Mahindra Thar Mahindra Bolero
On Road Price Rs.66,78,306* Rs.16,32,304* Rs.10,69,762*
Engine Type Petrol Engine mStallion 150 TGDi Engine mHAWK75 BSVI
Displacement (cc) 1998 1997 1498
Max Power (bhp@rpm) 268bhp@5250rpm 150bhp@5000rpm 74.96bhp@3600rpm
Max Torque (nm@rpm) 400nm@3000rpm 320nm@1500-3000rpm 210Nm@1600-2200rpm
No Of Cylinder 4 4 3
Valves Per Cylinder 4 4 4
Transmission Type Automatic Automatic Manual
Fuel Type Petrol Petrol Diesel
Mileage (ARAI) 12.1 kmpl 16.0 kmpl
Fuel Tank Capacity Not Available (Litres) 57.0 (Litres) 60.0 (Litres)

Mahindra Thar Mileage

Fuel Type Transmission ARAI Mileage  City Mileage
Diesel Manual 15.2 kmpl
Petrol Manual 15.2 kmpl
Petrol Automatic 9.16 kmpl 12.18 kmpl

How to get Mahindra Thar Car Loan

The fastest way to get a car loan for a Mahindra Thar is through Dialabank, India’s First Financial Helpline. As a result, customers who participate can save time and money. Please visit to apply for a loan. Dialabank can also be reached by mobile at 9878981166.

Mahindra Thar News

Feb 12, 2021 – Mahindra Thar vs Mahindra XUV300: Not What You Think Comparison

After all the tests we have put the two cars through, one thing has become absolutely clear. The Thar is not as capable as an urban SUV in terms of its space and practicality. While it comes close in a few aspects like cabin features and storage, the difference in boot space, rear-seat comfort, and ride quality are significant. Overall, even in this new generation, the Thar ends up feeling like a compromise inside the city. Now whether you are ready to make that compromise, given the Thar’s charming road presence and off-road capability, is a decision you will have to take along with your family.

Oct 05, 2020 – Here Is How You Can Make Your Thar Look Different!

Mahindra has launched the new Thar at a starting price of Rs 9.80 lakh. Although it is available in just three variants – AX, AX(O) and LX – Mahindra is offering the Thar in more than 10 different configurations depending on the number of seats, type of roof and powertrain. As if that was not enough, there’re also various other accessories and merchandise options on offer with the Thar to give the SUV a unique appearance and capabilities.

Mahindra Thar FAQs

✅ What is Mahindra Thar’s exact on-road price?

The Thar starts at Rs. 14,19,820 on the road in Delhi. RTO fees and insurance are included in the on-road price.

✅ What are the current Mahindra Thar offers for May?

One offer is available on the Mahindra Thar in Delhi for the month of May 2021.

✅ Which is best, the Thar or the Wrangler?

The Thar costs Rs 12.11 lakh ex-showroom, while the Wrangler costs Rs 53.90 lakh ex-showroom. Compare the prices, features, and specifications of these two models.

✅ What would Mahindra Thar’s EMI or down payment be?

The EMI begins at 27,024 per month for a 60-month term at 9.8% for a loan amount of Rs 12.77 lakh, with Rs. 1.42 lakh down payment.