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• Strong demand for Tata Sierra in India
• How can a person with 50 thousand buy this car
• Know down payment and EMI details

When the Tata Sierra was launched in the market, it received an overwhelming response from the customers. That’s why this car got more than 70 thousand bookings on the first day of booking. Many people have now dreamed of buying this SUV.

When the topic of Tata Sierra comes up, people’s curiosity gets even higher. However, many questions arise in people’s minds in this regard; In particular, is it possible to get a loan for this car easily even with a modest salary?Can you get a loan for ‘ and if so how much will be your monthly installment (EMI)? Let us know about it.

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Know the price first

The starting ‘ex-showroom’ price of the Tata Sierra is approximately 11.49 lakhs, while its top-end variant goes up to 17.99 lakhs. The ‘Smart Plus’ base model of this car is estimated to be priced at Rs 13.30 lakh on-road. If you make a ‘down payment’ of 2 lakhs to buy this base model, you will have to borrow approximately 11.30 lakhs.

In such a scenario, assuming an interest rate of between 8.5% to 10% for a period of 5 years, your monthly installment (EMI) would be approximately between Rs.23000 to Rs.24500. Conversely, if the loan tenure is kept at 3 years, the monthly installments will increase to around Rs 35000; So for a 7 year loan, this installment can come down to around Rs 17000 to 18000.

How much EMI to pay for second variant?

If you’re looking to buy a slightly top variant, like the Pure or diesel model, instead of the base variant, which have an on-road price of around Rs 15 to 17 lakh, the EMI will also increase accordingly. The monthly EMI for such models can go up to around Rs 30000 to Rs 36000. The on-road price of the top variant can exceed Rs 20 lakh. In such a scenario, the EMI can go up to around Rs 38000 on a 5-year loan with a down payment of Rs 2 lakh.

Is it worth buying a car with a salary of Rs 50,000?

According to financial experts, your EMI should not exceed 20% of your in-hand salary. That is, if your salary is Rs 50000, the EMI should be limited to around Rs 10000.

However, the minimum EMI for Tata Sierra also starts around Rs 17000 to 18000, which is high compared to your salary.

If your salary is Rs 50000 and you don’t have any major expenses or debt already then buying this SUV can be financially viable. You may need to make a higher down payment or opt for a cheaper car to reduce the EMI.