Tata Nexon: Tata Motors, one of India’s leading automakers, sells its powerful vehicles in many segments. In the Compact SUV segment, the company also offers a diesel variant of the Tata Nexon. If you are also planning to buy the diesel model of this SUV and want to bring it home by making a down payment of just ₹ 1 lakh, then how much EMI will you have to pay every month? In this news, we are going to give you detailed information about this, so that you can do your budgeting easily.
Tata Nexon Diesel Price
Tata Motors offers the base variant of Nexon diesel, Smart. The ex-showroom price of the base variant of this vehicle (Tata Nexon Diesel Smart Price) is ₹ 10 lakh. If this vehicle is bought in Delhi, then about ₹ 83 thousand will have to be paid for RTO and about ₹ 43 thousand for insurance. After this, the on-road price of Tata Nexon Diesel Smart becomes about ₹ 11.25 lakh. This price may vary slightly in different cities, so before buying, definitely find out the price of your city. You need to know this so that you can make your financial plan accurate.
How much will be the EMI after ₹ 1 lakh down payment
If you buy the diesel base variant Smart of this car, the bank will usually finance it at the ex-showroom price. In such a situation, after making a down payment of ₹ 1 lakh, you will have to finance about ₹ 10.25 lakh from the bank. If you get a loan of ₹ 10.25 lakh from a bank for seven years at an interest rate of 9 percent, then you will have to pay an EMI of ₹ 16,506 every month for the next seven years. To get a correct idea of how much this EMI will affect your budget, you have to take other expenses into account as well. The EMI is less on taking a long-term loan, but you may have to pay more money as interest.
How expensive will your Nexon diesel be in seven years
If you take a car loan of ₹ 10.25 lakh from a bank for seven years at an interest rate of 9 percent, then you will have to pay an EMI of ₹ 16,506 every month for seven years. In this case, in seven years you will pay around ₹ 3.60 lakh as interest for Tata Nexon diesel.
After this, the total price of your car will be around ₹ 14.86 lakh including ex-showroom, on-road, and interest. This is a big amount, so it is important to analyse your financial situation in depth before taking a loan. This amount of interest shows that you have to pay much more on a long-term loan than the actual price of the car.
Who does it compete with
Tata Motors offers Nexon as a sub-four meter SUV. This vehicle of the company competes directly with popular SUVs like Renault Kiger, Maruti Brezza, Mahindra XUV 3XO, Kia Sonet, Kia Syros, Hyundai Venue, Nissan Magnite in the market. All these vehicles have their own features and prices, so doing a comparative study of them before buying Nexon can prove beneficial for you. This comparison will help you understand if Nexon diesel is the best choice for you.
