Tata Nexon Base Variant: ₹2 Lakh Down Payment, EMI Around ₹10,052 Per Month

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.

If you take a car loan of ₹7 lakh from the bank for 6.25 years at a nine percent interest rate, you will have to pay an EMI of ₹10,052 per month for seven years. In this case, you'll pay approximately ₹2.19 lakh in interest over seven years for the Tata Nexon. The total cost, including ex-showroom, on-road, and interest, will be approximately ₹10.44 lakh.

The Nexon is offered by Tata as a compact SUV. The manufacturer's direct competition in the market is with SUVs like the Skoda Kylaq, Kia Syros, Kia Sonet, Maruti Breeza, and Hyundai Venue.