Know Mahindra XUV400 electric SUV loan EMI on Rs 1.7 lakh down payment: Details explained

The Mahindra XUV400 is the latest electric car to be launched in the Indian market, and also the company’s first all-electric SUV. Equipped with a 39.4 kWh battery pack, the XUV400 has a claimed range of 456 km on a single charge, while its electric motor helps it dash from 0 to 100 kmph in just 8.3 seconds. The Mahindra XUV400 poses a direct threat to the Tata Nexon EV – India’s current best-selling electric car.
Planning to buy the XUV400 and wondering how much EMI would you have to pay? Here’s a table showing the variant-wise on-road (Delhi) price of the Mahindra EV, and the lowest monthly installment you would have to shell out for it, keeping in mind an average tenure, ROI, as well as down payment –

To make it easier for you, we have chosen an average tenure period of 5 years as standard, along with approximately 10% down payment amount, and an estimated 10% bank interest rate. Do note that the buyer is free to decide the tenure for which he/she will be taking the loan for, whereas the interest rate varies from one bank to another. Moreover, you can also choose to pay a higher or a lower down payment, which will decrease or increase your easy monthly installment (EMI) respectively.

Mahindra & Mahindra retails the XUV400 in India at a starting price of Rs 15.99 lakh for the entry-level EC variant, going all the way up to Rs 18.99 lakh (both prices, ex-showroom) for the range-topping EL variant. However, the estimated on-road (Delhi) price of the Mahindra electric SUV currently ranges between about Rs 16.83 lakh and Rs 19.97 lakh.
For example, let’s assume you decide on purchasing the top-end EL variant of the Mahindra XUV400, which currently has an ex-showroom price of Rs 18.99 lakh. If you pay Rs 2 lakh as down payment out of the Rs Rs 19.97 lakh on-road (Delhi) price, you would end up paying Rs 38,176 as EMI for a period of 60 months (5 years) against a total loan amount of Rs 17.97 lakh. At the end of the tenure, you would have paid Rs 22.91 lakh for the electric SUV over and above the down payment.
Do let us know in the comments down below if you would like to know the EMI for any other car, motorcycle or scooter of your choice.