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
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
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.
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
