Tata Motors is a leading Indian manufacturer of automobiles in several different categories. It has the Tata Altroz model under the premium hatchback category. How much will be the monthly payment for a seven-year period on EMI of the car in its CNG variant if your down payment is ₹100,000?

Tata Motors manufactures the Tata Altroz in the premium hatchback category. The CNG variant costs ₹7.30 lakh on ex-showroom basis. Your additional cost for registering and insuring the vehicle in Delhi will amount to ₹51,000 and ₹39,000, respectively, giving you an on-road price of ₹8.20 lakh.

In case you plan to finance the purchase of your Tata Altroz CNG variant through bank loan, the loan will be calculated on the ex-showroom price. So, after making a down payment of ₹1 lakh, you'll need to finance around ₹7.20 lakh from the bank. If you're given ₹7.20 lakh for seven years at a nine percent interest rate, you'll have to pay a monthly EMI of just ₹11,596 for the next seven years.

If you take a car loan from a bank for ₹7.20 lakh for seven years at a nine percent interest rate, you'll have to pay a monthly EMI of ₹11,596 for seven years. In this case, over seven years, you'll pay around ₹2.53 lakh in interest for the base CNG variant of the Tata Altroz. After this, the total cost of your car, including ex-showroom, on-road, and interest, will be around ₹10.74 lakh.

The Altroz ​​is offered by Tata Motors in the premium hatchback segment. In this segment, it competes directly with cars like the Maruti Suzuki Baleno, Toyota Glanza, and Hyundai i20. Apart from these, it also faces competition from some compact SUVs in terms of price.