Owning a car is a significant financial commitment. Let’s take a look at the costs associated with owning the new Hyundai Venue Base model in 2024.
The Hyundai Venue Base model 2024 has an ex-showroom price of ₹7.94 Lakh. However, the on-road price, which includes taxes and insurance, is typically higher.
Let’s break down the costs:
| Cost Type | Amount |
|---|---|
| Ex-Showroom Price | ₹7.94 Lakh |
| On-Road Price | ₹9.11 Lakh |
Assuming a loan term of 5 years at an interest rate of 10%, the monthly payment would be approximately ₹16,800. This translates to a yearly payment of ₹2,01,600.
Therefore, to comfortably afford the Hyundai Venue Base model, your monthly income should ideally be around ₹56,000 (considering that car expenses should not exceed 30% of your income). This equates to a yearly income of approximately ₹6.72 Lakh.
Please note that these are rough estimates and actual costs may vary based on factors such as location, loan terms, insurance rates, and individual financial circumstances.
In conclusion, owning a car is a big financial decision. It’s important to consider all costs, including the purchase price, loan payments, insurance, maintenance, and fuel. By understanding these costs, you can make an informed decision and enjoy the benefits of car ownership without financial stress.
Remember, a car is not just a mode of transportation, but also an investment. Choose wisely!
Also Read This: Check 7 Amazing Features of New Hyundai i10 Nios
