Know Your Cost of Owning 3 Cars Launched in 2016
Last Updated : June 13, 2017, 3:25 p.m.
Following the glittering launches of Stylish cars like Renault Kwid, Hyundai Creta, Ford Figo Aspire, Mahindra TUV300 in 2015, came another round of launches like Tata Tiago, Mahindra NuvoSport, Maruti Vitara Brezza, Renault Duster, Audi R8, Jaguar XE, among others, in 2016 so far. It’s not even half of the year, but we have seen over a dozen of stylish models with attractive features hitting the Indian roads with thunder. These cars are set to make you crazy. But don’t go blindly by the technical and feature aspects, see how much you will have to shell out to own such cars. Knowing the same will help you decide the right model and right lender fitting into your budget. Out of the said cars, we will discuss on the ownership of Tata Tiago, Mahindra NuvoSport, Maruti Vitara Brezza, which come at a price of Rs 3 lacs-10 lacs.
Tata Tiago
| Particulars | Cost (In Rs.) |
|---|---|
| Ex-Showroom price (New Delhi) | 3,20,000 |
| RTO | 18,300 |
| Insurance | 14,103 |
| On-road price | 3,52,403 |
| Estimated Down Payment | 50,000 |
Note-Ex-showroom price, RTO, insurance costs will differ across different locations
Table showing EMIs, interest and total amount payout on loan from various banks to buy Tata Tiago (Assume gross income of Rs 25,000 per month)
| Bank Name | Min Loan Amount (In Rs.) | Est. Max Loan amount (In Rs.) | Max Tenure (In Years) | Interest Rate | Est.EMI (In Rs.) | Est. Interest Amount (In Rs.) | Est. total amount (Principal+Interest) (In Rs.) |
|---|---|---|---|---|---|---|---|
| SBI | 1 lac | 3 lacs | 7 | 9.85% | 4,957 | 1,16,399 | 4,16,399 |
| ICICI Bank | 1 lac | 2.5 lacs | 5 | 10.25% | 5,297 | 67,820 | 3,18,795 |
| HDFC Bank | 1 lac | 2.7 lacs | 5 | 9.90% | 5,677 | 70,620 | 3,43,196 |
| Axis Bank | 1 lac | 3 lacs | 5 | 10.25% | 6,411 | 84,665 | 3,84,665 |
Mahindra NuvoSport
| Particulars | Cost (In Rs.) |
|---|---|
| Ex-Showroom price (New Delhi) | 7,41,999 |
| RTO | 73,925 |
| Insurance | 27,528 |
| On-road price | 8,43,452 |
| Estimated Down Payment | 1,11,000 |
Note-Ex-showroom price, RTO, insurance costs will differ across different locations
Table showing EMIs, interest and total amount payout on loan from various banks to buy Mahindra NuvoSport (Assume gross income of Rs 25,000 per month)
| Bank Name | Min Loan Amount (In Rs.) | Est. Max Loan amount (In Rs.) | Max Tenure (In Years) | Interest Rate | Est.EMI (In Rs.) | Est. Interest Amount (In Rs.) | Est. total amount (Principal+Interest) (In Rs.) |
|---|---|---|---|---|---|---|---|
| SBI | 1 lac | 5.5 lacs | 7 | 9.85% | 9,088 | 2,13,399 | 7,63,399 |
| ICICI Bank | 1 lac | 5.2 lacs | 5 | 10.25% | 11,113 | 1,46,752 | 6,66,752 |
| HDFC Bank | 1 lac | 5 lacs | 5 | 9.90% | 10,599 | 1,35,936 | 6,35,936 |
| Axis Bank | 1 lac | 5.4 lacs | 5 | 10.25% | 11,540 | 1,52,397 | 6,92,397 |
Maruti Vitara Brezza
| Particulars | Cost (In Rs.) |
|---|---|
| Ex-Showroom price (New Delhi) | 6,99,000 |
| RTO | 70,162 |
| Insurance | 25,992 |
| On-road price | 7,95,154 |
| Estimated Down Payment | 1,04,000 |
Note-Ex-showroom price, RTO, insurance costs will differ across different locations
Table showing EMIs, interest and total amount payout on loan from various banks to buy Maruti Vitara Brezza (Assume gross income of Rs 25,000 per month)
| Bank Name | Min Loan Amount (In Rs.) | Est. Max Loan amount (In Rs.) | Max Tenure (In Years) | Interest Rate | Est.EMI (In Rs.) | Est. Interest Amount (In Rs.) | Est. total amount (Principal+Interest) (In Rs.) |
|---|---|---|---|---|---|---|---|
| SBI | 1 lac | 6.75 lacs | 7 | 9.85% | 11,154 | 2,61,898 | 9,36,898 |
| ICICI Bank | 1 lac | 6.7 lacs | 7 | 9.75% | 10,947 | 2,49,548 | 9,21,573 |
| HDFC Bank | 1 lac | 5.9 lacs | 5 | 9.90% | 12,404 | 1,54,240 | 7,46,816 |
| Axis Bank | 1 lac | 6.9 lacs | 5 | 10.15% | 14,588 | 1,85,280 | 8,75,280 |
(Updated on: 28th October, 2016)
