Can a Rs 15,000 Salary Afford the Mahindra XUV 3XO on EMI? See Details

If you’re eyeing the Mahindra XUV 3XO and planning to purchase the MX1 variant, here’s what you can expect regarding the down payment and monthly EMI. This entry-level SUV is priced at Rs 7.99 lakh (ex-showroom), and the total cost will be a bit higher with taxes and insurance.

Price Breakdown and EMI Calculation

When buying the XUV 3XO MX1, you’ll face extra costs. In Delhi, the on-road price will be about Rs 8.97 lakh, which includes RTO fees of around Rs 56,000 and insurance of about Rs 42,000. After paying an initial down payment of Rs 2 lakh, you would need a loan of roughly Rs 6.97 lakh.

Monthly EMI and Loan Details

Assuming a loan tenure of 7 years with an interest rate of 9%, the EMI will be approximately Rs 11,216 per month. Over the next seven years, the total interest you’ll pay will be around Rs 2.45 lakh. So, your total expense on the Mahindra XUV 3XO will be around Rs 11.42 lakh, including the ex-showroom price, taxes, and interest.

By understanding the EMI structure and the overall cost, you can make an informed decision before buying the XUV 3XO MX1.

Can a Rs 15,000 Salary Afford the Mahindra XUV 3XO on EMI?

With a monthly salary of Rs 15,000, it might be challenging to afford the Mahindra XUV 3XO. Based on an EMI of approximately Rs 11,216 for a loan of Rs 6.97 lakh, the monthly payment could take up a large portion of the salary. Additionally, other expenses like insurance, fuel, and maintenance should also be considered.

In this case, it may be better to explore more affordable vehicle options or consider increasing the down payment to reduce the loan amount.