Know Mahindra Thar SUV EMI Loan on Rs 1.5 lakh Down Payment: Details Explained

The Mahindra Thar is currently the most affordable mainstream off-road SUV in the Indian market, and is also one of the most capable vehicles at its price point. With the latest price hike in place, the petrol variants of the Thar are now priced at Rs 13.53 lakh and Rs 15.76 lakh, while the diesel variants are priced at Rs 13.89 lakh to Rs 16.03 lakh (all prices, ex-showroom).
Thinking of buying the Mahindra Thar and wondering how much EMI would you have to pay for the rugged SUV? Here is a table showing the on-road (Delhi) price per variant of the Mahindra Thar, and the lowest monthly installment you would have to shell out, keeping in mind an average term, return on investment, as well as down payment –
Variant On-road prices
(Delhi)
Mandate Interest rate
(valued)
Down
Payment
NDE
AX (O) Gasoline MT
Convertible roof
Rs 15,80,474 5 years 9.8% Rs 1,50,000 30,253 rupees
LX Gasoline MT
Hardtop
Rs 16,59,136 5 years 9.8% Rs 1,66,000 31,578 rupees
LX petrol AT
Convertible roof
Rs 18,24,088 5 years 9.8% Rs 1,82,000 34,728 rupees
LX gasoline AT
Hardtop
Rs 18,33,854 5 years 9.8% Rs 1,83,000 34,914 rupees
AX (O) Diesel MT
Convertible roof
Rs 16,69,220 5 years 9.8% Rs 1,67,000 31,770 rupees
AX (O) Diesel MT
Hardtop
Rs 16,74,904 5 years 9.8% Rs 1,67,000 31,890 rupees
LX Diesel MT
Convertible roof
Rs 17,40,538 5 years 9.8% Rs 1,74,000 33,130 rupees
LX Diesel MT
Hardtop
Rs 17,51,131 5 years 9.8% Rs 1,75,000 33,333 rupees
LX Diesel AT
Convertible roof
Rs 19,10,956 5 years 9.8% Rs 1,91,000 36,375 rupees
LX Diesel AT
Hardtop
Rs 19,21,644 5 years 9.8% Rs 1,92,000 36,580 rupees

We have decided to take an average occupancy period of 5 years as standard, with approximately 10% initial down payment and an estimated bank interest rate of 9.8%. It should be noted that the buyer is free to decide how long he needs to repay the loan amount, while the interest rate varies from bank to bank. Also, one can choose to pay a higher or lower down payment, which will decrease or increase your Easy Monthly Payment (EMI) respectively.
Mahindra is currently selling the Thar SUV in India at a base price of Rs 13.53 lakh for the entry-level AX(O) Petrol MT variant with a convertible top, going up to Rs 16.03 lakh (both price, ex-showroom) for the top model LX Diesel AT Hard Top. However, the on-road (Delhi) price of the Mahindra off-roader is currently between Rs 15.80 lakh and Rs 19.22 lakh.

For example, if you were to purchase the LX Petrol AT Convertible Top variant of the Mahindra Thar (ex-showroom price – Rs 15.67 lakh), you would end up paying Rs 34,728 as a monthly installment for a period of 60 months (5 years) at a return on investment of 9.8%, along with a one-time down payment of Rs 1.82 lakh. In this scenario, the total loan amount will be Rs 16,42,088.
All added up, you end up paying around Rs 22,65,680 for this particular variant of the Thar at the end of your loan term, which includes the price on the road, the down payment amount, as well as the interest incurred over the aforementioned period. . . If there is any other car or SUV you would like to know the EMI loan amount for, let us know in the comments section below.

Clifton L. Boyd