The Hyundai Creta has always been the flagship choice in the Indian SUV market, and its recent foray into the electric vehicle market has created buzz. If you are considering a shift to an electric vehicle and are considering the base variant of the Creta EV called “Executive,” this guide will be helpful in breaking down the economics of buying it, especially with respect to your monthly EMIs.
Prices and On Road Pricing
The base variant Executive pricing for the all-new Creta EV has begun at Rs 17.99 lakh, and the on road price would definitely vary with all the different markets where KIA sells vehicles. Delhi shall be Rs75, 000 and that of TCS is Rs17, 990. These costs, when added to the ex-showroom price, bring the on-road cost of the Creta EV Executive in Delhi to roughly Rs 18,92,214.
Calculating Your EMIs
Most banks consider the ex-showroom prices for loans calculations. So assuming a down payment of Rs 3 lakh, you will need to finance around Rs 15.92 lakh. Considering a seven year loan tenure and an interest rate of 9%, your monthly EMI would work out to be around Rs 25,617.
Understanding Total Cost of Ownership
Over the seven-year loan tenure, you would be paying approximately Rs 5.59 lakh in interest. This means that the total cost of your vehicle, including the ex-showroom price, on-road expenses, and accumulated interest, would amount to roughly Rs 24.51 lakh.
Making an Informed Decision
Owning an electric vehicle indeed calls for a significant investment. This guide will make sure that you understand all the financial commitments involved in buying the Hyundai Creta EV Executive. So, with proper planning for your budget and goals, you can create a wise decision for your electric mobility journey.
Disclaimer: This article provides general information and should not be considered financial advice. It’s recommended to consult with a financial advisor or your bank for personalized guidance based on your specific circumstances.
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