Honda Elevate will be yours in a minute with a down payment of just 1 Lakh, EMI will be ‘just that’

• Good demand for mid-size SUVs in the Indian auto market
• Honda Elevate is a powerful car in the same segment
• Know the easy finance plan of this car

When a man starts making money, he has some dreams. One of those dreams is to have your own car. Vehicles in the SUV segment have the highest demand in India. However, not everyone can pay the full amount while buying an SUV. In such a case, a proper finance plan is needed.

There are many popular SUV vehicles in India. One such popular car is Honda Elevate. If you make a down payment of 1 lakh for the base variant of this car, how much EMI will you have to pay per month? Today we will learn about it.

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How much does the Honda Elevate cost?

Honda offers the SV as the base variant of the Elevate SUV. The company offers the base variant of this mid-size SUV for sale at an ex-showroom price of Rs 11 lakh. While buying the car, you will have to pay registration tax and RTO charges along with the ex-showroom price of Rs 11 lakh. 1.19 lakh rupees for RTO, about 41 thousand rupees for insurance. Rs 10999 will also have to be paid as TCS fee. After that, the on-road price of this car will be Rs 12.77 lakh.

What will be the EMI after a down payment of one lakh?

If you are planning to buy the base variant of the Honda Elevate SUV, the bank will provide a loan equal to the ex-showroom price. In such a case, after making a down payment of Rs 1 lakh, you will have to take a bank loan of around Rs 11.77 lakh. If a bank approves you a loan of Rs 11.77 lakh for 7 years at an interest rate of 9 per cent, then for the next 7 years you will have to pay an EMI of only Rs 19,138 per month.

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How expensive will the car cost?

If you take a car loan of Rs 11.77 lakh for 7 years at an interest rate of 9 percent, you will have to pay an EMI of Rs 19138 per month for 7 years. During this period you will pay around Rs 4.30 lakh only in interest. So including ex-showroom price, on-road costs and interest, the total cost for the base variant of the Honda Elevate will come to around Rs 17.07 lakh.