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Renault Kwid Base Model EMI: Monthly Installment, Down Payment, Loan Details and On-Road Price Explained
Automaker Renault offers the Renault Kwid in the hatchback segment. If you are considering purchasing its base variant, let’s find out what the monthly EMI would be after making a down payment of ₹2 lakh.
The Kwid is sold by Renault as a hatchback, and the starting model is termed the Evolution. The on-ex showroom price of the Kwid is ₹4.53 lakh. In Delhi, RTO prices are ₹18,000 and insurance is ₹24,000, which means that the on-road price of the vehicle is ₹4.95 lakh.
In case you purchase the base version, the bank would finance only the ex-showroom price. After paying ₹2 lakh as a down payment, you will have to take financing of ₹2.95 lakh. In case the bank gives a loan of ₹2.95 lakh for 7 years at the rate of 9%, then you would have to pay an EMI of ₹4,743 per month.
A loan of ₹2.95 lakh for 7 years at 9% interest rate means you have to pay ₹4,743 each month for 7 years. Thus, in the end, you will have paid about ₹1.03 lakh as interest on the Renault Kwid. Thus, the total price would come out to be about ₹5.98 lakh.
