Forget Nexon, Stylish & Spacious SUV -Cost of Owning the 2023 Nissan Magnite Top Model

The Nissan Magnite Top Model has captured attention as a stylish and spacious compact SUV offering excellent value for money. With a starting price of Rs. 5.99 lakh (ex-showroom Delhi), it packs a punch in affordability. But how much does owning the Nissan Magnite Top Model truly cost? Let’s delve into the details.

Nissan Magnite Top Model: Turbo CVT XV Premium Opt DT

Nissan Magnite Top Model
Nissan Magnite Top Model

With a price tag of Rs. 11.02 lakh (ex-showroom Delhi), the Turbo CVT XV Premium Opt DT emerges as the most expensive Magnite variant. This translates to an on-road price of approximately Rs. 13.04 lakh in Delhi, considering registration, insurance, road tax, and other charges.

Down Payment and Loan Options

To own this beauty, you’ll need a down payment of at least 10% of the on-road price, which is roughly Rs. 1.30 lakh. The remaining amount can be financed through a car loan at an interest rate and tenure dependent on your credit score, income, loan amount, and the lender’s terms.

Calculating the EMI (Equated Monthly Installment)

Nissan Magnite Top Model
Nissan Magnite Top Model

For illustrative purposes, let’s assume a loan with an interest rate of 10.5% and a tenure of 60 months (5 years). This translates to a monthly EMI of Rs. 23,318, leading to a total interest payment of Rs. 2.70 lakh over the loan period.

Cost Breakdown:

Cost ItemAmount (in Rs.)
Ex-showroom Price11,02,000
On-road Price13,04,000
Down Payment1,30,400
Loan Amount11,73,600
Interest Rate10.5%
Tenure60 months
Total Interest2,69,480
Total Cost15,73,480

Alternatives to Reduce Cost

Nissan Magnite Top Model
Nissan Magnite Top Model

While owning the top-spec Magnite isn’t budget-friendly, consider these options:

  • Opt for a lower variant: Explore lower-priced variants with fewer features like a manual transmission instead of the CVT.
  • Compare loan offers: Research loan options from various banks and financial institutions to secure the best interest rate and terms.
  • Negotiate with the dealer: Don’t be afraid to negotiate the price with the dealer for a better deal.

Beyond the Price Tag:

Remember, the cost of ownership goes beyond the purchase price. Consider additional expenses like:

  • Maintenance costs: Regular maintenance and servicing will incur charges.
  • Fuel costs: Fuel efficiency varies based on driving conditions, but factor in fuel expenditures.
  • Resale value: Research the resale value of the Magnite to estimate long-term investment potential.
  • Warranty coverage: Understand the warranty terms and coverage offered by Nissan.

News Summary

This article provides a comprehensive overview of the costs associated with owning the Nissan Magnite top model in Delhi. By carefully assessing your budget, exploring alternative options, and considering additional expenses, you can make an informed decision about whether the Magnite fits your needs and financial situation.

Also Read This: Unveiling the 2023 Jeep Meridian Top Model: Exploring EMI Cost and Affordability

1 thought on “Forget Nexon, Stylish & Spacious SUV -Cost of Owning the 2023 Nissan Magnite Top Model”

  1. Pingback: 2024 Kia Sonet CNG: Eco-Friendly Choice in the Compact SUV Segment - Stunning Mileage

Comments are closed.

WhatsApp Group Join Now
Telegram Group Join Now
Instagram Group Join Now
Scroll to Top