- Good demand for EVs in Indian auto market
- Good customer response to MG ZS EV
- What will be the EMI after a down payment of 3 lakhs?
There are many best auto companies in the Indian auto market, which offer the best cars. Currently, the demand for electric cars is increasing rapidly. Naturally, auto companies are also focusing on the production of electric cars.
In India MG Motors Electric cars are getting good demand. Along with MG Windsor EV and MG Comet EV, MG ZS EV is also receiving good response from customers. If you make a down payment of 3 lakhs to buy this car, how much EMI will be paid per month? Let’s know about it.
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How much does the MG ZS EV cost?
MG Motors offers the base variant of the ZS EV at an ex-showroom price of Rs 17.99 lakh. Its on-road price is approximately Rs 18.92 lakh. Apart from the ex-showroom price of Rs 17.99 lakh, you will have to pay approximately Rs 75000 for RTO and approximately Rs 18000 for insurance, bringing the on-road price to Rs 18.92 lakh.
What will be the EMI after a down payment of 3 lakhs?
If you are buying the base variant of this car, the loan will be sanctioned by the bank only on the ex-showroom price. In such a situation, after making a down payment of Rs 3 lakh, around Rs 15.92 lakh will have to be financed from the bank. Assuming a bank gives a loan of Rs 15.92 lakh for seven years at an interest rate of 9 percent, you will have to pay an EMI of Rs 25,617 per month for the next seven years.
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How expensive will the car be?
If you take a car loan of Rs 15.92 lakh for seven years at an interest rate of 9 percent, you will pay around Rs 5.59 lakh as interest only over seven years. That means, including the ex-showroom price, on-road costs and interest, the total cost of this car will be around Rs 24.51 lakh.
Who is the competition?
The MG ZS EV introduced by JSW MG Motor India is an electric SUV. Its direct competition in the Indian market is with electric SUV models like Tata Curvv EV, Mahindra BE 6 and Hyundai Creta Electric.
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