Are you planning to purchase the MG Hector and wondering how much EMI would you have to pay? Here’s a table showing the variant-wise on-road (Delhi) price of the MG SUV, 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 –
|1.5-litre turbo petrol|
|Style MT||Rs 16,23,569||5 years||9.8%||Rs 1,60,000||Rs 30,953|
|Shine MT||Rs 17,40,531||5 years||9.8%||Rs 1,74,000||Rs 33,130|
|Shine CVT||Rs 18,78,343||5 years||9.8%||Rs 1,88,000||Rs 35,749|
|Smart Hybrid MT||Rs 19,79,292||5 years||9.8%||Rs 1,98,000||Rs 37,672|
|Smart CVT||Rs 20,48,100||5 years||9.8%||Rs 2,05,000||Rs 38,979|
|Sharp Hybrid MT||Rs 21,34,110||5 years||9.8%||Rs 2,13,000||Rs 40,629|
|Sharp CVT||Rs 22,27,098||5 years||9.8%||Rs 2,23,000||Rs 42,384|
|Style MT||Rs 18,55,978||5 years||9.8%||Rs 1,86,000||Rs 35,318|
|Shine MT||Rs 20,30,867||5 years||9.8%||Rs 2,03,000||Rs 38,657|
|Smart MT||Rs 22,27,006||5 years||9.8%||Rs 2,23,000||Rs 42,382|
|Sharp MT||Rs 23,67,904||5 years||9.8%||Rs 2,37,000||Rs 45,066|
To simplify the process, we have chosen an average tenure period of 5 years, along with approximately 10% down payment amount, and an estimated 9.8% bank interest rate as standard. 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.
MG Motor currently retails the Hector in India at a starting price of Rs 14.15 lakh for the entry-level Style petrol MT variant, going all the way up to Rs 20.11 lakh (both prices, ex-showroom) for the range-topping Sharp diesel MT model. However, the on-road (Delhi) price of the MG SUV currently ranges between Rs 16.24 lakh and Rs 23.68 lakh.
For example, let’s assume you decide on buying the Sharp MT diesel variant of the MG Hector SUV, which currently has an ex-showroom price of Rs 20.11 lakh. If you pay Rs 2.37lakh as down payment out of the Rs 23,67,904 on-road (Delhi) price, you would end up paying Rs 45,066 as EMI for a period of 60 months (5 years) for a total loan amount of Rs 21,30,904. At the end of the tenure, you would have paid Rs 27,03,960 for the SUV, over and above the down payment.
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!