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

Introduction:

Are you seeking a premium SUV that seamlessly blends spaciousness, power, and luxurious features? Look no further than the 2023 Jeep Meridian Top Model – the flagship variant of Jeep’s Meridian series, launched in India in October 2023. Boasting a powerful 4×4 automatic transmission, a panoramic sunroof, and over 60 advanced safety and security features, this SUV delivers an exceptional driving experience. But with such impressive qualities, the question arises: how feasible is owning the 2023 Meridian Top Model?

Understanding Jeep Meridian Top Model EMI, Downpayment, and Interest Rates:

When purchasing a car, understanding the impact of EMI, downpayment, and interest rate is crucial. Here’s a breakdown:

• EMI: Your monthly loan instalment for repaying the loan amount.
• Downpayment: The initial upfront payment that reduces your loan amount.
• Interest Rate: The percentage charged on the loan amount, impacts your total repayment.

An online EMI calculator simplifies this process. Simply input the loan amount, loan tenure, and interest rate. You can also customize fees, and charges, and choose between EMI in advance or arrears.

Example:

Let’s assume you plan to purchase the 2023 Meridian Top Model with a loan amount of ₹40 lakhs over 5 years at 10% interest, with an upfront fee of ₹1 lakh. Your EMI would be ₹85,769, with a total interest payable of ₹11.46 lakhs and final payment (principal + interest + fees) of ₹52.46 lakhs.

Reducing EMI and Interest:

Increasing your downpayment lowers your EMI and interest burden. For instance, a ₹10 lakh downpayment reduces your loan amount to ₹30 lakhs, resulting in an EMI of ₹64,327, total interest of ₹8.59 lakhs, and a final payment of ₹39.59 lakhs.

Jeep Meridian Top Model Ex-Showroom vs. On-Road Price:

The ex-showroom price excludes taxes, fees, and charges, while the on-road price reflects the final cost you pay to drive the car home. This includes ex-showroom price, GST, registration charges, insurance, road tax, handling charges, etc.

Pricing Comparison:

The Meridian Top Model’s ex-showroom and on-road prices vary depending on your location. In Delhi, it costs ₹39.46 lakhs and ₹46.62 lakhs, respectively.

Jeep Meridian Top Model Price:

Conclusion:

With its potent engine, spacious interior, luxurious features, and impressive off-road capability, the 2023 Meridian Top Model offers exceptional value. However, ensuring its affordability requires careful consideration of your budget and a comparison of ex-showroom and on-road prices in your city.

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Also Read This: The 2023 Mahindra Marrazo Top Model: Cost Breakdown and Ownership Expenses