If you’re eyeing the new 2024 Tata Tigor Base model, it’s essential to understand the financial aspects before driving off into the sunset. Let’s break down the numbers and create a clear picture of what it takes to own this stylish sub-compact sedan.
1. Ex-showroom Price:
The ex-showroom price in New Delhi for the Tata Tigor Base model ranges from ₹6.30 lakh to ₹9.55 lakh. This is the cost of the car without additional charges like taxes and registration fees.
2. On-Road Price in 2024:
The on-road price includes the ex-showroom price along with other expenses such as RTO charges and insurance. In New Delhi, the on-road price starts at approximately ₹7.07 lakh and goes up to ₹9.62 lakh for the top-tier variant.
3. Minimum Downpayment:
To drive your brand-new Tigor home, you’ll need to make a downpayment. Let’s assume you choose the base model priced at ₹6.30 lakh. A typical downpayment is around 20% of the car’s value. So, your minimum downpayment would be approximately ₹1.26 lakh.
4. Monthly EMI:
The remaining amount after the downpayment can be financed through a car loan. For a loan amount of ₹5.04 lakh (₹6.30 lakh minus the downpayment), the monthly EMI for a 5-year tenure at an interest rate of 9.8% would be approximately ₹13,513.
5. Yearly EMI:
Multiply the monthly EMI by 12 to get the yearly EMI. In this case, it’s around ₹1,62,156.
6. Estimated Monthly and Yearly Salary / Income:
To comfortably afford the Tigor, consider your monthly and yearly income. Let’s assume you allocate 30% of your monthly salary towards the car EMI. If your monthly salary is ₹45,000, your estimated monthly EMI fits well within this budget.
For yearly calculations, your estimated yearly salary should be at least ₹5,44,000 (12 times the monthly salary). This ensures that your car expenses don’t strain your overall financial health.
Summary:
| Aspect | Amount (₹) |
|---|---|
| Ex-showroom Price | 6,30,000 |
| On-Road Price (approx.) | 7,07,000 |
| Minimum Downpayment | 1,26,000 |
| Monthly EMI | 13,513 |
| Yearly EMI | 1,62,156 |
| Estimated Yearly Salary | 5,44,000 |
Remember, these figures are approximate and can vary based on loan terms, interest rates, and individual circumstances. Always consult with a financial advisor before making any major purchase. Happy driving! 🚗💨
Also Read This: Monthly Salary to Own New Mahindra Bolero Classic: A Brief Overview
