Maruti S-Presso is an option for those looking for a small and affordable car in a low budget. Its compact design makes driving and parking easy in cities. At the same time, the CNG variant can help in keeping fuel expenses low for people who drive more cars daily. If you are preparing to finance it, then it is important to understand the complete details of down payment and EMI.

How much loan for ₹20,000 down payment?

According to the given example, the on-road price of petrol variant of S-Presso is considered to be around ₹ 3.90 lakh. If the buyer makes a down payment of ₹20,000, the remaining amount will have to be paid through a loan. However, the actual loan amount may vary depending on RTO fees, insurance, dealer charges and bank terms and conditions in your city.

EMI on 4 years loan

If a loan is taken for 4 years at an interest rate of around 9.8%, then according to the calculations given, the monthly EMI can be around ₹ 9,372.

EMI will be higher during this period, but due to early termination of the loan, the interest burden may be less as compared to long term.

How much installment on 5 years loan?

If the loan tenure is increased to 5 years, then in the same example the EMI comes to around ₹7,844 per month.

This option may be better for those who want to keep each month's installment a little lower. However, the total interest payment may also increase as the tenure increases.

EMI and less in 6 year loan

If you choose a tenure of 6 years, the monthly EMI is said to be around ₹6,834. This means that you will have to pay much less amount every month than in 4 years. But the thing to keep in mind here is that low EMI does not always mean a cheap loan. The total payment to the bank in the form of interest over a longer period may be higher.

Why might CNG variant be better?

The CNG model of S-Presso can be useful for those who have a lot of daily running. Depending on the price and availability of CNG, its running cost may be lower than petrol.

The car gets a factory-fitted CNG option with the 1.0-litre engine. However, the mileage claimed by the company and the actual driving mileage may differ. Traffic, road, AC usage and driving style also affect fuel consumption.

What is available in features?

Features like digital instrument cluster, infotainment system, steering-mounted controls, keyless entry, ABS and airbags are available in S-Presso. However, features may vary depending on the variant. Therefore, before buying a CNG model, definitely check the complete feature list of the selected variant.

Don't buy a car just by looking at EMI

Just looking at the monthly EMI is not enough when financing a car. Also include these expenses in your shopping budget:

down payment
RTO and Insurance
bank interest rate
processing fee
car maintenance cost
Estimated monthly cost of CNG or petrol

Also, it will be beneficial to compare the interest rates of different banks and finance companies.