Toyotas manufacture their vehicles in various regions of India. One among them is the Innova Hycross that is an MPV car. If one goes with the base variant and makes a down payment of Rs 5 lakh, what would be the EMI payable in this case?

The base variant of the Innova Hycross is known as GFleet7Str. The price of the base variant is Rs 18.70 lakh. In Delhi, the RTO cost will be approximately ₹1.87 lakh, and the insurance cost for the same vehicle will be about ₹1.01 lakh. In addition to that, TCS cost of about ₹19,000 will be added to it. This brings the on-road price of the Toyota Innova Hycross to approximately ₹21.77 lakh.

If you purchase the base variant of this car, bank financing will be provided at the ex-showroom price. So, after making a down payment of ₹5 lakh, you'll have to finance approximately ₹16.77 lakh from the bank. If you're given ₹16.77 lakh for seven years at 9% interest, you'll have to pay an EMI of ₹26,982 per month for the next seven years.

If you take a car loan of Rs 16.77 lakh from the bank for seven years with an interest rate of 9%, then you will have to pay an EMI of Rs 26982 every month for seven years. In such a situation, in seven years you will pay around Rs 5.89 lakh as interest for the Toyota Innova Hycross 7 Str. After which the total price of your car including ex-showroom, on-road and interest will be around Rs 27.66 lakh.

The Innova Hycross is offered by Toyota as an MPV. This car directly competes in the market with budget MPV cars like Maruti Ertiga, Kia Carens Clavis. Apart from this, it also faces competition from SUVs like Mahindra Scorpio, Mahindra XUV 700, MG Hector, Tata Safari.