The Tata Tiago has always been a reliable and budget-friendly option for hatchback buyers in India. If you’re looking to buy the base model and are considering a down payment of just ₹1 lakh, you’ll find complete finance details here. This information will help you decide if this car fits your budget.
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Tata Tiago Price and On-Road Cost
Tata Motors offers this car at an ex-showroom price of ₹4.57 lakh. Adding registration charges and insurance in Delhi, the on-road price reaches approximately ₹5.05 lakh. This amount includes the company’s ex-showroom price, plus an RTO fee of approximately ₹18,000 and insurance of approximately ₹29,000. This makes this car quite affordable at the entry level.
What will be the EMI with a down payment of ₹1 lakh?
If you make a down payment of ₹1 lakh, you’ll need to borrow approximately ₹4.05 lakh from a bank, as banks only offer loans based on the ex-showroom price. Suppose a bank lends you ₹4.05 lakh for seven years, or 84 months, at an interest rate of 9%, your monthly EMI payment will be approximately ₹6,522. This monthly EMI is quite convenient for consumers looking to purchase a car within a mid-range budget.
Total Expenses
Paying an EMI of ₹6,522 per month for the next seven years will result in a total interest amount of approximately ₹1.42 lakh. This brings the total cost of the car, including taxes, insurance, on-road price, and interest, to approximately ₹6.47 lakh. However, this allows you to purchase your first car with a comfortable monthly payment.
Tata Tiago market competition
In the hatchback segment, the Tata Tiago competes directly with cars like the Maruti Alto K10, Maruti Celerio, S-Presso, Wagon R, and Hyundai Grand i10 Nios. Despite the growing competition in the segment, the Tiago maintains its distinctive position due to its robust build quality, modern features, and value-for-money package.