The dream of owning a car is a common one, and the new Mahindra Scorpio Classic Base model is a popular choice among many. However, it’s essential to understand the financial implications of this decision. Let’s break down the costs associated with owning this vehicle in 2024.
Price Breakdown
![](https://autowithsid.in/wp-content/uploads/2024/03/Mahindra-Scorpio-Classic-Waiting-Period-1024x576.jpg)
The Ex-showroom price of the new Mahindra Scorpio Classic Base model in 2024 starts at ₹13.59 lakh. The On-Road price, which includes additional costs such as insurance and taxes, is approximately ₹20.1 lakh.
Estimated Monthly and Yearly Salary / Income
![](https://autowithsid.in/wp-content/uploads/2024/03/scorpio-base-model-price-1024x546.webp)
Assuming that you finance this car with a loan for 5 years at an interest rate of 8.5%, the EMI would be around ₹25.09K. Therefore, to comfortably afford this car, your monthly income should be at least three times the EMI, i.e., around ₹75.27K. This translates to an annual income of approximately ₹9.03 lakh.
Here’s a summary:
Cost Type | Amount (₹) |
---|---|
Ex-showroom Price | 13.59 lakh |
On-Road Price | 20.1 lakh |
Monthly Income (Estimated) | 75.27K |
Yearly Income (Estimated) | 9.03 lakh |
Remember, these are rough estimates and actual costs can vary based on various factors like loan terms, interest rates, and personal spending habits. Always consult with a financial advisor before making such a significant investment.
![](https://autowithsid.in/wp-content/uploads/2024/03/scorpio-4-1024x576.jpg)
Owning a car is not just about the purchase price; it’s also about the ongoing costs of maintenance, insurance, and fuel. So, plan wisely and enjoy the ride in your new Mahindra Scorpio Classic Base model!
Also Read This: Owning the New Hyundai Venue Base Model: A Financial Perspective