Maruti Suzuki launched the new model of its popular hatchback, Swift, in India on 9 May 2024. If you are also thinking of buying the mid variant, VXI, of this car and want to bring it home by making a down payment of ₹ 2 lakh, then this article will give you information about how much EMI you will have to pay every month.
Maruti Swift Price
The VXI variant of the Maruti Swift is offered as a mid-variant. The ex-showroom price of this variant is ₹ 7.29 lakh. If this hatchback car is bought in Delhi, then about ₹ 52 thousand will have to be paid for RTO, about ₹ 29 thousand for insurance, and ₹ 5485 for smart card, MCD charge, and Fastag. After this, the on-road price of Maruti Swift becomes around ₹ 8.16 lakh.
How much EMI after ₹ 2 lakh down payment?
If you buy the mid-variant VXI for this car, then the bank will only finance the ex-showroom price. In such a situation, after making a down payment of ₹ 2 lakh, you will have to invest about ₹ 6.16 lakh from the bank. If you get a loan of ₹ 6.16 lakh from the bank at an interest rate of nine percent for seven years, then you will have to pay an EMI of ₹ 9913 every month for the next seven years.
Total cost of the car
If you take a car loan of ₹ 6.16 lakh from the bank at an interest rate of nine percent for seven years, then you will have to pay an EMI of ₹ 9913 every month for seven years. In such a situation, in seven years you will pay about ₹ 2.16 lakh as interest for the new Swift 2024. After this, the total cost of your car including ex-showroom, on-road, and interest will be around ₹ 10.32 lakh.
Who is the competition
Maruti sells Swift in the hatchback segment. The Swift offered by the company competes directly with its own company’s Baleno, Wagon R, and S-Presso as well as cars like Toyota Glanza, Tata Altroz, Hyundai Grand i10 Nios, and Tata Tiago.