Drive New Generation Hyundai Verna Sedan at EMI of 12K, Bookings Go Past 10,000

Last Updated : Jan. 11, 2019, 5:39 p.m.

Finally, the new generation Hyundai Verna sedan model has made its way to the Indian roads after months of wait. The car is launched in four variants – E, EX, SX and SX(O) – and in seven colour options – Phantom Black, Fiery Red, Sleek Silver, Flame Orange, Stardust, Siena Brown and Polar White. The ex-showroom price of the variants (both petrol and diesel) ranges from ₹8-12.50 lakhs, fitting into the budget of those having a monthly earning of ₹45,000 and beyond. These set of people would need to pay an EMI of 12k-24k.

The buzz for the car was strong before the launch and the same can be felt from the levels of booking people have made for the new Verna models. Yes, 10,000 and counting… So, all set to apply for a loan to get this car in your parking lot? You should do it ASAP. However, it would be better to glance at the car loan scenario before applying. I hope, you would agree with me on the same. The article has thus the necessary information regarding a loan to buy the talk of the town i.e. New Verna. So, presenting the all-new Verna in this article.

Table Showing EMI and Price in India of New Hyundai Verna Models

Note – The computation of the loan amount is made at 85%-90% of the on-road price of the Verna models, while the EMI is based on an interest rate of 8.75%-12% per annum. The ex-showroom and on-road price of the Verna models are applicable to New Delhi. These prices can differ across the cities.

Factors That Will Decide the Loan Amount for New Verna

The lending institutions would examine a few things before deciding the loan eligibility of a borrower for New Hyundai Verna variants. These factors are as follows-

• Income
• Repayment Capability
• Car Model
• Workplace
• Credit History
• Any Loan EMI Running

Processing Fee & Other Charges

While applying for a car loan to buy your favourite Verna model, the lender will quote a processing fee of a certain amount. The fee can be 1%-2% of the loan amount applied for. A standard 18% GST will also apply on the same.

You also need to pay the down payment at 10%-15% of the on-road price before grabbing the car from the showroom. It can be a temptation on your part to pay off the entire loan before the expiry of the tenure. You can do the same, but the lender will charge 2%-5% of the outstanding balance along with applicable taxes to process your transaction. So, check out the interest saving and the charges in numbers and see how much you are able to save. That will tell you whether the prepayment, which is called as paying off the outstanding loan balance before the tenure, is a good option for you or not.

What’s Great in New Generation Hyundai Verna Variants?

The new Hyundai Verna Variants do pack a punch with an extensive line of star-studded features. Keen to know those features? Take a look at the pointers below.

• Halogen Headlamps
• Body Coloured Bumpers
• Integrated Signal Lights
• Steel Wheels
• Premium Dual Tone Interior with Fabric Upholstery
• Metal Finished Inside Door Handles
• 5-inch Touchscreen Audio System with Front and Rear Speakers
• Bluetooth Connectivity
• Steering Mounted Audio and Bluetooth Controls
• Reverse Parking Sensor
• 7-inch touchscreen infotainment system with Apple CarPlay
• MirrorLink
• Android Auto
• Electro Chromic Mirror
• Electric Sunroof
• Smart Trunk Function
• Engine Start-stop Button

Addresses of Hyundai Verna Showrooms Across Cities of India