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Buy CNG variant of Maruti Suzuki Celerio for ₹1.33 lakh. Here's how EMI works
Also, as a year-end discount, the manufacturer is giving ₹75,000 off on the variant. The VXi model is priced at ₹6.69 lakh.
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Maruti Suzuki vehicles will become costlier starting January. This means that December 31 will be the last day on which customers will be able to buy the company's car at existing, lower rates. Also, the company is offering year-end discounts on its cars.
According to HT's sister website Live Hindustan, Maruti Suzuki is giving maximum discount on the CNG variant of its Celerio hatchback. The CNG variant (VXi) is priced at ₹6.69 lakh (ex-showroom). You can buy it by paying the whole amount at once, or by making a down payment of 20% on the ex-showroom cost, and paying the rest of the amount in monthly instalments (EMIs).
SBI auto loans
The State Bank of India (SBI) is offering auto loans at an interest of 7.35% to 8.50%, and for 5 to 7 years. Hence, after giving 20% of the car's ex-showroom price upfront, the remaining amount can be paid by taking a loan from SBI. Customers will able to return this loan at convenient EMIs.
For Celerio's VXi variant, here is the maths for 7 years with 8.50% interest rate.
EMI calculation for Celerio
A 20% down payment means giving ₹133,800 upfront. This, in turn, means you will have to take a loan of ₹535,200. For 7 years, and at 8.50%, you will pay a monthly EMI of ₹8,476. In 7 years, the total interest paid will be ₹176,758.
Discount on CNG variant
The automaker is giving year-end discount of ₹75,000 ( ₹60,000 cash and ₹15,000 exchange bonus) on the VXi variant. Therefore you can buy it for ₹5.94 lakh, before 2022 ends.
