Maruti Ignis Base Variant EMI: Pay Around ₹8,000/Month with ₹1 Lakh Down Payment

Maruti Suzuki is the leading car manufacturer in India, manufacturing cars in various segments. The Maruti Ignis, manufactured by Nexa, is a hatchback. What would be your monthly EMI amount for the base model if you have put ₹1 lakh as a down payment?

The Ignis is a hatchback from Maruti. The base model costs ₹5.35 lakh (excluding showroom). However, in Delhi, besides the cost excluding the showroom, you will also have to pay registration and insurance charges. The registration charge amounts to ₹29,000 and the insurance charge comes to ₹30,000. This brings the on-road price of the car in Delhi to ₹5.97 lakh.

If you purchase the base variant of the Maruti Ignis, the bank will finance the ex-showroom price. After making a down payment of ₹1 lakh, you'll need to finance approximately ₹4.97 lakh from the bank. If the bank lends you ₹4.97 lakh for seven years at 9% interest, you'll only have to pay an EMI of ₹8,000 per month for the next seven years.

If you take a car loan of Rs 4.97 lakh from the bank for seven years with an interest rate of nine percent, then you will have to pay an EMI of Rs 8,000 every month for seven years. In this case, in seven years, you will pay around Rs 1.74 lakh as interest for the base variant of Maruti Ignis. After which, the total price of your car, including ex-showroom, on-road and interest will be around Rs 7.72 lakh.

Ignis is brought by Maruti Suzuki in the hatchback segment. In this segment, it competes directly with Maruti Alto K10, Maruti Celerio, Maruti Wagon R, Tata Tiago, Hyundai i10.