Recently, Kia has launched its new generation Carnival in India. This premium car has become popular among the people as soon as it arrived. However, due to its expensive price, only rich people are able to buy it. If you are also thinking of buying Kia Carnival, then we will tell you on how much salary you can buy it through down payment and EMI.

Kia Carnival Prices

The new Kia Carnival is available in the Indian market in only one variant, Limousine Plus. Its ex-showroom price is Rs 63 lakh 90 thousand. On the other hand, if we talk about the on-road price, it reaches around Rs 75 lakh 60 thousand in Delhi.

Mathematics of Down Payment and EMI

Now let's know how this car can be bought on down payment and EMI. If you make a down payment of Rs 11.72 lakh in Delhi, then you will have to take a loan of Rs 63.88 lakh from the bank. The monthly installment (EMI) of this loan will be around Rs 1 lakh 29 thousand, when the interest rate on the loan is 8%.

How much should the salary be?

To buy Kia Carnival, you should have a monthly salary of at least Rs 3 to 5 lakh. This is so that you can feel comfortable paying your EMI. Thus, if you pay a total interest of Rs 15 lakh 69 thousand to the bank in 5 years, you will have to pay a total of Rs 83 lakh 61 thousand. It is worth noting that this amount can also change depending on the loan interest rate and your credit score.

Is this the right investment?

If your salary falls in this range and you are thinking of buying the Kia Carnival, then it can be a good investment for you. Its premium design, features and safety standards make it an attractive option. However, keep in mind that you have to take special care of your budget while buying such an expensive car. The Kia Carnival is a luxurious and premium car that will definitely make your journey comfortable and safe. If your salary is suitable to buy this car, then you can consider it. Its grandeur and features will definitely give you a different experience.

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