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Planning to Buy Tata Punch EV? Check Monthly EMI After ₹2 Lakh Down Payment
Car Finance Plan: Tata Motors, one of the country's leading automakers, offers the Tata Punch EV in the compact electric SUV segment. If you're considering purchasing this electric SUV, how much EMI will you have to pay each month for seven years after paying ₹2 lakh (Tata Punch EV Downpayment). Let's find out.
Tata Motors offers an electric version of the SUV, called the Punch EV. Suppose you are planning to purchase this electric SUV. How much will be your monthly EMI after paying a down payment of ₹2 lakh?
Tata is launching the base model of its electric car Punch EV, called Smart, at an ex-showroom price of 9.99 lakhs. If you purchase this car in Delhi, you will have to pay a total amount of 10.45 lakhs, which includes an ex-showroom price of 9.99 lakhs, RTO charges amounting to 7,000 rupees, and insurance charges amounting to 39,000 rupees.
If you are purchasing the base model, which is Smart, then the bank will finance the vehicle at the ex-showroom price. So, after paying a down payment of ₹2 lakh, you will have to finance an amount of around ₹8.45 lakh from the bank. If you are given ₹8.45 lakh for seven years at 9% interest, you will have to pay an EMI of only ₹13,597 per month for the next seven years.
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If you take a car loan from the bank for ₹8.45 lakh for seven years at 9% interest, you will have to pay an EMI of ₹13,597 per month for the next seven years. So, over seven years, you'll pay approximately ₹2.97 lakh in interest for the Smart variant of the Tata Punch EV. After this, your car's total cost, including ex-showroom, on-road, and interest, will be approximately ₹13.42 lakh.
The Tata Punch EV is offered in the compact electric SUV segment in India. It competes with the MG Windsor EV in this segment.
