How Much EMI for Mahindra Thar After ₹1 Lakh Down Payment? Full Calculation Inside

Mahindra is the largest SUV manufacturer in India, and the company offers cars in different segments. Mahindra Thar is a SUV. You want to buy this SUV. How much amount would you pay as EMI for this car if you pay 1 lakh as down payment?

AXT is the base model of the Thar in the diesel variant. The price of this base model of the Thar, as quoted by the company, is 9.99 lakh rupees. When you buy this car in Delhi, you have to pay the ex-showroom price of the car, which is 9.99 lakh rupees, plus registration and insurance. Registration charges are around 87,000 rupees, and insurance charges are around 49,000 rupees. Therefore, the on-road price of the car in Delhi comes to around 11.36 lakh rupees.

If you purchase the Mahindra Thar Diesel's base variant, the AXT, the bank will finance the ex-showroom price. After making a down payment of ₹1 lakh, you'll need to finance approximately ₹10.36 lakh from the bank. If the bank lends you ₹10.36 lakh for seven years at 9% interest, you'll have to pay a monthly EMI of just ₹16,667 for the next seven years.

If you take a car loan of Rs 10.36 lakh from the bank for seven years with an interest rate of 9%, then you will have to pay an EMI of Rs 16667 every month for seven years. In such a situation, in seven years you will pay around Rs 3.64 lakh as interest for the base variant AXT of Mahindra Thar Diesel. After which the total price of your car including ex-showroom, on-road and interest will be around Rs 15 lakh.

Thar is brought by Mahindra in the SUV segment. In this segment, it directly competes with Mahindra's Thar Roxx. But in terms of price and off-roading capability, it also faces competition from Force Gurkha and Maruti Suzuki Jimny.