Renault Kwid Base Variant: Buy with ₹1 Lakh Down Payment, EMI Starts at ₹5,954 per Month

Renault offers the Renault Kwid in the hatchback segment in the Indian market. This car is offered with a petrol engine. If you're looking to buy the base variant with a petrol engine, what EMI can you expect after making a down payment of ₹100,000? 

Renault offers the Renault Kwid as a hatchback car. The RXE is available for sale as its base variant. The ex-showroom price of this car (Renault Kwid Price) of the base variant is ₹4.30 lakh. If this car is purchased in Delhi, you will have to pay approximately ₹17,000 for RTO and approximately ₹23,000 for insurance. After which, the on-road price of the Renault Kwid becomes approximately ₹4.70 lakh.

If you purchase the base variant of this car, the bank will finance the ex-showroom price only. In such a case, after making a down payment of ₹1 lakh, you will have to finance approximately ₹3.70 lakh from the bank. If you are given ₹3.70 lakh for seven years with 9% interest from the bank, then you will have to pay an EMI of ₹5954 per month for the next seven years.

If you take a car loan of Rs 3.70 lakh from the bank for seven years with an interest rate of 9%, then you will have to pay an EMI of Rs 5954 every month for seven years. In this case, in seven years, you will pay around Rs 1.30 lakh as interest for the Renault Kwid. After which, the total price of your car, including ex-showroom, on-road, and interest, will be around Rs 6 lakh.

Kwid is offered by Renault as a hatchback car. This car directly competes in the market with cars like Maruti Alto K10, Maruti Celerio, Maruti S-Presso, and Maruti Wagon R.