Tata Motors Tata Tiago Base Variant EMI: Pay Just ₹4,996 Monthly After ₹2 Lakh Down Payment

Tata Motors is a renowned Indian automaker with a variety of cars in different segments. Tata also offers the Tata Tiago, a hatchback car. If you are planning to buy the base variant of the Tata Tiago, what will be your EMI, along with a down payment of Rs 2 lakhs?

The base variant of the Tata Tiago costs Rs 4.57 lakhs, while the on-road price of the Tata Tiago in Delhi is Rs 5.10 lakhs, which includes Rs 4.57 lakhs as the ex-showroom price, Rs 26,000 as RTO charges, and Rs 27,000 as insurance costs.

If you are planning to buy the base variant of the Tata Tiago, the bank will finance the ex-showroom price of the car. So, after making a down payment of ₹2 lakh, you will have to finance an amount of approximately ₹3.10 lakh from the bank. If you are given ₹3.10 lakh for seven years at a nine percent interest rate, you will have to pay only ₹4,996 in EMIs per month for the next seven years.

If you take a car loan from a bank for ₹3.10 lakh for seven years at a nine percent interest rate, you will have to pay ₹4,996 in EMIs per month for seven years. Thus, over seven years, you will pay approximately ₹1.09 lakh in interest for the Tiago. After which, you will pay a total price of around Rs 6.19 lakh including ex-showroom, on-road and interest.

Tata Motors brings Tiago in the hatchback car segment. In the Indian market, it competes directly with hatchback cars like Maruti Alto K10, Celerio, S Presso, Wagon R, Hyundai Grand Nios i10. Apart from this, in terms of price, it also faces tough competition from many hatchback, premium hatchback and SUV segment cars.