Tata Tigor EMI CalculatorTata Motors’ Tata Tigor has a strong hold in the compact sedan segment of the Indian automobile market. Due to safe journey and budget friendly price, this car remains in demand among middle class families. If you are planning to buy the base variant (XE) of Tata Tigor at this time and you have a budget of Rs 1 lakh, you can bring it home on easy monthly installments. The complete mathematics of how much EMI you will have to pay every month after downpayment as per Delhi on-road price is explained in detail below.

Tata Tigor: Bring this Tata sedan home by paying a down payment of Rs 1 lakh, know how much will be the installment every month

What is the on-road price of Tata Tigor base variant in Delhi?

The on-road price of the vehicle is determined based on the local taxes of different states and cities. If we look at the figures of the country’s capital Delhi, the ex-showroom price of the base model (XE) of Tata Tigor is Rs 5.55 lakh. Along with this, the customer has to pay around Rs 22,000 for RTO charges and around Rs 33,000 for insurance. After adding all these mandatory charges, the on-road price of Tata Tigor base variant in Delhi comes to around Rs 6.10 lakh.

Complete mathematics of loan and EMI on down payment of Rs 1 lakh

If you make a downpayment of Rs 1,00,000 at the dealership, your total loan amount after deducting the downpayment amount from the on-road price (Rs 6.10 lakh) comes to Rs 5,10,000. The monthly installment is decided according to the tenure and interest rate of the loan received from the bank.

• Total Loan Amount: Rs 5,10,000
• Average interest rate: 9.5% (may vary depending on the bank and your CIBIL score)
• Loan Tenure: 5 Years (60 Months)
• Monthly EMI: Around Rs 10,723

According to this calculation, during the period of 5 years, you will have to pay approximately Rs 1,33,380 only as interest on the total loan amount. This means that in 5 years you will return a total of Rs 6,43,380 (principal + interest) to the bank.

Keep these things in mind before getting finance

“When taking a car loan, don’t just look at the EMI, but also compare the processing fee and pre-closure charges charged by the bank. Banks offer the lowest interest rates if the CIBIL score is above 750.”
—Auto Loan Consultant, New Delhi

Its impact on buyers and further options

It is often difficult for middle-class customers to raise a lump sum amount of more than Rs 6 lakh. In such a situation, an initial downpayment of Rs 1 lakh and monthly installment of around Rs 10,700 becomes a viable option. By increasing the loan tenure from 5 years to 7 years, the burden of monthly installment will be further reduced (about Rs 8,300 per month), although you will have to pay more total interest. Before visiting the showroom, do check the car loan offers from your nearest banks.