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MG ZS EV Base Variant Costs ₹24.51 Lakh With Loan: Full Calculation Inside
Car Finance Plan: MG Motors sells vehicles across multiple segments in India. The manufacturer also sells the MG ZS EV. If you're considering buying the base variant of this EV, how much EMI can you pay each month after making a down payment of just ₹3 lakh? Let's find out.
The automaker MG Motors offers various classes of vehicles in the country. The MG ZS EV, an electric vehicle from the manufacturer, is also available for sale. If you are planning to buy the vehicle, how much EMI you can afford after paying the down payment, i.e., ₹3 lakh, needs to be determined.
The base model of the ZS EV is available in the market with the MG Motors company at an ex-showroom price of ₹17.99 lakh. The on-road price for the vehicle, in the case of Delhi, amounts to ₹18.92 lakh, considering the ex-showroom price at ₹17.99 lakh, the cost for the RTO at ₹75,000, and the cost for the insurance at ₹18,000.
If you are buying the base variant of the car, the bank will finance the ex-showroom price. So, after making a down payment of ₹3 lakh, you will have to finance an amount of ₹15.92 lakh from the bank. If the bank gives you ₹15.92 lakh for seven years at 9% interest, you will have to pay an EMI of just ₹25,617 per month for the next seven years.
If you take a car loan of Rs 15.92 lakh from the bank for seven years with an interest rate of 9%, then you will have to pay an EMI of Rs 25617 every month for seven years. In such a situation, in seven years you will pay around Rs 5.59 lakh as interest for the MG ZS EV. After which you will pay around Rs 24.51 lakh for the car including ex-showroom, on-road and interest.
