Maruti Suzuki’s Brezza continues to maintain a strong hold in the compact SUV segment of the Indian automobile market. Maruti Brezza LXI CNG model is in high demand among the customers who want lower running cost and better mileage along with petrol. Coming to Delhi at a starting ex-showroom price of ₹ 9.40 lakh, this SUV costs around ₹ 10.58 lakh on-road. If you want to bring this car home with a down payment of ₹ 2 lakh, then understand the complete mathematics of bank loan and monthly EMI here in simple language.
Maruti Brezza CNG EMI Calculator: How much will be the monthly installment on ₹2 lakh down payment? Learn complete mathematics
Breakup of On-Road Price in Delhi
There are mainly three factors involved in determining the on-road price of Maruti Suzuki Brezza’s base CNG model LXI CNG in Delhi. On top of the ex-showroom price of ₹9.40 lakh, the customer has to pay registration tax (RTO) of around ₹70,000 and vehicle insurance of around ₹47,000. After adding all these necessary charges, the total on-road price of this SUV in Delhi reaches around ₹ 10.58 lakh.
₹2 lakh down payment: How much loan and how much EMI will be made?
If you make a down payment of ₹2,00,000 from your own pocket to buy Maruti Brezza LXI CNG, the remaining amount will have to be financed from the bank. After deducting the down payment from the total on-road price, you will have to take a car loan of ₹8.58 lakh.
If the bank sanctions you a loan of ₹8.58 lakh for a tenure of 7 years (84 months) at an annual interest rate of 9 percent, your mathematical calculations will be as follows:
- Total Car Loan Amount: ₹8,58,000
- Interest Rate: 9% p.a.
- Loan tenure: 7 years
- Monthly Installment (EMI): ₹13,478 per month
How much total interest will have to be paid in 7 years?
If you pay monthly installments of ₹ 13,478 continuously for 7 years at the rate of 9 percent, then in this entire time frame you will pay around ₹ 2.74 lakh to the bank only as interest. Thus, including ex-showroom price, on-road charges and bank interest, the total cost of this SUV will be around ₹ 13.32 lakh.
There is direct competition with these vehicles
In the sub-four-meter compact SUV segment, Maruti Brezza CNG competes with many popular vehicles in the market. This car mainly gives direct challenge to vehicles like Hyundai Venue, Tata Nexon, Kia Sonet, Mahindra XUV 3XO, Kia Syros and Citroen Basalt. Due to fuel economy and Maruti’s wide service network, this model remains the first choice of buyers in the CNG segment.