Tata Tigor Base Variant: ₹2 Lakh Down Payment and ₹6,499 Monthly EMI Explained

Tata Motors, one of India's leading automakers, offers the Tata Tigor in the compact sedan segment. If you're considering purchasing the base variant and want to bring home the car after making a down payment of ₹2 lakh, what will be your monthly EMI? 

Tata Motors offers the Tigor in the compact sedan segment. The ex-showroom price of this car (Tata Tigor Price) is ₹5.49 lakh. If this car is purchased in Delhi, you will need to pay approximately ₹22,000 for the RTO and around ₹33,000 for insurance. This brings the Tata Tigor's on-road price to around ₹6.04 lakh.

If you purchase the base variant of this car, the bank will finance the car at the ex-showroom price. Thus, after making a down payment of ₹2 lakh, you will have to finance around ₹4.04 lakh from the bank. If the bank gives you ₹4.04 lakh for seven years at 9% interest, you will have to pay an EMI of ₹6,499 per month for the next seven years.

If you take a car loan of ₹4.04 lakh from the bank for seven years at 9% interest, you will have to pay an EMI of ₹6,499 per month for seven years. In such a situation, in seven years, you will pay around Rs 1.42 lakh as interest for the base variant of the Tata Tigor. After which, the total price of your car, including ex-showroom, on-road, and interest, will be around Rs 6.45 lakh.

Tata offers the Tigor as a compact-sized sedan. This car directly competes with sedan cars like the new generation Maruti Dzire, Honda Amaze, and  Hyundai Aura in the market. Apart from this, it also faces competition from SUVs like Maruti Brezza, Hyundai Venue, Tata Nexon, Kia Syros, Kia Sonet in terms of price.