Kia, which is the company behind the automaker, sells the Sonet in the sub-four-meter SUV category in India. Assuming you are planning to purchase the lowest variant of the Sonet, the HTE, and intend to take the car home after paying a down payment of ₹2 lakh, how much EMI will you pay per month?

Kia, the company, retails the Sonet in the sub-four-meter SUV space. The ex-showroom cost of this SUV (Kia Sonet HTE Price) is ₹7.30 lakh. If you buy this car in Delhi, you'll need to pay approximately ₹51,000 for RTO and approximately ₹40,000 for insurance. After that, the Kia Sonet HTE on-road price is approximately ₹8.21 lakh.

If you buy the base variant HTE of this car, the bank will finance it at the ex-showroom price only. In such a case, after making a down payment of ₹2 lakh, you will have to finance around ₹6.21 lakh from the bank. If you are given ₹6.21 lakh for seven years with 9% interest, then you will have to pay an EMI of ₹9989 every month for the next seven years.

If you take a car loan of ₹6.21 lakh from the bank for seven years with an interest rate of 9%, then you will have to pay an EMI of ₹9989 every month for seven years. In such a situation, in seven years, you will pay around Rs 2.18 lakh as interest for the base variant HTE of Kia Sonet. After which, the total price of your car, including ex-showroom, on-road, and interest, will be around Rs 10.39 lakh.

Sonet is offered by Kia as a compact SUV. This car directly competes in the market with sub-four-meter SUVs like Maruti Breeza, Tata Nexon, Hyundai Venue, Nissan Magnite, Renault Kiger, Kia Syros, Skoda Kylaq, and Mahindra XUV 3XO.