Brilliant in design and budget-friendly! Tata Curvv to pay ‘so much’ down payment; See full calculation of monthly installments
- Tata Motors has launched its first coupe-style SUV Tata Curvv
- A strong contender in the mid-size SUV segment
- How much EMI to pay per month?
Planning to buy a Tata Curvv : The Indian mid-size SUV market is witnessing a huge boom right now. In this event, Tata Motors has launched its first coupe-style SUV ‘Tata Curvv’ and has caught everyone’s attention. If you are planning to bring home this stylish car, then it is very important to understand the maths of how much monthly installment or EMI you will have to pay for it.
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A strong contender in the mid-size SUV segment
The Tata Curve competes against the already popular Hyundai Creta, Kia Seltos and Maruti Suzuki Grand Vitara in the Indian market. However, what sets the Curvv apart is its ‘coupe’ style roofline and sporty design, which sets it apart from other cars in the segment. The company had high expectations for this model, but currently the sales pace is a bit slower than expected. It is said that due to heavy competition and some doubt in the mind of the customers about the service quality.
Price and Variants
The ex-showroom price of the Tata Curvv is around ₹9.65 lakh to ₹18.85 lakh. Let us understand the EMI maths based on the top variant (Accomplished +A DCA 1.5) of this car, which costs around ₹18.85 lakh.
How much EMI to pay per month?
If a customer takes a full amount loan for this top variant and the interest rate is 9.5%, the EMI can be as follows depending on the loan tenure: 24 months i.e. 2 years: If you take the loan for 2 years, the EMI will be around ₹86,539 per month. During this period you will have to pay a total of ₹1.92 lakh only in interest.
36 Months i.e. 3 Years: If 3 years is selected, the premium will reduce to ₹60,375. However, this will increase the total amount of interest to ₹2.88 lakh.
48 months i.e. 4 years: On a 4-year loan, the EMI will further reduce to ₹47,352, but the total interest burden will reach ₹3.88 lakh.
Keep these things in mind while deciding the EMI
The car loan EMI mainly depends on the interest rate, down payment, loan amount and tenure. The higher the down payment you make, the lower the loan burden and EMI. So it is always beneficial to choose the right loan period considering your income and budget before buying a car. So the car is also yours and you can do your own math of convenience with the required loan math.
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