Upcoming New Cars in India – Price List, Downpayment and EMI Options

The second half of 2017 has begun on a good note for the car lovers with the launch of new cars in India, including Tata Hexa and Jeep Compass SUV models, in the month of July. You can drive these cars on the road by paying the lowest EMI of 18,000. Looking at the EMI amount, it can be safely assumed that individuals with a monthly income of 45,000 and above would get the thumbs up response from the lenders offering a car loan to buy these vehicles. But in your subconscious mind, you would be deep in the thoughts of what’s gonna be the EMI payable from your pocket, right! So, read the article carefully to get an understanding of what to expect on the repayment front.

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    Upcoming New Cars in India – Loan Amount, EMI Options & Other Factors

    Yes, the loan can be easily availed from banks and non-banking financial companies to buy these models at an interest rate of 8.75%-12% per annum. The quantum of finance can differ from bank to bank, based on the income and repayment capability you would have. On an average, a loan of upto 85%-90% of the on-road price can be provided to buy any of the Tata Hexa or Jeep models. The addition of ex-showroom price, RTO, insurance and other charges gives the figure of the on-road price of the vehicle. The loan tenure can be a maximum of upto 7 years. The EMI calculation depends on the loan amount, interest rate charged and the tenure for which the credit is availed. The formula for EMI calculation is shown below.

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    EMI = [P x R x (1+R)^N]/[(1+R)^N-1],

    P= Principal Loan Amount
    R=Rate of Interest
    N=Number of Monthly Installments

    Let’s find out the loan amount and EMI while buying any of the newly launched models in the tables below. In addition, check out the ex-showroom price and on-road price of the vehicles.

    Price List in India, EMI Options & Other Details of New Cars

    Car ModelsEx-showroom Price (In Lakhs)On-road Price (In Lakhs)Down Payment (In ₹)Expected Loan Amount (In Lakhs)Expected EMI (In ₹)
    New Maruti Suzuki Dzire5.43 - 9.395.85 - 10.550.88 - 1.054.97 - 9.507,933 - 16,770
    Maruti Suzuki Baleno8.34 -8.699.30 - 9.651.28 - 1.407.90 - 8.3713,089 - 13,946
    Maruti Suzuki Ignis4.56 -8.084.93 - 7.070.74 - 1.244.19 - 8.316,688 - 13,265
    Maruti Suzuki Vitara Brezza7.24 - 9.918.15 - 11.141.12 - 1.22 6.93 - 10.0211,062 - 17,688
    Hyundai Creta9.29 - 14.5510.40 - 17.271.56 - 1.738.84 - 15.5414,111 - 27,432
    New Hyundai Verna8.00 - 12.408.95 - 14.741.34 - 1.477.61 - 13.2712,147 - 23,425
    Renault Duster8.29 - 13.46 9.16 - 15.681.37 - 1.577.79 - 14.1112,435 - 24,908
    Renault Kwid2.62 - 4.532.89 - 4.970.43 - 0.502.46 - 4.473,927 - 7891
    Jeep Compass15.16 - 21.3717.69 - 25.181.77- 3.78 15.04 - 22.6624,008 - 40,001
    Tata Hexa10.96 - 16.2413.53 - 19.901.99 - 2.03 11.50 - 17.9118,357 - 31,616
    Skoda Octavia15.49 - 18.9617.97 - 22.512.25 - 2.70 15.27 - 20.2624,375 - 35,764

    Tata Hexa Models – Price List in India, Downpayment and EMI Options

    Tata Hexa is launched in six different variants with a 2.2-litre diesel engine having a 6-speed manual or automatic transmission. The maximum power and maximum torque in these variants can be 154 bhp and 400 Nm, respectively. Let’s check out what you need to shell out to buy any of the Hexa models you opt for.

    Car ModelsVariantsEx-showroom Price (In Lakhs)On-road Price (In Lakhs)Expected Loan Amount (In Lakhs)Expected EMI (In Lakhs)
    XEDiesel10.9613.5311.50 - 12.1718,357 - 21,483
    XMDiesel12.8115.7913.42 - 14.2121,422 - 25,085
    XMADiesel13.9117.1214.55 - 15.4023,225 - 27,185
    XTDiesel15.0418.4615.70 - 16.6125,061 - 29,321
    XTADiesel16.1319.7916.82 - 17.8126,849 - 31,440
    XT4x4Diesel16.2419.916.91 - 17.9126,993 - 31,616

    Skoda Octavia Models – Price List in India, EMI Options & Other Details

    Skoda Octavia facelift is now at the showroom at an ex-showroom price of ₹15.49 lakhs. The new model is spread across 3 trim levels-Style, Style Plus and Ambition. The new model is powered by 1.4-litre petrol, 1.8-litre petrol and 2-litre diesel engines with both manual and automatic transmission. The maximum power and maximum torque stand at 141 bhp and 320 Nm, respectively. The car looks great to the eye with the incorporation of new LED headlamps, wider & angular signature grille, new fog lamp assembly, remolded bumper and a wider chrome slat

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    EMI, Amount of Loan and Other Details Pertaining to Skoda Octavia Variants

    Car ModelsVariantsEx-showroom Price (In Lakhs)On-road Price (In Lakhs)Expected Loan Amount (In Lakhs)Expected EMI (In Lakhs)
    1.4 TSI AmbitionPetrol15.4917.9715.27 - 16.1724,375 - 28,544
    2.0 TDI AmbitionDiesel16.920.0917.07 - 18.0827,248 - 31,916
    1.4 TSI StylePetrol17.520.2617.22 - 18.2327,487 - 32,181
    1.4 TSI ATPetrol18.5921.6118.36 - 19.4529,307 - 34,355
    2.0 TDI CR StyleDiesel18.9622.5119.13 - 20.2630,536 - 35,764

    New Maruti Suzuki Dzire Models – Price List in India, EMI Options & Other Details

    Leading automaker Maruti Suzuki has launched the 2017 version of its best selling sedan Maruti Suzuki Dzire in both petrol and diesel engine variants. Named as the Dzire, the third update of the sedan is built from a scratch will all new styling. The car takes the design of the new horizontally slatted hexagonal grille, chrome lining & accents. The headlamps of the new generation are fitted with LED daytime running lamps. When it is about the interiors, the car is studded with all new wooden inserts on the dashboard, door trims and steering. The trims are available in five options-L, V, V+,Z and Z+.

    The 1.2-litre four cylinder unit petrol engine generates 84 bhp of power mated to a 5-speed manual and 5-speed automatic transmission. On the other hand, the 1.3 litre- turbocharged diesel multijet engine generates 74 bhp power. Like petrol engine variants, the diesel engine options also have a 5-speed manual and 5-speed automatic transmission.

    EMI, Amount of Loan and Other Details Pertaining to New Dzire Variants

    Car ModelsVariantsEx-showroom Price (In Lakhs)On-road Price (In Lakhs)Expected Loan Amount (In Lakhs)Expected EMI (In Lakhs)
    LXIPetrol5.435.854.97 - 5.277,933 - 9,303
    VXIPetrol6.276.945.90 - 6.259,418 - 11,033
    LDIDiesel6.447.246.15 - 6.52 9,817 - 11,510
    VXI AMTPetrol6.737.456.33 - 6.7110,104 - 11,845
    ZXIPetrol7.027.786.61 - 7.0010,551 - 12,357
    VDIDiesel7.288.186.95 - 7.3611,094 - 12,992
    ZXI AMTPetrol7.498.287.03 - 7.4511,222 - 13,151
    VDI AMTDiesel7.758.717.40 - 7.8411,812 - 13,840
    ZXI PlusPetrol7.98.737.42 - 7.8611,844 - 13,875
    ZDIDiesel8.049.037.68 - 8.13 12,259 - 14,352
    ZXI Plus AMTPetrol8.379.257.86 - 8.3312,547 - 14,705
    ZDI AMTDiesel8.519.568.13 - 8.6012,978 - 15,181
    ZDI PlusDiesel8.9210.028.52 - 9.0213,600 - 15,9213
    ZDI Plus AMTDiesel9.3910.558.97 - 9.5014,318 - 16,770
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    Maruti Suzuki Baleno Models – Price List in India, EMI Options & Other Details

    Maruti Suzuki has launched versions of its popular hatchback model Baleno. In March 2017, the automobile giant had dished out Baleno RS hatchback at an ex-showroom price of ₹8.69 lakhs. The on-road price can go up to ₹9.65 lakhs. You can visit any of the Nexa outlets to buy the same. The 1-litre Jet petrol engine-powered vehicle is mated to a 5-speed manual gearbox while generating 101 bhp power and peak torque of 150 Nm.

    Months down the line in July, the auto manufacturer had launched the premium automatic variant of the Baleno model, Alpha 1.2 AT, at an ex-showroom price of ₹8.34 lakhs. The on-road price can be around ₹9.30 lakhs. The Alpha version has compensated for the features missed out in Zeta and Delta variants. Exciting additions like projector lamps, SmartPlay infotainment system and alloy wheels have given a smart look to the car.

    EMI, Amount of Loan and Other Details Pertaining to Baleno Models

    Car ModelsVariantsEx-showroom Price (In Lakhs)On-road Price (In Lakhs)Expected Loan Amount (In Lakhs)Expected EMI (In Lakhs)
    Baleno RSPetrol8.699.658.20-8.6913,089-15,340
    Baleno Alpha ATPetrol8.349.37.90-8.3712,610-13,946

    Note- The loan amount and EMI are calculated at 85%-90% of the on-road price of the new car models. Also, the ex-showroom and on-road price of the models belong to New Delhi. These prices can differ across the states and cities.

    Personal Loan Interest Rates August 2018
    Bajaj Finserv10.99% - 16.00%
    Fullerton India14.00% - 33.00%
    HDFC Bank11.25% - 21.25%
    ICICI Bank10.99% - 18.40%
    IndusInd Bank10.99% - 16.00%
    Kotak Bank10.99% - 20.99%
    RBL13.00% - 18.00%
    Standard Chartered Bank10.99% - 14.49%
    Tata Capital10.99% - 18.00%
    Home Loan Interest Rates August 2018
    State Bank of India/SBI8.45% - 9.00%
    HDFC8.70% - 9.40%
    Bank of Baroda8.50% - 9.50%
    LIC Housing8.45% - 8.90%
    PNB Housing Finance8.99% - 10.75%
    ICICI Bank8.55% - 8.80%
    Axis Bank8.50% - 8.85%
    Citibank8.85% - 9.65%
    Indiabulls Housing Finance Limited8.70% - 9.85%
    Kotak Bank8.65% - 8.75%
    DHFL9.05% - 9.95%
    Reliance Home Finance8.75% - 10.00%
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