Tata Motors most economical car! Down payment of just 1 lakh and EMI less than ten thousand

• Tata Tigor is a popular car
• What will be the EMI after a down payment of 1 lakh?
• Know complete information

Tata Motors It is a leading auto company in the Indian automobile industry. Tata has always offered powerful and high performing cars in the market. The company always keeps the budget of the customers in mind while manufacturing the car. Therefore, along with premium cars, budget friendly cars are also seen in the market. One such economical car is the Tata Tigor.

Tata has offered the Tata Tigor in the compact sedan segment. If you are planning to buy the base variant of this sedan then this news is for you. Let’s find out, how much EMI will you have to pay per month after a down payment of 1 lakh?

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How much does Tata Tigor cost?

Tata Motors offers the Tigor in the compact sedan segment. The ex-showroom price of this car is Rs 5.49 lakh. If this car is purchased, you will have to pay approximately Rs.29000 for RTO and approximately Rs.30000 for insurance. This brings the on-road price of the Tata Tigor to approximately Rs 6.08 lakh.

How much EMI will be required after 1 Lakh Down Payment?

If you are buying the base variant of this car, the bank will give you a loan only on the ex-showroom price. In such a case, after making a down payment of Rs 1 lakh, you will have to take a loan of around Rs 5.08 lakh from the bank. If a bank approves a loan of Rs 5.08 lakh for 7 years at an interest rate of 9 percent, you will have to pay an EMI of around Rs 8173 per month for the next 7 years.

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How expensive will the car cost?

If you take a car loan of Rs 5.08 lakh for a period of 7 years at an interest rate of 9 percent, you will have to pay an EMI of Rs 8173 per month in 7 years. Thus in 7 years the base variant of Tata Tigor will have to pay around Rs 1.78 lakh as interest only. So the total cost of this car including ex-showroom, on-road costs and interest will be around Rs 7.86 lakh.