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Car Finance Plan: If you're considering buying the CNG variant of the Maruti Grand Vitara and make a down payment of ₹3 lakh, what will be your monthly EMI? Let's find out the full details.

 

This car comes with great features

 

In India, Maruti Suzuki sells the Grand Vitara in the mid-size SUV segment. If you're considering purchasing its CNG variant, it's important to first understand its price and EMI calculations. Let's find out how much your monthly installment will be after a down payment of ₹3 lakh and how much the total cost will be.

What is the price of the Maruti Grand Vitara CNG?

The CNG variant of the Maruti Grand Vitara comes under the Delta name. The company has kept its ex-showroom price at Rs 12.99 lakh. If you buy it in Delhi, apart from the ex-showroom price, you will also have to pay registration, insurance, and other charges. In Delhi, this SUV attracts a registration tax of around Rs 1.30 lakh. Around Rs 60,000 has to be paid for insurance. Apart from this, a TCS charge of Rs 13,000 has to be paid. After adding all these expenses, the on-road price of this car becomes around Rs 15.03 lakh. This means that its price as soon as it leaves the showroom is a little more than Rs 15 lakh.

What will be the EMI after a down payment of Rs 3 lakh?

If you pay a down payment of ₹3 lakh to purchase this vehicle, you'll need to borrow the remaining amount from a bank. Banks typically offer loans based on the ex-showroom price. So, after paying ₹3 lakh out of the ₹12.99 lakh, you'll need to borrow approximately ₹12.03 lakh. If the bank offers you a loan of ₹12.03 lakh for 7 years at an annual interest rate of 9%, your monthly EMI will be approximately ₹19,359. You'll have to pay this installment for the entire 7 years.

How much will the car cost overall?

If you pay an EMI of ₹19,359 for 7 years, you'll end up paying approximately ₹4.22 lakh in interest alone. This brings the total cost of this SUV to approximately ₹19.26 lakh, including the ex-showroom price, on-road expenses, and interest. This means the car costs approximately ₹4 lakh more if purchased on loan.

Which vehicles are you competing with?

The Maruti Grand Vitara falls in the mid-size SUV segment, competing with popular SUVs like the Tata Harrier, Toyota Urban Cruiser Hyryder, Hyundai Creta, Kia Seltos, MG Hector, and Honda Elevate.