auto news desk, Honda Motors has launched the facelift version of its City and City Hybrid in the country this month. Some new features have been included in it along with some changes in the exterior look. Now this car comes with a sole 1.5-litre petrol engine, which generates power of 121 PS. Also, its e:HEV variant gets the same 1.5-litre petrol-hybrid engine as before. In such a situation, if you want to buy this car and for this you want to know the details of downpayment and EMI, then today we are going to tell you about it in detail.
What is calculation?
Let us assume that the car was purchased by making a down payment of 10%. Next, let us assume that you have chosen a 5 year EMI plan with an assumed bank interest rate of 10% on the balance amount of the car. You can choose this period or loan amount or EMI as per your convenience. Also, the rate of interest can also be different on the basis of different banks.
How much is the price?
The entry-level SV variant of the Honda City is available at a starting price of Rs 11.49 lakh, while the top-of-the-range ZX CVT model is priced at Rs 15.97 lakh, ex-showroom. Whose on-road price in Delhi is between Rs 13.25 lakh to Rs 18.31 lakh.
Have to pay this much price?
Let’s say you want to buy the top-end ZX CVT variant of the car, which costs Rs. 15.97 lakhs, ex-showroom. If you pay 10% amount of its on road price of Rs 18.31 Lakh i.e. Rs 1.83 Lakh, you will get a total loan of Rs 16.48, for which if you want to pay EMI for 5 years then you will pay EMI of Rs 35,022 every month Have to do That is, in this way you will have to spend a total of Rs 21.01 lakh for this car. On the other hand, if you choose the lower variant of this car and you make a downpayment of 1.30 lakh, then you will have to pay an EMI of Rs 25,398 per month.