auto news desk, Tata Nexon is the best selling SUV in the country. Its price starts from 7.80 lakhs onwards. This is the ex-showroom price of its base variant. Its on-road price is around Rs 8.75 lakh (Delhi). That is, if you buy the base variant of the Tata Nexon SUV, then you will have to pay a total of Rs 8.75 lakh. Now it is natural that every person does not have such a huge amount, that is why most of the people take loan to buy a car. So let us share with you a rough calculation related to its loan.
The base variant of Nexon costs Rs 7.80 lakh ex-showroom. Generally, the car loan that is available is available at the ex-showroom price only. Loan up to 80% of the ex-showroom price is easily available, depending on the profile of the borrower it can go up to 100%. But, assuming that a loan equal to 80 per cent of the ex-showroom price is available, it will be around Rs 6.24 lakh.
That is, you will have to pay the remaining amount yourself to the dealership, which will go as down payment. This amount should be around Rs 2.51 lakh. Now, according to Axis Bank’s car loan calculator, if a loan of Rs 6.24 lakh is taken for 7 years at 8 percent interest rate, then an EMI of Rs 9,726 will be made. On this, the customer will pay a total interest of Rs 1,92,967 (during 7 years). The amount that will reach the bank will be Rs 8,16,967.