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Planning to Buy a Mahindra Bolero? Here's Your Monthly EMI with a Rs. 2 Lakh Down Payment
Car Finance Plan: Mahindra offers the Mahindra Bolero as an SUV in the Indian market. If you are considering purchasing the base variant of this vehicle, how much monthly EMI (Mahindra Bolero Down Payment and EMI) will you pay after paying a down payment of Rs. 2 lakh? Let's find out.
Mahindra sells vehicles across various segments in the Indian market, with the Mahindra Bolero positioned in the SUV category. If you're considering purchasing the base model and plan to pay a Rs. 2 lakh down payment, you might wonder what your monthly EMI (including the down payment and EMI) would be.
The Mahindra Bolero, classified as an SUV, has a base variant priced at Rs. 7.99 lakh (ex-showroom). When bought in Delhi, additional costs include approximately ₹70,000 for RTO and ₹42,000 for insurance, bringing the total on-road price to around ₹9.11 lakh.
If you opt for the base variant, the bank finances only the ex-showroom price. After a Rs. 2 lakh down payment, you need to finance about Rs. 7.11 lakh over seven years at 9% interest. This results in a monthly EMI of approximately ₹11,140.
Over seven years, with Rs. 7.11 lakh borrowed at 9%, you'd pay roughly Rs. 2.50 lakh in interest, making the total cost of the car—including ex-showroom, on-road expenses, and interest—about Rs. 11.61 lakh.
The Mahindra Bolero, as an SUV, competes with models like the Maruti Grand Vitara, Hyundai Creta, Kia Seltos, and Honda Elevate.
