Know Your Cost of Owning 3 Cars Launched in 2016

Car Loan Rates EMI 2017 214 views

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

ParticularsCost (In Rs.)
Ex-Showroom price (New Delhi)3,20,000
RTO18,300
Insurance14,103
On-road price3,52,403
Estimated Down Payment50,000

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 NameMin Loan Amount
(In Rs.)
Est. Max Loan amount
(In Rs.)
Max Tenure
(In Years)
Interest RateEst.EMI
(In Rs.)
Est. Interest Amount
(In Rs.)
Est. total amount (Principal+Interest)
(In Rs.)
SBI1 lac3 lacs79.85%4,957 1,16,399 4,16,399
ICICI Bank1 lac2.5 lacs510.25%5,29767,8203,18,795
HDFC Bank1 lac2.7 lacs59.90% 5,67770,620 3,43,196
Axis Bank1 lac 3 lacs5 10.25%6,41184,6653,84,665
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Mahindra NuvoSport

ParticularsCost (In Rs.)
Ex-Showroom price (New Delhi)7,41,999
RTO73,925
Insurance27,528
On-road price8,43,452
Estimated Down Payment1,11,000

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 NameMin Loan Amount
(In Rs.)
Est. Max Loan amount
(In Rs.)
Max Tenure
(In Years)
Interest RateEst.EMI
(In Rs.)
Est. Interest Amount
(In Rs.)
Est. total amount (Principal+Interest)
(In Rs.)
SBI1 lac5.5 lacs79.85%9,0882,13,3997,63,399
ICICI Bank1 lac5.2 lacs510.25%11,1131,46,7526,66,752
HDFC Bank1 lac5 lacs59.90%10,5991,35,9366,35,936
Axis Bank1 lac5.4 lacs5 10.25%11,5401,52,3976,92,397

Maruti Vitara Brezza

ParticularsCost (In Rs.)
Ex-Showroom price (New Delhi)6,99,000
RTO70,162
Insurance25,992
On-road price7,95,154
Estimated Down Payment1,04,000

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 NameMin Loan Amount
(In Rs.)
Est. Max Loan amount
(In Rs.)
Max Tenure
(In Years)
Interest RateEst.EMI
(In Rs.)
Est. Interest Amount
(In Rs.)
Est. total amount (Principal+Interest)
(In Rs.)
SBI1 lac 6.75 lacs79.85%11,1542,61,8989,36,898
ICICI Bank1 lac6.7 lacs79.75%10,9472,49,548 9,21,573
HDFC Bank1 lac5.9 lacs59.90%12,4041,54,2407,46,816
Axis Bank1 lac6.9 lacs5 10.15% 14,5881,85,280 8,75,280
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(Updated on: 28th October, 2016)