- Maruti S Presso is the cheapest car in the country
- EMI will be only 5 thousand rupees
- Learn about down payments
Every middle class person wants to own a car. However, often the dream of buying a car is delayed due to low budget and high EMIs. In such a case, the question of which car is cheaper automatically comes to the mind of the customers. Keeping this in mind, today we will know about the cheapest car in the country and its EMI.
Maruti Suzuki It sells vehicles in various segments in the Indian market. This manufacturer offers Maruti S-Presso in the hatchback car segment. If you are planning to buy the ‘base variant’ of this car and want to bring the vehicle home with a ‘down payment’ of Rs 1 lakh, you may be wondering how much your EMI will be. Let’s find out about it.
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How much does Maruti S-Presso cost?
Maruti Company offers the ‘base variant’ i.e. ‘STD’ model of the S-Presso at an ‘ex-showroom’ price of Rs 3.50 lakh. If one buys this hatchback car in the capital city of Delhi, one will have to pay around Rs 16000 for RTO charges and around Rs 24000 for other charges. As a result, the ‘on-road’ price of the Maruti S-Presso STD will reach approximately Rs 3.94 lakh.
How much EMI to pay after 1 lakh down payment?
If you are buying the base variant of this hatchback car, the loan will be given by the bank on the on-road price. In such a situation, after making a down payment of Rs 1 lakh, a loan of around Rs 2.94 lakh will have to be taken. If a bank gives a loan of Rs 2.94 lakh for 7 years at 9% interest rate, you will have to pay an EMI of around Rs 4,738 per month. This EMI has to be paid for the next seven years.
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How expensive will the car cost?
If you take a car loan of Rs 2.94 lakh for 7 years at 9% interest rate, you will have to pay a total of Rs 1.04 lakh as interest over 7 years. After this, including ex-showroom price, on-road costs and interest, the total price of the Maruti S-Presso can go up to around Rs 4.97 lakh.
competitor
Maruti S-Presso is available in the hatchback car segment. In this segment, the car directly competes with cars like Maruti Alto K10, Renault Kwid and Hyundai Grand i10 Nios.
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