auto news desk, Mahindra & Mahindra’s Scorpio SUV is sold a lot in the country and many people also want to buy this car. (Mahindra Scorpio) is a popular SUV car in the country. If you also want to buy new Mahindra Scorpio, then you earn a fixed salary every month, then it is very important for you to know whether you should buy this vehicle or not, or at least what should be your salary for this. So let’s know the details related to the price and EMI of this vehicle.
what is the price
Mahindra Scorpio is sold in the market in two models, which include Mahindra Scorpio N and Mahindra Scorpio Classic. The ex-showroom price of both these cars starts from Rs.13 lakhs. Whose on-road price in Delhi is around Rs 15.81 lakh. In which registration of 1.67 lakh, insurance of 88 thousand and other charges of 27 thousand are included. Now if you give a down payment of around 20% i.e. Rs 3 lakh to buy it. So after this you will have to take a loan for the remaining amount. Which if you take for 5 years, then you will have to pay 9% interest on it to the bank. According to this math, you will have to pay Rs 26,500 as EMI every month.
According to the rules of finance, the EMI of your vehicle should not be more than 10% of your monthly income. Accordingly, if your salary is 2.6 lakhs or above per month, then only you should buy this vehicle. So that you can pay EMI on time and you do not face any problem. But if you cannot pay this much EMI, then you will have to consider increasing the down payment amount.