Mahindra Thar 2026: Check Loan Amount, Down Payment, and Monthly EMI Details

Mahindra Thar Loan and EMI Details: In India, the Mahindra Thar has become more than just a vehicle, but an emotion. According to the latest reports from March 8, 2026, the Thar craze is at its peak among people of all ages, from young people to women. This is why the Thar’s roar can be heard on every street, whether in the city or in the countryside. But do you know what your monthly salary should be to add this powerful off-roader to your garage? If you’re planning to buy a Thar and are a little confused about the loan calculations, this article is for you. Here, we’ll tell you which Thar model you can afford on a salary of ₹50,000 and how much the monthly EMI will cost you.

What should your monthly salary be

Getting a car loan in India has become quite easy, but banks do assess your repayment capacity. Typically, a minimum annual income of ₹3 lakh or a monthly salary of ₹25,000 is required for a car loan. Banks often offer loans up to 48 times a customer’s monthly salary.

Let’s say your monthly salary is ₹50,000. A bank can offer you a maximum car loan of ₹24,00,000 (50,000 x 48). Since the top-of-the-line Thar model costs around ₹21.20 lakh (on-road) in Delhi, a person with a salary of ₹50,000 can easily qualify for a loan for any Thar model. However, keep in mind that banks also consider your current expenses and past debts when granting a loan.

How much money will you spend out of pocket each month

As exciting as buying a Thar is, paying its EMIs can be equally challenging if planning isn’t right. Let’s understand this with an example. If you want to buy the top-of-the-line Mahindra Thar, which costs around ₹21.20 lakh on-road and make a down payment of ₹5 lakh, you’ll need to take out a bank loan of around ₹16.20 lakh.

If the bank gives you this loan for 5 years (60 months) at an interest rate of 8.5%, your monthly installment (EMI) will be approximately ₹33,852. Financial experts believe that your car EMI should not exceed 30-35% of your total salary. Therefore, an EMI of ₹33,000 on a salary of ₹50,000 may seem a bit steep. In such a situation, you can either increase the down payment amount or extend the loan term to 7 years to reduce the installment burden.

Keep these things in mind when taking a loan

Be sure to check your CIBIL score before applying for a Mahindra Thar loan. If your score is above 750, you can get a loan at a lower interest rate (around 8.5%), significantly saving your total EMI. Additionally, many banks currently offer ‘zero down payment’ schemes, but these tend to increase the interest burden. Try to make at least a 20-25% down payment for the Thar upfront. This will not only reduce your EMI but also speed up the loan approval process.