If you are planning to buy a new car, you might be wondering how much income you need to afford it. In this article, we will help you calculate the monthly and yearly salary / income required to own the New Hyundai Exter Base Model, a compact SUV from Hyundai. We will also compare the ex-showroom price and the on-road price of this car in Delhi.
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New Hyundai Exter Base Model Price
The Exter Base model is the entry-level variant of the Exter, which comes with a 1.2-litre petrol engine and a manual transmission. Ex-showroom price of New Exter car in Delhi is Rs. 5.99 lakh, which means that this is the price before taxes, insurance, registration and other charges are added. The on-road price of this car in Delhi is Rs. 6.71 lakh, which includes all the additional costs.
Down Payment
To own the New Hyundai Exter Base Model, you need to pay a down payment of at least 10% of the on-road price, which is Rs. 67,100. The rest of the amount can be financed through a car loan from a bank or a financial institution. The interest rate and the tenure of the car loan will depend on various factors, such as your credit score, income, loan amount and loan scheme.
EMI For 5 Years
Assuming that you have a good credit score and you opt for a car loan from SBI, which offers an interest rate of 8.65% p.a. for a tenure of 5 years, your monthly EMI (equated monthly instalment) will be Rs. 11,471. This means that you have to pay at lest Rs. 11,471 every month for 60 months to repay your car loan.
To afford this EMI comfortably, your monthly income should be at least three times the EMI amount, which is Rs. 34,413. This translates to an annual income of Rs. 4.13 lakh. Therefore, if you earn more than Rs. 4.13 lakh per year, you can own the Exter Base model without any financial stress.
The following table summaries the key figures for owning the Exter Base model in Delhi:
| Parameter | Value |
|---|---|
| Ex-showroom price | Rs. 5.99 lakh |
| On-road price | Rs. 6.71 lakh |
| Down payment | Rs. 67,100 |
| Car loan amount | Rs. 6.04 lakh |
| Interest rate | 8.65% p.a. |
| Tenure | 5 years |
| EMI | Rs. 11,471 |
| Monthly income required | Rs. 34,413 |
| Yearly income required | Rs. 4.13 lakh |
We hope that this article has helped you understand how much salary / income you need to own the Exter Base model in Delhi.
Please Note: On Road Price for any Vehicles Vary from city to city (Different). For More Details Please Visit Your Nearby Showrooms.
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