Purchasing the Maruti Alto K10 can be easier if you’re considering a down payment of only ₹1 lakh. The Maruti Alto K10 is an entry-level car known for its affordability, good mileage, and easy maintenance. Here’s how you can buy it with ₹1 lakh and learn about the finance options.
How to Buy Maruti Alto K10 with ₹1 Lakh?
- Down Payment and Loan: If you make a down payment of ₹1 lakh, you can take a loan for the remaining amount from a finance company or bank. The on-road price of Maruti Alto K10 is approximately ₹4-5 lakh (depending on the variant).
For example, if the car’s price is ₹4.5 lakh and you make a down payment of ₹1 lakh, you would need a loan for the remaining ₹3.5 lakh.
- EMI Scheme: When you take a loan from a bank or finance company, you will need to pay a fixed EMI (monthly installment) each month. If the loan tenure is 5 years with an interest rate of around 9-10%, your EMI would be approximately ₹7,000 – ₹8,000 per month.
The EMI may vary depending on the loan term and interest rate.
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Documents Required for Loan:
- Identity proof (such as Aadhar Card, PAN Card)
- Address proof (such as Voter ID, Driving License)
- Income proof (such as salary slips, bank statements)
- Good credit score to ensure easy loan approval.
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Benefits:
- Low Down Payment: With just ₹1 lakh as a down payment, you can bring the car home right away.
- Easy EMI: With small monthly installments, it becomes easier to own the car.
- Affordable Maintenance: The Alto K10 has low maintenance costs, making it an economical long-term option.
Key Features of Maruti Alto K10:
- Engine: 1.0-liter petrol engine, delivering about 67 bhp of power.
- Mileage: Approximately 22-25 kmpl, making it very economical in terms of mileage.
- Space and Comfort: Adequate space and comfortable seating for a small family.
- Safety: Basic safety features like dual airbags, ABS, and reverse parking sensors.
In this way, with just a down payment of ₹1 lakh, you can bring home the Maruti Alto K10 and easily pay off the remaining amount through EMIs.
