India When a car becomes people’s choice, it becomes not just a car but an identity. The era of vehicles has always been visible in the country. Talking about the present time, many vehicles are in trend right now, which include vehicles like Mahindra Thar, Mahindra Scorpio-N, Toyota Fortuner, Land Rover Defender. In India, Toyota Fortuner is now becoming the choice not only of politicians but also of many sections including businessmen, artists. Today we will know what should be your salary to buy Toyota Fortuner and how much EMI will you have to pay every month after buying it?
toyota fortuner price
Ex-showroom price of Toyota Fortuner in India starts from Rs 34.16 lakh and goes up to Rs 49.59 lakh. Along with the ex-showroom price, you have to pay a hefty amount for registration and insurance. Apart from this, there are many other charges on the vehicle, after which its on-road price increases from Rs 40 lakh to Rs 59 lakh.
To buy Toyota Fortuner, financial condition should be strong.
Financial experts believe that the price of your car should not be more than 50% of your annual income, so that your financial condition remains better and you do not face any kind of financial problems and your investment also remains safe. That means, if you want to buy the top model of Toyota Fortuner for Rs 59 lakh, then your annual income should be at least Rs 1.18 crore.
EMI accounting
- If you live in Delhi and want to buy the top model of Toyota Fortuner and its price is Rs 58.80 lakh, you should make a down payment of 20 percent i.e. Rs 11.76 lakh.
- By making a down payment of Rs 11.76 lakh for a car worth Rs 58.80 lakh, you will have to take a loan of Rs 47.04 lakh.
- Most banks are providing car loans at interest rates up to 8.5 percent. If you take a loan of Rs 47.2 lakh even for 5 years, then you will have to pay EMI of Rs 96,500 every month.
What should be the salary to buy Fortuner?
Financial experts say that your car loan EMI should not be more than 20 percent of your in-hand salary. So that, there is no bad impact on your financial situation. That is, if your EMI is around Rs 1 lakh, it means your monthly salary should also be up to Rs 5 lakh. Based on this calculation and advice from financial experts, your monthly salary should be at least Rs 5 lakh to buy a Toyota Fortuner. Financial experts believe that to buy an expensive car, you not only have to pay a huge EMI, but you also have to spend a huge amount from time to time for its maintenance.
Latest Business News