Tata Nexon: There is no doubt that the name of the Tata Motors company first comes to mind as soon as the name of the SUV comes. Tata Motors is the best selling SUV in the country. Tata Nexon is unique in this regard. An example of this is the best features and low price.
Tata Motors is the third largest car manufacturer in the country. Maruti Suzuki is at the first position while Hyundai is at the second position. But Tata Motors is on top in the SUV segment. Tata Nexon from Tata Motors is the best selling car in this segment. Not only is the Tata Nexon SUV available in both petrol and diesel options, but it is priced under Rs 10 lakh. If you are also trying to buy Tata Nexon.. then we will try to explain you how EMI calculator works.
The price of Tata Nexon ranges from 7.80 Lakh to 14.50 Lakh. This is ex-showroom Delhi price. This car is available in 8 variants. Maximum 5 people can travel in this. Loan facility is also available if your budget does not support it. The on-road price of the base variant of the Tata Nexon is Rs 8.85 lakh. You can become the owner of this car by paying 90 thousand with 10% down payment. Now let’s look at the details of how much EMI will be charged on the remaining amount and how much interest will have to be paid.
Every bank in the market has different interest and time frame. If you make 1000% down payment and take it for a tenure of 5 years at 9.8% interest, you will have to pay an EMI of Rs 16,845 every month. That is, the total debt is Rs 9,09,374. In this, you will have to pay only Rs 1,01,082 as interest for 5 years. Means Rs 10,10,456 in five years.
But here the interest rate on bank loan may vary depending on the loan taken by you, tenure limit and the bank. Therefore, before taking a car loan, you should consult different banks and see how much the bank is offering. The EMI details given here are just an example. May vary from bank to bank. Because every bank has different interest on car loan. And why delay, pay 90 thousand and take home your favorite Tata Nexon ,