If you are willing to bring a new car home on this Diwali, but due to low budget you are not able to fulfill your hobby, then our today’s news is just for you.
We will tell you how you can buy the cheapest car in the country at the rate of Rs 154 per day. Let us tell you that along with buying a new car in a low-budget range, planning also matters a lot. Let us explain how the country’s cheapest and best-selling Maruti Suzuki Alto can be bought through better planning.
On-road price of the base variant of Maruti Suzuki Alto
The Delhi ex-showroom price of the base variant of Maruti Suzuki Alto is Rs 3,15,000. At the same time, Rs 15,750 for RTO and Rs 8,287 for insurance will also be added to the Delhi onroad price. That is, you will have to pay a total on-road price of Rs 3,49,383 for this car.
What will be the EMI after down payment
If you are willing to bring a new car home on this Diwali, but due to low budget you are not able to fulfill your hobby, then our today’s news is just for you. We will tell you how you can buy the cheapest car in the country at the rate of Rs 154 per day. Let us tell you that along with buying a new car in a low-budget range, planning also matters a lot. Let us explain how the country’s cheapest and best-selling Maruti Suzuki Alto can be bought through better planning.
How much EMI will have to be paid on 7 year loan
If budget is a big challenge for you, then you can get a loan on this car for 7 years. If you take a car loan through SBI, you will have to pay an interest of 7.70 to 13.25%. In such a situation, if you take a 7-year loan on Maruti Suzuki Alto at an interest rate of 7.70%, then you will have to pay a monthly EMI of Rs 4,622 every month.
What will be the total interest
On Rs 2,99,383 at an interest rate of 7.70%, the total interest for 7 years will be 88,834.
How much more will have to be paid on a 7 year loan
Now the question is, how much more you will have to pay for a 7 year loan on Maruti Suzuki Alto, then you can understand it like this,
• You bought the base variant of Alto for Rs 3,49,383 on Delhi on-road price.
• You made a down payment of Rs 50000.
• You took a 7 year loan for Rs 2,99,383.
• You took a loan at an interest rate of 7.70%.
• A total interest of Rs 88,834 came on the period of 7 years.
• That is, on Maruti Suzuki Alto you had to pay a total of Rs 88,834 + 2,99,383 + 50000 = 438,217.
How much will it cost per day
If you look at the monthly EMI of Rs 4,622 on a daily basis, then you will have to pay only Rs 154.06 per day. That is, you can buy Maruti Suzuki Alto at an easy installment of Rs 154.06 per day.
