Answer - 1 out of 1

Dear Rumela,

Surely you can get loan facility on your vehicle i.e. Maruti Swift along with you can also make payments in installments, the EMIs. However as far as down payment amount and monthly installment amount is concerned, it all depends upon the initial amount of down payment that decides your EMIs.

For instance, if you choose to go for Maruti Swift VXI Petrol model its price (ex showroom, Delhi) is Rs 4.90 Lakh. Usually you need to pay 30% of the actual cost of vehicle that comes to Rs 1.47 Lakh and remaining is Rs 3.43 Lakh. So let’s say that the loan amount is Rs 3.43 Lakh that will be financed by the bank at 12.5% interest. After calculating it comes around to an installment of Rs 30,555/month for 12 months, if extended to 24 months you need to give Rs 16,226/m. Moreover if you opt for 36 months or 48 months installment plan it will be Rs 11,475/m or Rs 9,117/m respectively.