Tata Nexon Financing Guide: Down Payment, EMI, and Interest Explained

Considering the rapid trend in car financing these days, buying a new SUV through a loan can be straightforward. When it comes to SUVs, Tata Motors’ popular Nexon compact SUV is a good option. You can finance the Smart and Smart Plus manual petrol variants and have them delivered to your doorstep after a down payment of just Rs 100,000 (This amount may vary depending on the lender and your creditworthiness). This will help you determine the loan amount you need, the interest rate, and the EMI amount and duration.

Check the price and features first:

The ex-showroom price of the Smart and Smart Plus variants of the Tata Nexon’s petrol manual option is Rs 8.15 lakh and Rs 9.20 lakh respectively. Both variants come with a 1,199 cc petrol engine that produces 118.27 PS. Its mileage is 17.44 kmpl. In this 5-seater SUV, you get a multi-function steering wheel, a touchscreen infotainment system, and many other standard and safety features that are decent for its price range. Now let us explain the financing details of these two Nexon variants.

Tata Nexon Smart Essence Manual Variant Loan Deposit EMI Details:

The on-road price of the Nexon Smart, the second cheapest variant of the Tata Nexon’s petrol manual variant, is Rs 9.15 lakh. If you finance this SUV with a down payment of Rs 1 lakh, you will get a loan of Rs 8.15 lakh. If you take a 5-year car loan and the interest rate is 9%, you will have to pay around Rs 17,000 in EMI every month for the next 5 years. To finance the Nexon Smart manual petrol variant on the above terms, the interest will be around Rs 2 lakh.

Tata Nexon Smart Plus Petrol Manual Variant Loan Details:

The on-road price of Nexon Smart Plus, the third cheapest variant of Tata Nexon, is Rs 10.31 lakh. If you finance this option with a down payment of Rs 1 lakh, you will have to take a loan of Rs 9.31 lakh. If the loan is taken for 5 years at an interest rate of 9%, Rs 19,326 will have to be paid in the form of monthly installments (EMI) for the next 60 months. To finance the Nexon Smart Plus manual petrol variant on the above terms, the interest will be around Rs 2.29 lakh.