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Baleno Base Model Price in India

Your Monthly Salary To Own Baleno Base Model – EMI

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If you are planning to buy a new Baleno Base model car in Delhi, you might be wondering how much income you need to afford it. In this article, we will help you estimate the monthly and yearly salary or income required to own this car, based on the ex-showroom price, on-road price, loan amount, interest rate, and loan tenure.

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Baleno Base Model Price in India

Baleno Base Model Price in India
Baleno Base Model Price in India

The ex-showroom price of the new Baleno Base model (Sigma) in Delhi is Rs. 6.61 lakh as of September 2023. The on-road price, which includes RTO charges, insurance, and other fees, is Rs. 7.53 lakh. Assuming that you make a down payment of 20% of the on-road price, which is Rs. 1.51 lakh, the loan amount you need to borrow is Rs. 6.02 lakh.

The interest rate for car loans varies from one bank to another, depending on your credit score, loan tenure, and other factors. the lowest interest rate for car loans in India is 8.60% p.a., offered by HDFC Bank. The highest interest rate is 19.30% p.a., offered by Federal Bank for customers with low credit scores or no income documents.

Monthly EMI and Interest Rate

Let us assume that you opt for a loan tenure of 5 years (60 months), which is the average loan duration for car loans in India. Using an online EMI calculator, we can find out the monthly EMI and the total interest payable for different interest rates.

Interest RateMonthly EMITotal Interest Payable
8.60%Rs. 12,312Rs. 1.39 lakh
9.00%Rs. 12,486Rs. 1.49 lakh
10.00%Rs. 12,833Rs. 1.70 lakh
11.00%Rs. 13,189Rs. 1.92 lakh
12.00%Rs. 13,553Rs. 2.13 lakh
13.00%Rs. 13,926Rs. 2.36 lakh
14.00%Rs. 14,307Rs. 2.59 lakh
15.00%Rs. 14,697Rs. 2.82 lakh
16.00%Rs. 15,095Rs. 3.06 lakh
17.00%Rs. 15,502Rs. 3.30 lakh
18.00%Rs. 15,917Rs. 3.55 lakh
19.00%Rs.16,341Rs .3 .80 lakh

As you can see from the table, the monthly EMI and the total interest payable increase as the interest rate increases.

To estimate the monthly and yearly salary or income required to own the new Baleno Base model car, we need to consider two factors: the EMI-to-income ratio and the disposable income.

The EMI-to-income ratio is the percentage of your monthly income that goes towards paying your loan EMI and other debt obligations such as credit card bills or personal loans.

The disposable income is the amount of money left after paying your EMI and other essential expenses such as rent, food, utilities, transportation, education, etc.

Ideally, your EMI-to-income ratio should not exceed 40% of your monthly income. This means that if your monthly income is Rs .50 ,000, your EMI should not be more than Rs .20 ,000.

Similarly, your disposable income should be sufficient to meet your savings and investment goals and any unforeseen emergencies or expenses.

Let us assume that your essential expenses are 50% of your monthly income. This means that if your monthly income is Rs .50 ,000, your essential expenses are Rs .25 ,000.

Therefore, your disposable income is Rs .25 ,000 minus your EMI.

Minimum Monthly Income

Based on these assumptions, we can calculate the minimum monthly and yearly salary or income required to own the new Baleno Base model car for different interest rates.

Interest RateMonthly EMIMinimum Monthly IncomeMinimum Yearly Income
8.60%Rs. 12,312Rs. 30,780Rs. 3.69 lakh
9.00%Rs. 12,486Rs. 31,215Rs. 3.75 lakh
10.00%Rs. 12,833Rs. 32,083Rs. 3.85 lakh
11.00%Rs. 13,189Rs. 32,973Rs. 3.96 lakh
12.00%Rs. 13,553Rs. 33,883Rs. 4.07 lakh
13.00%Rs. 13,926Rs. 34,815Rs .4 .18 lakh
14.00%Rs .14 ,307Rs .35 ,768Rs .4 .29 lakh
15.00%Rs .14 ,697Rs .36 ,743Rs .4 .41 lakh
16.00%Rs .15 ,095Rs .37 ,738Rs .4 .53 lakh
17.00%Rs .15 ,502Rs .38 ,755Rs .4 .65 lakh
18.00%Rs .15 ,917Rs .39 ,793Rs .4 .78 lakh
19.00%Rs .16 ,341Rs .40 ,853Rs .4 .90 lakh

As you can see from the table, the minimum monthly and yearly income required to own the new Baleno Base model car increases as the interest rate increases.

These are only rough estimates based on some assumptions and may vary depending on your actual income, expenses, savings, and loan terms.

We hope this article has helped you understand how much income you need to own the new Baleno Base model car in Delhi.

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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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