If you are planning to buy a new Swift Base model car in Delhi, you might be wondering how much salary or income you need to afford it. In this article, we will try to answer this question by looking at the ex-showroom price, on-road price, EMI, and monthly and yearly expenses of owning a new Swift Base model car in Delhi.
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Swift Base model (LXI variant) Price in India
The ex-showroom price of the new Swift Base model (LXI variant) in Delhi is Rs. 5,99,450 as of September 2023. This means that this is the price that the dealer charges for the car before adding any taxes, registration fees, insurance, or other charges. The on-road price of the new Swift Base model in Delhi is Rs. 6,66,316, which includes all the additional costs that you have to pay to get the car registered and insured in your name.
Swift Base model EMI
The on-road price is the amount that you have to pay upfront or finance through a loan to buy the car. However, this is not the only expense that you have to consider when owning a car. You also have to factor in the running costs such as fuel, maintenance, servicing, repairs, etc. the average mileage of the new Swift Base model is 22.38 kmpl, which means that it consumes 1 litre of petrol for every 22.38 km driven. Assuming that the current petrol price in Delhi is Rs. 101.19 per litre, the fuel cost per km for the new Swift Base model is Rs. 4.52.
To calculate the monthly and yearly salary or income required to own a new Swift Base model in Delhi, we will make some assumptions based on average values. We will assume that:
- You drive 1000 km per month, which is about 33 km per day.
- You spend Rs. 2000 per month on maintenance and servicing.
- You pay an interest rate of 10% per annum on a car loan for 5 years.
- You pay a down payment of 20% of the on-road price of the car.
- You pay an income tax rate of 20% on your salary or income.
Based on these assumptions, we can create a table that shows the monthly and yearly expenses of owning a new Swift Base model in Delhi, as well as the minimum monthly and yearly salary or income required to afford it.
| Expense | Monthly | Yearly |
|---|---|---|
| Fuel | Rs. 4,520 | Rs. 54,240 |
| Maintenance | Rs. 2,000 | Rs. 24,000 |
| Loan EMI | Rs. 9,005 | Rs. 1,08,060 |
| Total Expense | Rs. 15,525 | Rs. 1,86,300 |
| Minimum Salary/Income (before tax) | Rs. 19,406 | Rs. 2,32,875 |
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As you can see from the table, you need to earn at least Rs. 19,406 per month or Rs. 2,32,875 per year (before tax) to own a new Swift Base model car in Delhi comfortably. Of course, these are only approximate values and your actual expenses and income may vary depending on your driving habits, lifestyle choices, loan terms, tax bracket, etc.
We hope that this article has given you some useful information and guidance on how much salary or income you need to own a new Swift Base model car in Delhi.
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