Hyundai Exter Automatic: The Hyundai Exter, which has made waves in the micro-SUV segment in India, has now become the preferred choice for those seeking a premium, automatic vehicle within their budget. Considering city traffic, people are increasingly opting for AMT variants over manual variants.
If you’re also dreaming of owning the S Automatic variant of the Hyundai Exter, but don’t want to spend a large sum of money at once, we have a great finance plan for you. With a down payment of just ₹2 lakh, you can bring home this SUV, with a monthly installment (EMI) that won’t be a burden on your pocket.
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EMI after a ₹2 lakh down payment
If you make a down payment of ₹2 lakh for the automatic variant of the Hyundai Exter, you’ll need to take out a bank loan for the remaining amount, i.e., ₹6.73 lakh. Let’s assume the bank offers you this loan for seven years (84 months) at an annual interest rate of 9%. In this case, you’ll only have to pay an EMI of ₹10,833 per month for the next seven years. This is an excellent option for families with a limited monthly income who want a safe and feature-rich SUV.
Interest and Total Cost
While purchasing a car on loan is convenient, it’s crucial to understand the interest charges. If you choose the plan described above (₹6.73 lakh loan, 9% interest, 7-year term), you’ll pay a total of ₹2.36 lakh in interest to the bank over the seven-year term. Thus, including the ex-showroom price, on-road taxes, insurance, and interest over seven years, the total cost of your Hyundai Xcent Automatic will reach approximately ₹11.09 lakh. A longer loan term reduces the EMI, but slightly increases the total amount to be repaid.
Tough Segment Competition
The Hyundai Exter competes directly with the Tata Punch, the king of the micro-SUV segment. While the Tata Punch is known for its robust safety features, the Exter is renowned for its smooth engine and high-tech features (such as six airbags as standard and a sunroof). In terms of pricing, it also faces stiff competition from the Nissan Magnite and Renault Kiger, both of which are slightly larger. Maruti Suzuki’s Fronx also targets customers in the same budget. However, Hyundai’s refined engine and excellent resale value make the Exter stand out from the crowd.