Maruti Victoris Base Variant EMI Explained: ₹16,359 Monthly After ₹2 Lakh Down Payment
Car Finance Plan: Automaker Maruti Suzuki sells vehicles in several segments in the Indian market. The Maruti Victoris is also sold by the manufacturer. If you're considering buying the base variant of this SUV, how much EMI can you pay each month after making a down payment of just ₹2 lakh? Let's find out.
Maruti Suzuki, one of the largest car manufacturers with models available in various segments, is providing the Maruti Victoris in the market, which is a mid-size SUV. Suppose you are planning to acquire the base model of the SUV available in the market and you want to take the car home after making an initial payment of ₹2 lakh, then how much EMI you need to pay every month?
Maruti Suzuki has different variants of the Victoris models. The LXI is the base model available in the market. The ex-showroom price of the base model of this SUV car (Maruti Victoris Price) starts at ₹10.50 lakhs. If you buy this car in Delhi, you will need to pay around ₹1.05 lakhs as RTO and around ₹51,000 as insurance charges. There will be an additional charge of TCS of ₹10,499. After this, the Maruti Victoris on-road price becomes approximately ₹12.16 lakh.
If you purchase the base variant of this vehicle, the bank will finance the ex-showroom price only. Thus, after making a down payment of ₹2 lakh, you will have to finance approximately ₹10.16 lakh from the bank. If the bank gives you ₹10.16 lakh for seven years with 9% interest, then you will have to pay an EMI of ₹16,359 per month for the next seven years.
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If you take a car loan of Rs 10.16 lakh from the bank for seven years with an interest rate of 9%, then you will have to pay an EMI of Rs 16359 every month for seven years. In this case, in seven years you will pay around Rs 3.57 lakh as interest for Maruti Victoris. After which the total price of your car including ex-showroom, on-road and interest will be around Rs 15.74 lakh.
Maruti Suzuki is offering Victoris as an SUV larger than four meters. This car competes directly in the market with SUVs like Maruti Grand Vitara, Kia Seltos, Hyundai Creta, Honda Elevate, Mahindra XUV 700, Scorpio N.
