3 lakhs down payment and India’s most popular EV parked at your doorstep, ‘that’ will be the whole calculation

• Good demand for electric cars in India
• MG Windsor Pro EV is a popular electric car in the country
• What will be the EMI after a down payment of 3 lakhs?

Many people in the Indian auto market are now responding better to electric vehicles than petrol powered vehicles. Considering the same demand of the customers, many foreign auto companies are also offering powerful electric cars in India. One such foreign company is MG Motors.

British auto company MG Motors offers cars in several segments in the Indian market. MG Windsor Pro EV offered by the company is available for sale. If you are planning to buy this car, let’s know the monthly EMI after a down payment of 3 lakhs.

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How much does MG Windsor Pro EV cost?

MG Motors offers the base variant of the Windsor Pro EV at an ex-showroom price of Rs 17.24 lakh. If you buy this car, its on-road price is approximately Rs 18.15 lakh. This price includes insurance of approximately Rs 72000 and TCS charges of approximately Rs 17000, bringing the on-road price to Rs 18.15 lakh.

How much will be the EMI after the down payment of 3 lakhs?

If you are buying the Pro variant of this car, the loan will be provided by the bank only on the ex-showroom price. In such a situation, after paying the down payment of Rs 3 lakh, the remaining Rs 15.15 lakh will have to be taken as a loan from the bank. If a bank gives you a loan of Rs 15.15 lakh for 7 years at an interest rate of 9 percent, then the EMI of only Rs 24369 per month for the next 7 years will have to be paid.

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How expensive will the car cost?

If you take a car loan of Rs 15.15 lakh for 7 years at an interest rate of 9 percent, you will have to pay an EMI of Rs 24369 per month. Thus in 7 years you will pay around Rs 5.32 lakh in interest for MG Windsor Pro EV. After this, the total cost of this car after including the ex-showroom price, on-road costs and interest amount will be approximately Rs 23.46 lakh.