Maruti Alto 800 Car Loan - Down Payment and EMI Price

Maruti Alto 800 is one of the most popular small cars in the country. Although the car has lost its place as the largest selling car in India after the influx of various international car makers, Maruti Alto 800 continues to be a force to reckon with in the small car segment. Maruti Suzuki Alto 800 comes in two basic variants with a single engine and transmission mechanism. The car is available in two fuel variants of petrol and CNG. Every month Maruti Alto 800 sells well over 20,000 units across the country. Being a small car priced with exceptional quality and lucrative price, Maruti Alto 800 is a car of choice for the majority. The car is ideal for people with low income group as it offers easy car loan availability and lower EMIS due to low pricing of the car.

The cheapest variant of Maruti Alto 800 is the standard version which comes with a petrol engine and a starting price of Rs 2.41 Lakhs (ex-showroom New Delhi). The upper model of Maruti Alto 800 is priced at close to Rs. 3.53 Lakhs. Bank loans are easily available for purchasing both new and used Maruti Alto 800 model. Most public sector and private banks including the State Bank of India, ICICI Bank, HDFC Bank, Bank of Baroda and Allahabad Bank have active collaboration with various Maruti Suzuki dealers and agencies offering pre approved car loans. The final approval of the car loan is done as per the financial credential of the buyer and his or her repayment history.

For people willing to purchase any variant of Maruti Alto 800, a minimum down payment of 20% of the ex showroom price of the car depending on their selected model of Rs. 1 Lakh whichever is higher needs to be paid upfront by the buyer.  The interest rates for car loans offered by various banks keep in floating as per the prevailing market conditions and economic parameters. The car loan interest rates offered by various banks as of August 2014 are as follows.

Different banks and non banking financial companies charge different processing fee and other loan facilitation charges as per the quantum of the car loan. Before applying for a car loan for Maruti Alto 800 make sure to have a good CIBIL credit score preferably over 700 points.

Before applying for a car loan, make sure to check with various EMI calculator tools to make sure the tenure allows for comfortable repayment of the loan. Ideally one must not be paying more than 40% of his or her total monthly income as car loan EMI for each month. Various online EMI calculator tools like the one available at BankBazaar.com offer users the option of checking their EMIs for the car loan depending on the amount, tenure and rate of inertest.

Report this Page