Skoda Kylaq Classic EMI — Skoda Auto India’s compact SUV Skoda Kylaq is in the news in the Indian automobile market due to its premium features and attractive starting price. If you are planning to buy the base variant Classic in manual version of this SUV and want to make a down payment of Rs 1 lakh, then it is very important to understand the complete mathematics of how much your bank installment (EMI) will be every month after on-road charges.

Skoda Kylaq Classic EMI: How much will be the installment every month after down payment of Rs 1 lakh?

What is the on-road price in Delhi?

The ex-showroom price of the base variant Classic of Skoda Kylax in Delhi is Rs 7,59,000. To bring the vehicle on-road, customers have to pay registration charges (RTO) and insurance separately.

• Ex-showroom price: ₹7,59,000
• RTO/Registration Tax: ₹53,130 (approx)
• Car Insurance: ₹34,500 (approx)
• Total On-Road Price (Delhi): ₹8,46,630

EMI calculation after Rs 1 lakh down payment

If you deposit a down payment of Rs 1,00,000 to buy this SUV in Delhi, then you will have to take a car loan against the remaining amount:

• Loan Amount: ₹7,46,630
• Loan Tenure: 5 years (60 months)
• Average Interest Rate: 9% per annum
• Monthly EMI: ₹15,498 (approx)

If the bank offers you a car loan at a rate of 9.8% or 10.5%, your monthly installment can come between Rs 15,700 to Rs 16,000 per month.

Opinion of financial experts

“While financing any new vehicle, keep your monthly income in mind. Your total loan EMI should not exceed 20 to 25 percent of your in-hand salary. If possible, increase the down payment a little and keep the loan tenure to 5 years only so that the interest burden is less.”
— Senior Auto Finance Analyst

What are the options for common buyers?

This Skoda SUV has a 999 cc turbo petrol engine, which gives excellent performance. If you make a down payment of more than Rs 1 lakh (say Rs 1.5 lakh or Rs 2 lakh), your monthly installment will come down to the range of Rs 13,000 to Rs 14,000. Slight variation in interest rates is possible depending on the processing fees charged by banks and CIBIL score.