Tata Motors is an Indian automobile manufacturer whose vehicles are classified into different categories. It also makes the Tata Tiago available as a hatchback. Suppose you are considering purchasing the CNG variant of this vehicle, what will be the monthly EMI payable after paying ₹2 lakh as a down payment?

A base model of this vehicle costs ₹5.54 lakh on an ex-showroom basis. In Delhi, the on-road cost is approximately ₹6.09 lakh, comprising ₹5.54 lakh (ex-showroom) + around ₹22,000 for RTO + around ₹33,000 for insurance.

In case of purchasing the base model of this vehicle, the financing will be done by the bank on the ex-showroom price. So, after making a down payment of ₹2 lakh, you will have to finance an amount of approximately ₹4.09 lakh from the bank. If you are given ₹4.09 lakh for seven years at a nine percent interest rate, you will have to pay an EMI of only ₹6,585 per month for the next seven years.

If you take a car loan from a bank for ₹4.09 lakh for seven years at a nine percent interest rate, you will have to pay an EMI of ₹6,585 per month for seven years. Thus, over seven years, you will pay approximately ₹1.43 lakh as interest on the Tiago. After which, you will pay a total price of around ₹7.53 lakh (ex-showroom, on-road, and interest).

The Tiago is offered by Tata Motors in the hatchback segment. In the Indian market, it competes directly with hatchbacks like the Maruti Alto K10, Celerio, S-Presso, Wagon R, and Hyundai Grand Nios i10. Furthermore, in terms of price, it faces stiff competition from numerous hatchbacks, premium hatchbacks, and SUVs.

If you take out a car loan from a bank for ₹3.10 lakh for seven years at an interest rate of 9%, you will have to pay an EMI of ₹4,996 per month for seven years. Thus, over seven years, you will pay around ₹1.09 lakh (ex-showroom, on-road, and interest). The total price of the Tiago, including ₹6.19 lakh (ex-showroom, on-road, and interest), will be around ₹6.19 lakh.

The Tiago is offered by Tata Motors in the hatchback segment. In the Indian market, it competes directly with hatchbacks like the Maruti Alto K10, Celerio, S-Presso, Wagon R, and Hyundai Grand Nios i10. Furthermore, it faces stiff competition from a number of other hatchbacks, premium hatchbacks, and SUVs in the price segment.