Mahindra XEV 9e Price—The demand for electric vehicles is increasing rapidly in the Indian market. People are very fond of Mahindra’s premium electric SUV Mahindra XEV 9e. If you are planning to buy the base variant (Pack One) of this car in Delhi and want to make a down payment of Rs 6 lakh, then your monthly installment will be decided according to the interest rate and tenure of the bank loan.

Mahindra XEV 9e Price: How much EMI will have to be paid every month after down payment of Rs 6 lakh? Learn complete mathematics

What is the on-road price of Mahindra XEV 9e in Delhi?

The base variant ‘Pack One’ of Mahindra XEV 9e is priced at Rs 21,90,000, ex-showroom Delhi. Under the Delhi government’s EV policy, the RTO charge is only around Rs 4,200. After adding insurance of around Rs 98,000 and 1% TCS tax of Rs 21,900, its on-road price comes to around Rs 23.14 lakh (there may be slight differences depending on the local dealership offers and add-on covers).

Calculation of loan and EMI after 6 lakh down payment

If you make a down payment of Rs 6 lakh on an on-road price of Rs 23.14 lakh in Delhi, you will have to take a car loan of around Rs 17.14 lakh. Banks generally offer auto loans at starting interest rates of 8.5% to 9%:

• For a tenure of 5 years (60 months): If you take a loan of Rs 17.14 lakh for 5 years at 9% annual interest rate, your monthly installment (EMI) will be approximately Rs 35,580.
• For a tenure of 7 years (84 months): By taking a loan for 7 years at the same 9% interest rate, your monthly EMI will come down to around Rs 27,624.

Main features and range of the vehicle

The base variant of Mahindra XEV 9e has a battery pack of 59 kWh. It offers an ARAI-certified driving range of 542 kilometers on a single charge. It also has support for 180kW DC fast charging, which charges the vehicle from 20% to 80% in 20 minutes. Apart from this, modern safety features like triple screen setup and level-2 ADAS are present on the dashboard.

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Keep this in mind before buying

Before approving a car loan, banks look at your CIBIL score and monthly income. Your exact EMI may vary slightly depending on changes in interest rates or bank processing charges. Before visiting the showroom, please verify the loan offer from your nearest bank branch or Mahindra dealership.