Range Rover EMI: The Land Rover Range Rover is a very popular and luxury car in the Indian market. Its spectacular design and powerful features make it a favorite car of celebrities. However, this car is quite expensive, but if you want to buy it, there is no need to repay the entire amount simultaneously. You can also buy it through easy monthly installments (EMI) by taking a loan.
Price and loan option of range rover
Land Rover has launched the Range Rover Ranthambore Edition in the Indian market, which has an on-road price of Rs 5.72 crore in Noida. If you want to buy it on a loan, you can get a loan of up to Rs 5.15 crore. But note that the loan amount depends on your credit score. If your credit score is good, the bank can give you more loans, which will reduce your down payment.
How to buy range rover on EMI?
If you want to buy a range rover on a loan, first you have to submit a certain down payment, and the remaining amount will be received from the bank as a loan. The loan amount and the monthly installment depends on the interest rate and the duration of the loan. If you take a loan for four years (48 months), then EMI of Rs 12.80 lakh will have to be filled every month. At the same time, if you choose a duration of five years (60 months), then you have to deposit Rs 10.68 lakh every month. If the loan duration is reduced to six years (72 months), the EMI will be reduced to Rs 9.28 lakh per month. Your monthly installment will be Rs 8.28 lakh when the longest period is seven years (84 months). Therefore, you should choose the right loan period based on your financial position and payment capacity, so that you can buy your favorite car without any hassle.
How much to pay down payment?
To buy Range Rover Ranthambore Edition, you have to make a down payment of Rs 57.17 lakh. The higher the down payment, the less your monthly EMI will be.
Will it be right to buy a car on EMI?
If you are planning to buy a luxury car and you do not have a large amount together, buying a car on EMI can be a good option. However, before this you must understand your income, expenditure and ability to repay the loan. If you have enough funds, EMI’s burden can be reduced by more down payment.
To buy expensive car like Range Rover on EMI, you have to do good planning. If your credit score is better, then you can get a loan at a low interest rate, which will also reduce EMI. Overall, if you are thinking of buying this car on a loan, it is necessary to correctly assess your financial situation, so that you can buy your dream car without any hassle.
Conclusion
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