Hyundai Grand i10 Nios Base Variant EMI: Pay ₹8,212 With ₹1 Lakh Down Payment

Hyundai is an automobile company that sells different types of vehicles. The types of vehicles that Hyundai sells include Hyundai i10 Grand Nios, which is a hatchback car. If you are planning to buy the basic model of the Hyundai i10 Grand Nios, how much EMI will you be able to pay if you are making a down payment of ₹1 lakh?

Hyundai Motors offers an i10 hatchback car model. The base model of this car is available at an ex-showroom price of ₹5.55 lakh. The on-road price in Delhi is around ₹6.10 lakh (approximately). Apart from the ex-showroom price, which is around ₹5.55 lakh, you will also have to shell out around ₹22,000 on RTO and around ₹33,000 on insurance.

If you are buying this variant of the Hyundai car, which is a basic variant, then the bank will finance your purchase based on the ex-showroom price. After making a down payment of ₹1 lakh, you'll need to finance approximately ₹5.10 lakh (approximately ₹5.10 lakh). If the bank lends you ₹5.10 lakh (9%) interest for seven years, you'll only have to pay an EMI of ₹8,212 per month for the next seven years.

If you take a car loan from a bank for ₹5.10 lakh for seven years at an interest rate of 9%, you will have to pay an EMI of ₹8,212 per month for seven years. In this case, you will pay approximately ₹1.79 lakh as interest for the Hyundai i10 hatchback car over seven years. After this, the total cost of the car, including ex-showroom, on-road, and interest, will be approximately ₹7.89 lakh.

The i10 is offered by Hyundai Motors in the entry-level hatchback segment. It is offered at a very low price. As such, it competes directly with hatchbacks like the Maruti Wagon R, Maruti Celerio, Maruti S-Presso, and Renault Kwid. It also faces competition from several entry-level SUVs and premium hatchbacks.