Tata Tiago EV: The demand for electric cars in India is rising rapidly, especially among middle-class buyers looking for budget-friendly EV options. To cater to this demand, Tata Motors introduced its most affordable electric hatchback – the Tata Tiago EV.
If you are planning to buy this EV and have only ₹1 lakh for a down payment, here’s a complete breakdown of its on-road price, EMI, loan details, and total cost.
Tata Tiago EV Price in India
The base variant of the Tata Tiago EV is priced at ₹7.99 lakh (ex-showroom). In Delhi, the on-road price goes up to around ₹8.42 lakh, which includes RTO charges and insurance.
EMI Calculation with ₹1 Lakh Down Payment
If you pay ₹1 lakh as down payment, the remaining amount of ₹7.42 lakh will be financed through a car loan. Assuming a 9% interest rate for a 7-year tenure, the EMI comes to approximately:
- Monthly EMI: ₹11,935
- Total Interest Payable: ₹2.60 lakh
- Total Cost (Car + Interest): ~₹11 lakh
Tata Tiago EV Finance Plan – Key Details
| Particulars | Amount / Details |
|---|---|
| Ex-showroom Price | ₹7.99 lakh |
| On-road Price (Delhi) | ₹8.42 lakh |
| Down Payment | ₹1 lakh |
| Loan Amount | ₹7.42 lakh |
| Interest Rate | 9% |
| Loan Tenure | 7 years |
| Monthly EMI | ₹11,935 |
| Total Interest | ₹2.60 lakh |
| Total Cost (with Interest) | ~₹11 lakh |
How Much Extra Will You Pay?
By opting for a loan, buyers will end up paying ₹2.60 lakh extra as interest over seven years. This means the actual cost of the Tata Tiago EV, which has an ex-showroom price of ₹7.99 lakh, will rise to nearly ₹11 lakh including on-road charges and loan interest.
Tata Tiago EV Rivals in the Market
In the electric hatchback segment, the Tata Tiago EV competes directly with the JSW MG Comet EV and the Citroen eC3. Apart from these, it also poses competition to several premium hatchbacks and entry-level SUVs in India.
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