.jpg)
Tata Nexon Smart: ₹2 Lakh Down Payment, Loan of ₹6.23 Lakh, 7-Year EMI ₹9,124
Car Finance Plan: Tata Motors, one of the country's leading automakers, offers the Tata Nexon. If you're considering purchasing the base variant of this vehicle, how much monthly EMI (Tata Nexon Down Payment and EMI) will you pay after making a down payment of Rs 2 lakh? Let's find out.
Tata Motors sells vehicles across various segments in India, including the Tata Nexon in the sub-four-meter SUV category. If you're planning to buy the base model and make a down payment of Rs 2 lakh, what would your monthly EMI be? This article provides this information.
The Tata Nexon's base variant, the Tata Nexon Smart, is priced at Rs 7.32 lakh ex-showroom. In Delhi, you'll need to pay approximately ₹51,000 for RTO and around ₹40,000 for insurance, totaling an on-road price of about ₹8.23 lakh.
If you buy this base variant, the bank will finance the ex-showroom cost. After paying a ₹2 lakh down payment, you will need a loan of roughly ₹6.23 lakh. Over seven years at 9% interest, this loan would require monthly EMIs of approximately ₹9,124.
Want to get your story featured as above? click here!
Want to get your story featured as above? click here!
Taking a loan of ₹7 lakh for 6.23 years at 9% interest results in monthly payments of about ₹9,124. Over seven years, you would pay roughly ₹2.53 lakh in interest, making the total cost of the car around ₹ 10.75 lakh, including ex-showroom price, on-road costs, and interest.
The Tata Nexon is a compact SUV under four meters, competing with vehicles like the Skoda Kushaq, Kia Sonet, Kia Seltos, Maruti Brezza, and Hyundai Venue.
