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• Mahindra Scorpio Classic has good demand in India
• Know Down Payment and EMI
• Easy and simple finance plan

SUVs have always been in great demand in India. Also, Mahindra’s many SUVs are very popular in India. One such mid-size SUV is the Mahindra Scorpio Classic. Buying this SUV is a dream of many.

If you want to buy the ‘base variant’ of the Mahindra Scorpio Classic and bring the SUV home with a ‘down payment’ of 2 lakhs, what will be your monthly EMI? Let’s find out about it.

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Mahindra Scorpio Classic Price

The base variant of this SUV is currently priced at Rs 13 lakh (ex-showroom price). If the car is bought in Delhi, apart from the ex-showroom price of Rs 13 lakh, registration and insurance charges will also be included in the total cost. To buy this car, the customer will have to pay about 1.62 lakhs for registration tax and about 79 thousand rupees for insurance. In addition, TCS (Tax Collected at Source) charges of approximately Rs.13000 will also be applicable. As a result, the ‘on-road’ price of this SUV stands at Rs 15.54 lakh.

How much is the EMI after two lakh down payment?

If you take the base variant of the Scorpio Classic, the bank usually provides a loan at the ex-showroom price. In such a case you will have to take a loan of around Rs 13.54 lakh after making a down payment of Rs 2 lakh. If you get this loan for 7 years at 9% interest rate, the monthly EMI will be around Rs 21,793. You will have to pay this EMI for seven consecutive years.

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How expensive will the car cost?

If a loan of Rs 13.54 lakh is taken for 7 years at 9% interest rate, the total interest amount comes to around Rs 4.76 lakh. That is, through EMI, you pay more along with principal and interest. This can take the total cost of the car (including ex-showroom, on-road costs and interest) to around Rs 20.30 lakh. So while EMI may seem easy, long-term costs must be considered.

Who is the competition?

Mahindra’s Scorpio Classic falls into the mid-size SUV segment. In this segment it directly competes with popular SUVs like Mahindra Scorpio N, Mahindra XUV700, MG Hector, Tata Safari, Tata Sierra, Kia Seltos and Hyundai Creta.