Maruti Suzuki is one of the most prominent names in the Indian automobile industry. The company recently unveiled the new version of its popular Swift model in 2024. This stylish and fuel-efficient hatchback continues to be a favorite among Indian car buyers. Let’s get into the details of the Maruti Swift 2024, specifically the mid-level VXI variant and its costs.
Understanding the Costs
Ex-showroom price of the Swift VXI variant is estimated to be at Rs 7.29 lakh. The actual on-road will be much costlier due to extra charges imposed: RTO Fees: Which depends on place, but here in Delhi; it would approximate to around 52,000. Insurance: It would involve comprehensive coverage for which it can be around Rs 29,000. Other Charges: This includes the smart card fees, MCD charges (if applicable), and Fastag, which will sum up to approximately Rs 5,485. With these additional costs, the on-road price of the Maruti Swift VXI in Delhi will be about Rs 8.16 lakh.
Financing Your Swift
Many buyers prefer to take car loans to fund their car purchase. Let’s take an example where you pay a down payment of Rs 2 lakh. That means you will have to arrange for a loan of about Rs 6.16 lakh from a bank. Given an interest rate of 9%, assuming a loan tenure of seven years, your EMI will stand at approximately Rs 9,913. This means you’ll pay about Rs 2.16 lakh as interest during the loan period.
Total Cost of Ownership
There’s ex-showroom price, which will add all the on-road expenses, as well as total interest paid on a loan. Total cost of owning Swift VXI would come about to Rs 10.32 lakh.
Rivalling in Hatchback Segment
The Maruti Swift faces extreme competition in this Indian market of hatchbacks, some of them are:, Maruti Baleno: Another much-popular automobile of Maruti Suzuki. Maruti Wagon R, S-Presso: Others in the same class. Toyota Glanza: Badge engineered version of Maruti Baleno. Tata Altroz: Strong competitor with safety aspects. Hyundai Grand i10 Nios: It is a more rounded option which is stylish as well. Tata Tiago: More on the practicality side and price-friendly.
Conclusion
The Maruti Swift 2024 continues to be a compelling choice in the Indian hatchback segment. Its stylish design, fuel efficiency, and strong brand value make it a popular option for both personal and family use.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice.
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