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Planning to Buy Skoda Slavia? Here’s the EMI If You Pay ₹3 Lakh Down Payment
Car Finance Plan: Skoda, the automaker, offers the Skoda Slavia as a mid-size sedan. If you're planning to buy the base variant, how much EMI will you have to pay after a down payment of ₹3 lakh? Let's find out.
Skoda is a prominent car manufacturer in India, and it offers the Skoda Slavia model in the Indian market. If you pay ₹3 lakh as an initial deposit to purchase the base variant of this mid-size sedan, what will be your monthly EMI?
The base variant of the Skoda Slavia is named the Classic. The ex-showroom price for the base variant of this sedan is ₹10 lakh. If you purchase this car in Delhi, you will have to pay ₹10 lakh ex-showroom, along with registration and insurance charges. The registration charge is approximately ₹1.04 lakh, and the insurance charge is ₹61,000.
If you purchase the base variant of the Skoda Slavia, the bank will finance the ex-showroom price. After making a down payment of ₹3 lakh, you'll need to finance approximately ₹8.67 lakh from the bank. If the bank lends you ₹8.67 lakh for seven years at 9% interest, you'll have to pay a monthly EMI of just ₹13,944 for the next seven years.
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If you take a car loan of Rs 8.67 lakh from the bank for seven years with an interest rate of 9%, then you will have to pay an EMI of Rs 13944 every month for seven years. In this case, in seven years you will pay around Rs 3.04 lakh as interest for the base variant of Skoda Slavia. After which the total price of your car including ex-showroom, on-road and interest will be around Rs 14.71 lakh.
Slavia is brought by Skoda in the mid-size sedan car segment. In this segment, it competes directly with cars like Volkswagen Virtus, Hyundai Verna, Honda City.
