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Tata Nexon Base Variant: ₹2 Lakh Down Payment, EMI Around ₹10,052 Per Month
Car Finance Plan: Tata Motors offers the Tata Nexon. If you are planning to purchase the base variant of this SUV, how much will you pay in monthly EMI after making a down payment of Rs 2 lakh? Let's find out.
Tata Motors offers automobiles in various segments of the market. Tata Nexon is available in the sub-four-meter SUV segment. Suppose you wish to buy the base model of Tata Nexon, but you can only pay Rs 2 lakh as down payment, what will be the EMI?
Tata Nexon is available in the compact SUV segment of the automobile market. The base model of Tata Nexon comes with an ex-showroom price of Rs 7.32 lakh. Suppose you wish to buy Tata Nexon, which is available in Delhi, then you will be required to pay Rs 59,000 for RTO charges and Rs 34,000 for insurance.
If you purchase the base variant of this car, the bank will finance the ex-showroom price. Thus, after making a down payment of ₹2 lakh, you will have to finance approximately ₹6.25 lakh from the bank. If you are given ₹6.25 lakh for seven years at a nine percent interest rate, you will have to pay an EMI of ₹10,052 per month for the next seven years.
