On paying ₹ 2 lakh down payment, EMI of Hyundai Alcazar Executive petrol model will be only ₹ 24,710!
Hyundai, the South Korean automaker, offers the Alcazar as a 7-seater SUV within its Indian lineup (under 4 meters). The Executive petrol manual variant is priced at ₹14.99 lakh (ex-showroom). In Delhi, the additional costs break down approximately as follows:
- Ex-showroom price: ₹14.99 lakh
- RTO/Registration: ≈ ₹1.61–1.65 lakh
- Insurance: ≈ ₹0.67–0.69 lakh
- Other charges (TCS, Fastag, etc.): ₹15,000
- Total on-road price (Delhi): ₹17.31–17.36 lakh
Down Payment & Financing
If you put down ₹2 lakh, the remaining financed amount will be:
- Loan amount: ₹17.35 lakh − ₹2 lakh = ₹15.35 lakh
Based on the current interest rate and loan tenure:
- Interest rate: 9% per annum
- Loan tenure: 7 years (84 EMIs)
- Monthly EMI: Approximately ₹24,710
This EMI is an estimated figure—actual EMIs may vary slightly depending on the bank’s internal rate (IRR), processing fees, prepayment charges, etc.
Total Repayment & Interest
Under this financing plan:
- Monthly EMI: ₹24,710
- Total EMI paid over 84 months: ₹24,710 × 84 ≈ ₹20.77 lakh
- Total interest paid: Approximately ₹5.39 lakh
- Total cost including down payment: ₹2 lakh + ₹20.77 lakh = ₹22.77 lakh
So, including ex-showroom price, on-road costs, and interest, the total outlay becomes roughly ₹22.77 lakh.
Why Shorter Loan Terms Are Costlier per Month
If the ₹15.35 lakh loan is repaid over 5 years (60 months) instead of 7, the EMI increases because of the shorter tenure. For example:
- 5 years @ 9.8% interest → EMI ≈ ₹33,030
- 7 years @ 9% interest → EMI ≈ ₹24,710
This shows that longer tenure lowers monthly payments but increases total interest paid.
Key Takeaways & Learnings
- Lower EMI, Longer Tenure = Higher Total Interest
A 7-year term brings EMI to ₹24–25k but raises total interest to about ₹5.4 lakh. - Interest Rate Matters
A slight change from 8.5% to 9.8% affects both EMI and total interest. - Related Fees
Processing fees, prepayment charges, and loan closure charges can affect total cost. - Insurance & RTO vary by Location
These costs may differ locally (e.g., if you’re in Agra versus Delhi), so on-road price may vary. - Offers & Discounts
Sometimes Hyundai or finance partners offer special interest rates, cashback, or waived processing fees that could reduce the total cost.
Conclusion
- On-road price: ₹17.31–17.36 lakh (Executive petrol)
- Down payment: ₹2 lakh
- Loan amount: ₹15.35 lakh
- EMI: ₹24,710 per month (for 7 years @ 9% interest)
- Total interest paid: ≈ ₹5.4 lakh
- Total cost: ≈ ₹22.77 lakh
