Mahindra Bolero is a popular 7-seater compact SUV, which is known for its strong performance and great features. The ex-showroom price of this vehicle starts from Rs 9.79 lakh and goes up to Rs 10.91 lakh. If you cannot pay the full price at once, it can be purchased with easy EMI options. For this, a loan can be taken from the bank, but your credit score should be better, because the bank gives loan approval on this basis.
Process to buy Mahindra Bolero on EMI
Mahindra Bolero is available in three variants. Let us know what kind of EMI you will have to pay if you want to buy its base model B4 diesel variant.
1. On-Road Price and Loan Amount
- On-road price in Delhi: ₹11.26 lakh.
- Loan Amount: ₹10.13 Lakh (Available from Bank).
- Down payment: ₹1.13 lakh (minimum).
- If you want, you can reduce the loan amount and EMI by making more down payment.
- Interest rate: 9% on average.
EMI options and loan tenure
Loan tenure: 4 years
- Monthly EMI: ₹25,206.
- If you keep the loan tenure shorter, you will have to pay less interest, but the monthly EMI will be higher.
Loan tenure: 5 years
- Monthly EMI: ₹21,000.
- This option makes monthly expenses a little easier.
Loan tenure: 6 years
- Monthly EMI: ₹18,258.
- If you keep the loan for a longer period, the monthly installment gets reduced, but the total interest has to be paid more.
Loan tenure: 7 years
- Monthly EMI: ₹16,300.
- Loans with the longest tenure will have the lowest monthly installments, but the total interest paid will be higher.
Tips to reduce EMI
- Make more down payment: Making more down payment will reduce the loan amount, which will reduce the EMI and total interest.
- Opt for prepayment: If you have extra money, repay part of the loan ahead of time. This will reduce both the loan tenure and interest.
- Choose a bank with low interest rates: Compare loan interest rates from different banks.
Why buy Mahindra Bolero?
- Best features at a low price: With prices starting at ₹9.79 lakh, this SUV is budget friendly.
- 7-Seater Space: Suitable for large families.
- Strong Design and Durability: Ideal for off-road driving.
