Indians The craze for Mahindra Thar is continuously increasing in India and there is no need to say much about it because we all know about it. This is the reason why the number of Thar is increasing rapidly on the roads of India. Now Mahindra Thar is becoming the choice not only of youth or men but also of all age groups and women. If you are also planning to buy Mahindra Thar and are confused about the loan, then here we are going to clear all your confusion. Here we will tell you what should be your salary to buy Mahindra Thar and how much EMI you will have to pay every month.
What should be the monthly salary to buy Mahindra Thar?
Car loans are available in the country at interest rates ranging from about 8.5 percent to 15 percent. For car loan, your annual salary should be at least Rs 3 lakh i.e. monthly salary should be at least Rs 25,000. Banks give car loans to their customers up to 48 times their monthly salary. Suppose, your monthly salary is Rs 50,000, then you can get a car loan up to Rs 50,000×48=24,00,000.
How much will be the EMI every month?
The ex-showroom price of Mahindra Thar ranges from Rs 9.99 lakh to Rs 17.19 lakh. The on-road price of Thar in Delhi ranges from Rs 12 lakh to Rs 21.20 lakh. If you want to buy the top model of Thar for Rs 21.20 lakh, then you can get a loan of up to Rs 24 lakh on a salary of Rs 50,000. But, if you make a down payment of Rs 5 lakh, you will need a loan of approximately Rs 16.20 lakh. If you get a car loan for 5 years even at an interest rate of 8.5%, you will have to pay an EMI of approximately Rs 33,852 every month.
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