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Mahindra vehicles have always been the first choice of people in India’s automobile market. Especially in this SUV segment, its cars are always on top. Mahindra’s car Mahindra Bolero Neo is specially liked. If you are thinking of buying the top variants of this vehicle and confused about the budget, then here we will tell you how you can buy it on every month’s EMI after making ₹ 2 lakh down payment.

Mahindra Bolero Neo Price

Ever since Mahindra introduced Bolero NEO in the SUV segment, its number of buyers keeps increasing. The ex-showroom price of its top variants is Rs 11.48 lakh. On buying it in a city like Delhi, RTO charge will have to be paid around Rs 1.43 lakh and insurance will have to be paid about 55 thousand rupees. Together, the on-road price of this vehicle reaches about 13.57 lakh rupees. That is, to get the car, you have to spend about Rs 13 lakh.

EMI after down payment of Rs 2 lakh

If you make a down payment of Rs 2 lakh to buy this car, then the remaining amount will be financed from the bank. In such a situation, you will have to take a car loan of about 11.57 lakh rupees. If the bank gives you a loan for seven years (84 months) at 9 per cent interest rate, then you will have to pay an EMI of about Rs 18,621 every month. This EMI will have to be paid for seven consecutive years.

Total cost of buying a car

Buying a car on a loan means that you will have to pay more than the real price of the car. If you fill EMI for seven years at 9 percent interest rate, then you will have to pay more interest in about 4.06 lakh rupees. In this way, the price of the car (on-road price + interest mixed) will reach about 17.64 lakh rupees. That is, while purchasing the car, it is necessary to keep in mind not only ex-showroom price, but also interest.

Strong features and design

Mahindra Bolero Neo is especially known for strong design and perfect SUV look. This car is the best option for those who travel long distances along with city driving. In this car you get comfortable seating positions, powerful engines and powerful road presence. This is the reason that this train remains the choice of everyone from villages and broken areas to urban customers.

Who will compete with

Mahindra Bolero Neo competes with many strong SUVs already existing in the Indian market. This includes vehicles like Maruti Grand Vitara, Hyundai Creta, Kia Seltos and Honda Elevate. In these trains you get modern features and attractive designs, but Mahindra Bolero Neo has a distinct identity among customers due to its strength and reliable performance.

After paying a down payment of Rs 2 lakh, you can bring it to your home by giving an EMI of about Rs 18,600 every month. Yes, keep in mind that the total cost with EMI will be higher than the on-road price, as interest will also be added to it. But this train can prove to be a strong option in this budget in the SUV segment.

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