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7 Seater Ertiga

Your Monthly and Yearly Salary / Income to own New 7 Seater Ertiga

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If you are planning to buy a Maruti Suzuki Ertiga, the popular MUV from the Indian carmaker, you might be wondering how much salary or income you need to afford it. In this article, we will help you answer this question by providing some estimates based on the ex-showroom price, on road price, loan amount, interest rate, tenure, and EMI of the 7 Seater Ertiga base model in Delhi.

How Much Do You Need to Own New 7 Seater Ertiga

7 Seater Ertiga
7 Seater Ertiga

The ex-showroom price of the 7 Seater Ertiga Lxi (O) (Petrol) (Base Model) in Delhi is Rs. 8.64 Lakh as of September 2023. The on road price, which includes RTO, insurance, and other charges, is Rs. 9.74 Lakh. Assuming that you pay a down payment of 20% of the ex-showroom price, which is Rs. 1.73 Lakh, the loan amount will be Rs. 6.91 Lakh.

Now, let us assume that you take a loan from a bank or a financial institution at an interest rate of 10% per annum for a tenure of 5 years (60 months). Using an online EMI calculator, we can find out that the monthly EMI for this loan will be Rs. 14,697. The total interest payable over the loan period will be Rs. 1.92 Lakh, and the total amount payable will be Rs. 8.83 Lakh.

To pay this EMI comfortably, you need to have a monthly salary or income that is at least three times the EMI amount, which is Rs. 44,091. This means that your yearly salary or income should be at least Rs. 5.29 Lakh.

Ertiga EMI, Down payment, Loan Amount

The following table summarizes the above calculations:

Ex-showroom priceRs. 8.64 Lakh
On road priceRs. 9.74 Lakh
Down paymentRs. 1.73 Lakh (20% of ex-showroom price)
Loan amountRs. 6.91 Lakh
Interest rate10% per annum
Tenure5 years (60 months)
EMIRs. 14,697 per month
Total interest payableRs. 1.92 Lakh
Total amount payableRs. 8.83 Lakh
Monthly salary / income requiredRs. 44,091 (3 times EMI)
Yearly salary / income requiredRs. 5.29 Lakh

We hope this article has given you some idea about how much salary or income you need to own an Ertiga base model in Delhi. However, these are only estimates and may vary depending on various factors such as your credit score, loan eligibility, tax bracket, fuel cost, maintenance cost, etc.

Therefore, we suggest you do your own research and consult a financial advisor before making any decision.

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Siddharth Antre

Hey, I am Siddharth Antre, Blogger & Youtuber From Nashik. Here I share all Auto News on Daily Basis. Writing Blogs since 2014.

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