If you want a sleek, spacious sedan with a powerful engine and quality equipment, consider the 2023 Honda City 5th Gen. New design and increased performance are the hallmarks of the current Honda City in India. How much does this car cost to buy and own? We will cover the EMI, down payment, interest rate, ex-showroom price, and on-road price of the Honda City 5th Gen EMI Pan in Delhi in this blog post.
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Engine & Features
The 2023 Honda City 5th Gen top model is the ZX CVT, with a 1.5-litre petrol engine that produces 121 PS and 145 Nm. A 7-speed CVT automatic gearbox, paddle shifters, LED headlights and taillights, sunroof, leather seats, 8-inch touchscreen infotainment system, six airbags, ABS with EBD, hill start assist, vehicle stability aid, and more are included. This model costs Rs. 14.49 lakh ex-showroom in Delhi.
Price in India
The ex-showroom price is not the final car price. The on-road price, which you pay to take the car home, is higher than the ex-showroom price due to additional fees and taxes. Registration, road tax, insurance, handling, and other fees make up the on-road pricing. Delhi’s 2023 Honda City 5th Gen ZX CVT costs Rs. 16.53 lakh on-road.
Honda City 5th Gen EMI, Loand & Downpayment
After learning the car’s on-road pricing, you may be asking how to finance it. You must get a car loan from a bank or financial organisation unless you have enough money saved or earned to pay in full. The car loan amount is normally 90% of the ex-showroom price, thus you must pay 10% down. In Delhi, the 2023 Honda City 5th Gen ZX CVT down payment is Rs. 1.45 lakh.
This model requires a Rs. 13.04 lakh auto loan with monthly EMIs. The loan term and interest rate determine the EMI. Annual interest is the percentage the bank charges on the loan amount. Loan tenure is the number of months or years you repay it. Longer terms cut EMIs but increase interest.
Car loan interest rates in India average 9.8%, however they vary by credit score, income, and other criteria. Car loans typically last 60 months or five years, but you can choose a shorter or longer term based on your needs and budget. The table below shows how much EMI you’ll pay for the 2023 Honda City 5th Gen ZX CVT model in Delhi at different interest rates and tenures.
|Interest Rate||Tenure (Months)||EMI Amount|
The table shows that EMIs rise with interest rates and fall with tenures. An online EMI calculator can calculate your EMI depending on loan amount, interest rate, and tenure.
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This blog post should help you comprehend the 2023 Honda City 5th Gen top model’s EMI, down payment, interest rate, ex-showroom price, and on-road price in Delhi. Visit your nearest authorised Honda dealer or book a test drive online to buy this Honda City or any other variant. Happy motoring!