Honda City eHEV Costs ₹28,888/Month with ₹5 Lakh Down Payment: Full Loan Breakdown

Honda Cars, one of the country's leading automakers, sells vehicles in several segments in the Indian market. The manufacturer offers the Honda City as a mid-size sedan. If you want to buy the eHEV variant of this mid-size sedan after making a down payment of Rs 5 lakh, what will the monthly EMI be?

Honda is providing the Honda City with the option of an eHEV model. The ex-showroom price of the car is ₹19.90 lakh. If you purchase the car in Delhi, the RTO charges will be around ₹2.10 lakh. The insurance will be around ₹60,000. The TCS charges will be around ₹25,000. The total amount will be around ₹22.95 lakh.

If you select the hybrid option, the bank will fund the ex-showroom price of the car. After deducting the down payment of ₹5 lakh, the amount that the bank will fund is around ₹17.95 lakh. If the bank gives you ₹17.95 lakh for seven years at 9% interest, you will have to pay an EMI of ₹28,888 per month for the next seven years.

If you take a car loan of Rs 17.95 lakh from a bank for seven years at an interest rate of 9%, you will have to pay an EMI of Rs 28,888 every month for seven years. In this case, you will pay around Rs 6.31 lakh as interest for the Honda City in seven years. After which, the total price of your car, including ex-showroom, on-road and interest, will be around Rs 29.26 lakh.

Honda offers the City as a mid-size sedan. This car competes with the Skoda Slavia, Volkswagen Virtus, and Hyundai Verna.