Homegrown automaker Mahindra made an update to its top-selling SUV model Scorpio way back in 2015. The model underwent a series of modifications including a new seating configuration besides a tweak to its cosmetic design and several other changes.
Well, the on-road price of the new generation Scorpio model can be anywhere between ₹11.75-18.79 lakhs. Since cars are mostly financed, you can get a loan to buy this innovative car to add grandeur to your life.
The loan will have to be carried through EMIs for the period you choose to go with. And if you want to know the exact installment, you can use Mahindra Scorpio EMI Calculator to do so. The article will deliberate on the calculator in this article.
EMIs Pertaining to Different Mahindra Scorpio Models
Mahindra Scorpio is available in different variants at different on-road prices.
S3 2WD – The variant commands a price of ₹11.75 lakhs on which a loan of ₹10-10.58 lakhs is expected. The EMI on the loan would come out as ₹16,089-19,247.
S5 2WD – This variant is available at price worth ₹13.73 lakhs. A loan of ₹10.11-12.36 lakhs is expected, which would result in an EMI of ₹16,266-22,485.
S7 120 2WD – The price of this 2179 CC vehicle stands at ₹14.97 lakhs. Based on the price, you can get a loan worth ₹11.03-13.47 lakhs, requiring you to pay an EMI of ₹17,746-24,505.
S7 140 2WD – You can get this 2179 CC variant at a price of ₹15.32 lakhs, which can result in a loan of ₹11.29-13.79 lakhs. The EMI payable on this car amounts to ₹18,165-25,087.
S11 2WD – The 2179 CC vehicle comes at a price of around ₹17.41 lakhs on which a loan worth ₹12.85-15.67 lakhs can be granted. The loan can be serviced with an EMI of ₹20,674-28,507.
S11 4WD – The vehicle commands a price worth ₹18.79 lakhs, keeping the loan eligibility to ₹13.90-16.91 lakhs. On the given loan amount, an EMI of ₹22,364-30,763 would be applicable.
Note – The on-road price of Mahindra Scorpio models shown above is applicable to the units available in New Delhi. It will differ according to the location. As loans are generally financed at 85%-90% of the on-road price, the expected loan amount shown with respect to the models are calculated that way. The EMI calculation has taken into account an interest rate of 9%-13% and a tenure of 7 years. Depending on the actual loan amount, tenure and rate of interest, the eventual EMI can vary.
Mahindra Scorpio Down Payment DetailsMahindra Scorpio Down Payment
Mahindra Scorpio Down Payment for different models can be calculated by deducting the loan amount applicable from the on-road price. You need to make this payment from your end to get the keys to your vehicle.
How to Apply for a Loan to Buy Mahindra Scorpio Models?
Before applying, you should first choose a Mahindra Scorpio model that fits your budget by considering the EMI shown above. Secondly, choose a lender that can give you a loan at a lower rate of interest. To apply, you can go either visit the website of the lender or its nearest branch. In both the cases, the application form needs to be filled with precision and only when the details are verified successfully does the bank give a nod.