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Mahindra Bolero Neo Base Model EMI: Monthly Instalment, Down Payment and On-Road Price Explained
Mahindra offers the Mahindra Bolero Neo as an SUV. If you're considering purchasing the base variant of this SUV, how much EMI will you pay after paying a down payment of Rs 1 lakh? Let's find out.
There are various segments of cars sold by the automobile company Mahindra. The Mahindra Bolero Neo falls under the SUV category. In case one wants to purchase the base model with a down payment of Rs 1 lakh and take delivery of the vehicle, what will be the monthly EMI? Let us calculate the same.
The Bolero Neo is an SUV. It comes with a base variant that costs Rs 8.99 lakh (Mahindra Bolero Neo Price). The total cost of purchasing the SUV in Delhi will be ₹78,000 RTO charges plus ₹46,000 insurance charges. Hence, the on-road price becomes about ₹10.23 lakh.
When the base model is purchased, the bank will finance the ex-showroom price of the car. Thus, after paying a down payment of ₹1 lakh, the buyer needs to finance ₹9.23 lakh from the bank. In case ₹9.23 lakh is financed for seven years with a rate of interest of 9%, the EMI becomes ₹14,858.
