Honda offers its new Amaze in the small sedan range. In case you purchase the base model and make a down payment of ₹2 lakh, what would your EMI be for the new Amaze?

The ex-showroom price of the Honda New Amaze, which is available in the small sedan range, is ₹7.51 lakh for the V version. In case you buy it in Delhi, then you will have to pay RTO of around ₹53,000, and the insurance cost comes to ₹40,000. On-road price will therefore come to approximately ₹8.45 lakh.

In case you purchase the base version, then only the ex-showroom price gets financed. Therefore, after making a down payment of ₹2 lakh, you will have to finance approximately ₹6.45 lakh from the bank. If the bank gives you ₹6.45 lakh for seven years at 9% interest, you will have to pay an EMI of ₹10,368 per month for the next seven years.

If you take a car loan from the bank for ₹6.45 lakh for seven years at 9% interest, you will have to pay an EMI of ₹10,368 per month for seven years. In this case, over seven years, you'll pay approximately ₹2.26 lakh in interest on the base variant of the Honda Amaze. This brings the total cost of your car, including ex-showroom, on-road, and interest, to approximately ₹10.71 lakh.

Honda offers the Amaze as a compact sedan. The manufacturer's car competes directly with sedans like the new-generation Maruti Dzire, Tata Tigor, and Hyundai Aura.