Toyota Glanza EMI Details: Buy with ₹1 Lakh Down Payment, Pay ₹10,782 EMI for 7 Years

Toyota sells its vehicles in several segments in the Indian market. The manufacturer sells the Toyota Glanza in the premium hatchback segment. If you're also considering buying it, how much EMI can you pay each month after making a down payment of ₹100,000?

For the hatchback segment base variant, Toyota offers the E variant of the Toyota Glanza. This ex-showroom variant costs ₹6.39 lakh. If purchased in Delhi, its on-road price is approximately ₹7.63 lakh. This price includes the ₹6.39 lakh ex-showroom price, plus approximately ₹45,000 for RTO and approximately ₹36,000 for insurance.

If you purchase the base variant of this car, the bank will finance the ex-showroom price. So, after making a down payment of ₹1 lakh, you will have to finance approximately ₹6.63 lakh from the bank. If you are given ₹6.63 lakh for seven years at a nine percent interest rate, you will have to pay only ₹10,782 in EMIs per month for the next seven years.

If you take a car loan from a bank for ₹6.63 lakh for seven years at a nine percent interest rate, you will have to pay ₹10,782 in EMIs per month for seven years. In this case, you will pay approximately ₹2.42 lakh as interest for the Toyota Glanza over seven years. After this, the total cost of the car, including ex-showroom, on-road charges, and interest, will be approximately ₹10.05 lakh.

Toyota has launched the Glanza in the premium hatchback segment. It competes directly with the Maruti Baleno, Citroen C3, Hyundai i20, and JSW MG Astor. Furthermore, it also faces stiff competition from several SUV segment cars in terms of price.