The entry-level hatchback segment is booming with multiple offerings like the Tata Nano, Renault Kwid, Maruti Suzuki Alto 800, Hyundai Eon and also the newly launched Datsun redi-Go. In order to draw maximum number of customers into their respective showrooms, car manufacturers have been devising new offers and schemes to give the most lucrative deals. This includes giving free accessories and waiving off the insurance amount at times. Additionally, these brands also offer a tailor-made downpayment scheme to make the deal even more interesting. However, have you wondered what is the lowest downpayment that one can make to drive home a brand new car, we take a look in the ascending order.
Minimum downpayment: Rs 21,955
Letâ€™s start with the Tata Nano considering that it is the least priced among its competition. The Nano is available in five variants – XE, XM, XT, XMA and XTA. The base variant XE misses on important features like power steering, a Bluetooth compatible music system and an air-conditioner and is priced at Rs 2.07 lakh (ex-Delhi). With a loan from IDBI bank, one can make a lowest downpayment of Rs 21,995 and pay the rest in five years with an EMI of Rs 3,231 at 9.75 per cent
Minimum downpayment: Rs 30, 000
Moving on to a larger hatch, the Hyundai Eon is available in a total of 14 variants which includes 11 for the 800cc version and two for the 1-litre version. The base variant D-Lite gets an engine immobilizer and a remote tailgate opener but this one too misses on an air-conditioner, central locking and an airbag. The D-Lite variant is priced at Rs 3.52 lakh (ex-Delhi). With a loan from SBI bank, the D-Lite variant can be availed for a minimum downpayment of Rs 30,000 with an EMI amount of Rs 3808 spread across seven years at 10.50%
Minimum downpayment: Rs 35,000
Then comes the Renault Kwid, a hatch that Renault-claims is inspired by a crossover. The Renault Kwid is available in a total of 5 variants – standard, RXE, RXL, RXT and RXT(O). The base variant RXE is priced at Rs 2.62 lakh (ex-Delhi) and gets similar basic features as its rival models. One can get this variant by paying a downpayment of Rs 35,000 which basically includes the cost of registration and insurance. The rest of the amount can be paid with an EMI of Rs 5,977 spread across four years
Minimum downpayment: Rs 63,420
And finally, the newly launched Datsun redi-Go which is the latest entrant in the entry-level hatchback segment in India. The Datsun redi-Go is available in five variants – D, A, T, T(O) and S. The baseline variant D is priced at Rs 2,38,900 (ex-Delhi). Depending on the individualâ€™s profile, one can pay a minimum downpayment of Rs 63,420 and pay the rest of the amount in EMIs of Rs 3,594 spread across seven years.
Maruti Suzuki Alto 800
Minimium downpayment: Rs 70,000
The most popular of the lot, the Maruti Suzuki Alto 800 is available in 10 variants which includes two CNG versions. The base variant for the Maruti Suzuki Alto 800 too, like the Nano doesnâ€™t get important features like central locking, air-conditioner, power steering and an airbag. The standard variant is priced at Rs 2.45 lakh (ex-Delhi). With a loan from SBI bank, one can get the base variant of the Alto 800 for a downpayment of Rs 70,000 and pay the rest of the amount in seven years with an EMI of Rs 4,562 at 9.75 per cent