If you are thinking of buying Land Rover's luxury car Range Rover, then you do not need to make the entire payment at once. You can also add this great car to your garage by taking a loan from the bank. For this, you get the opportunity to choose the EMI option for four or five years as per your convenience. Let us know how much down payment you will have to make for the loan of Range Rover and how much amount you will have to deposit in the bank every month as an installment.
Land Rover Range Rover Price and Down Payment
The on-road price of the 3.0-litre LWB Autobiography model of Land Rover Range Rover is Rs 2.98 crore in New Delhi. However, there may be a slight difference in its price in different cities. To buy this expensive car, you will have to make a down payment of Rs 29.89 lakh, which will be a part of the total price of the car.
Option to take loan from bank
If you want to buy this car on a loan from the bank, then you will have to take a loan of Rs 2.69 crore. An interest rate of 9 percent will be applicable on this loan. Now it is important to know how much EMI you will have to pay every month to repay this loan.
How much will be the EMI per month?
Loan for four years: If you take a loan for four years (48 months), you will have to pay an EMI of around Rs 6.70 lakh every month. This EMI amount is decided on the basis of the loan tenure and interest rate.
Loan for five years: If you take a loan for five years (60 months), you will have to pay an EMI of around Rs 5.60 lakh every month. In this option, the monthly installment is slightly less due to the longer loan period.
Loan for six years: If you take the loan for a period of six years (72 months), then you will have to pay an EMI of around Rs 4.85 lakh every month. In this option, you will pay lower installments due to choosing a longer period.
Loan for seven years: Finally, if you take a loan for seven years (84 months), your EMI will be around Rs 4.33 lakh. In this way, you are getting a great option to take a loan from the bank to buy an expensive and luxury car like Range Rover. You have to choose the loan period according to your convenience, so that your EMI amount can fit in your budget. You can take a loan for four years, or for a longer period so that the monthly installment is a little less. In this way, you can easily make your Range Rover your car without any hassle.
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