Mahindra XUV 3XO Base Model EMI— Mahindra has a strong hold within the sub-compact SUV segment in the Indian automobile market. Mahindra XUV 3XO offered by the company remains popular among the customers due to its powerful features and muscular looks. If you are planning to buy MX1, the most affordable base variant of this budget-friendly compact SUV and have a budget of just Rs 1 lakh in your pocket, then you can bring it home under easy finance plans. As per the current tax structure of Delhi, the exact calculation of how much installment (EMI) you will have to pay every month for the next few years after making a down payment of ₹ 1,00,000 is explained below.

Mahindra

What is the on-road price of XUV 3XO MX1 in Delhi?

The starting ex-showroom price of the base petrol variant (MX1 Petrol Manual) of this Mahindra car is Rs 7,54,000. However, once you take the car on the road, there are several other government and mandatory charges added to it. In the country’s capital Delhi, RTO (Registration) charge of about Rs 52,780 and insurance premium of about Rs 40,504 has to be paid on this vehicle. Apart from this, including other small local charges of around Rs 500, the on-road price of Mahindra XUV 3XO MX1 comes to around Rs 8,47,284.

Complete loan calculations: EMI after ₹1 lakh downpayment

If you make a cash downpayment of Rs 1,00,000 at the dealership, then as per the on-road price, you will have to take a total vehicle loan of Rs 7,47,284 from the bank. Currently the average interest rate on car loan in banks is around 9.8% (annually). For your budget convenience, we have calculated it for 5 year and 7 year periods:

• For a tenure of 5 years (60 months): If you take a loan for 5 years, you will have to pay an EMI of approximately Rs 15,815 every month. During this period, you will pay a total of Rs 2,01,616 only as interest to the bank.
• For a tenure of 7 years (84 months): If you want to further reduce the monthly premium burden and choose a longer tenure of 7 years, your monthly premium will come down to around Rs 12,310 per month. However, due to longer tenure your total interest will increase to around Rs 2,86,756.

“The final vehicle loan interest rates and processing fees depend on the customer’s CIBIL score, banking history and the prevailing policies of the respective bank. Slight variations are possible after visiting the dealership.”
— Senior Sales Consultant, Mahindra Dealership, Delhi

What will be its impact on middle class buyers?

A monthly installment of Rs 12,000 to Rs 15,000 is considered a very practical budget for employed and middle-class families of Delhi-NCR. Even in this base variant, the company does not compromise on the safety of the customers and it comes with essential features like 6 airbags, Electronic Stability Control (ESC), and rear AC vents as standard. In such a situation, for those who want to upgrade from hatchback cars to SUV segment, this option with a down payment of Rs 1 lakh is proving to be quite easy and economical.