New Delhi. Tata Motors has launched its new electric SUV Tata Curve EV in the Indian market. The price of this great electric car starts from Rs 17.49 lakh (ex-showroom). Tata Curve EV is available in a total of seven variants and 5 different colors. The driving range of this car is said to be around 550 km, which makes it a great electric car even for long distances. But the question arises that how much salary should one have to buy this car? Let’s know.
If you are thinking of buying this SUV, then first of all you have to make a proper plan keeping in mind your financial condition. As a general rule, you have to take care of some important things for buying a car, which include down payment, EMI and loan tenure.
20% down payment will be required
The ex-showroom price of Tata Curvv EV is Rs 17.49 lakh. After this, after adding insurance, registration and other charges, the on-road price of the car will be around Rs 18.55 lakh. On this price, you will have to make a down payment of 20%, which will be around Rs 3.71 lakh.
This is how you can decide EMI
Whenever you take a loan for a vehicle, keep in mind that your EMI should not exceed 10% of your monthly income. For example, if your monthly income is Rs 1 lakh, then your EMI should not exceed Rs 10,000.
It is very important to keep the loan tenure in mind. The loan tenure should not be more than 4 years. Taking a loan for a longer period can increase your total interest amount, which will also increase the total cost of the vehicle.
How much should the salary be?
If you take a loan of Rs 15 lakh to buy Tata Curvv EV and take it for 4 years at 9.5% interest rate, then your monthly EMI will be around Rs 37,685. According to the basic rule of 20-4-10 for buying a car, your salary should be around Rs 3.5 lakh, so that the budget for other expenses does not get spoiled.
Tag: auto news, Tata Motors
first published : August 25, 2024, 06:39 IST
