If you are planning to buy the 2023 Maruti Suzuki Swift base model, you might be wondering how much EMI you will have to pay for the car loan. In this article, we will help you calculate the EMI, down payment, interest rate, ex-showroom price, and on-road price of the Swift base model in Delhi.
Swift Base Model Features
The 2023 Maruti Suzuki Swift is one of the most popular hatchbacks in India. It offers a stylish design, spacious cabin, peppy performance, and good fuel efficiency. The Swift base model comes with features like dual airbags, ABS with EBD, rear parking sensors, power windows, manual AC, tilt steering, and a 2-DIN audio system with Bluetooth connectivity.
2023 Maruti Suzuki Swift Base Model Price in India
The ex-showroom price of the Swift base model in Delhi is Rs. 5.99 lakh. However, the on-road price of the car will be higher as it includes additional charges like registration fee, road tax, insurance, and other accessories. According to CarDekho, the on-road price of the Swift base model in Delhi is Rs. 6.52 lakh.
New Swift Base Model EMI Plan
To buy the Swift base model in Delhi, you will need to pay a certain amount of down payment and take a car loan for the remaining amount. The down payment is usually 10% to 20% of the ex-showroom price of the car. The car loan amount is the difference between the on-road price and the down payment. The car loan will have an interest rate and a tenure that will determine your monthly EMI.
The interest rate and tenure of the car loan depend on various factors like your credit score, income, loan amount, and the lender’s policy. The interest rate can vary from 8% to 18% per annum. The tenure can range from 1 year to 7 years. The longer the tenure, the lower the EMI, but the higher the total interest payable.
You just need to enter the loan amount, interest rate, and tenure to get the EMI amount and other details.
For example, if you pay a down payment of Rs. 65,000 (10% of ex-showroom price) and take a car loan of Rs. 5.92 lakh (on-road price minus down payment) at an interest rate of 9.8% for a tenure of 5 years, your EMI will be Rs. 12,525 per month. The total interest payable will be Rs. 1.87 lakh and the total payment will be Rs. 9.97 lakh.
Here is a table that shows the EMI, down payment, interest rate, and tenure for different loan amounts for the Swift base model in Delhi:
|Loan Amount||Down Payment||Interest Rate||Tenure||EMI||Total Interest||Total Payment|
|Rs. 5.92 lakh||Rs. 65,000||9.8%||5 years||Rs. 12,525||Rs. 1.87 lakh||Rs. 9.97 lakh|
|Rs. 5.39 lakh||Rs. 1.04 lakh (15% of ex-showroom price)||8%||5 years||Rs. 10,917||Rs. 1.11 lakh||Rs. 8.95 lakh|
|Rs. 4.85 lakh||Rs. 1.44 lakh (20% of ex-showroom price)||10%||4 years||Rs. 12,293||Rs. 1.06 lakh||Rs. 8.51 lakh|
As you can see from the table, the EMI varies depending on the loan amount, down payment, interest rate, and tenure. You can choose the best option for you based on your budget and preference.
We hope this article has helped you understand how to calculate the EMI for the Swift base model in Delhi. If you have any questions or feedback, please let us know in the comments section below.