The Toyota Fortuner is already the best-selling SUV in its segment, priced between Rs 41.59 lakh and Rs 62.47 lakh (on-road, Mumbai). For the buyers who are planning to buy this SUV on loan, here’s a detailed explanation of how much EMI you would need to pay to bring this SUV home –Attention Readers! Join us on the WhatsApp Community for daily auto news updates
*Note – we have taken the on-road, Mumbai price for the model, and the standard down payment is 20%, and ROI is 9.5%.
Toyota Fortuner EMI – Variant and Pricing
To calculate EMI, we have considered two variants of the model: 4×2 petrol automatic and 4×4 diesel automatic. The price for the petrol variant is Rs 41.59 lakh, and for the diesel variant is Rs 53.4 lakh (both on-road, Mumbai).
3-Year Loan Tenure
Petrol Automatic:
Downpayment 8,32,635Loan 33,30,538Interest5,10,158EMI1,06,686
If you opt for a 3-year loan tenure, you would need to repay a total of Rs 33.3 lakh, including Rs 5.10 lakh in interest. With that, the monthly instalments come to around Rs 1.06 lakh.
Diesel 4X4 Automatic:
Downpayment 10,68,855Loan 38,80,100Interest5,94,468EMI1,24,313
For the Diesel 4×4 automatic variant, you would need to pay Rs 1.24 lakh per month for EMI. The total loan amount here translates to Rs 38.8 lakh, and the interest is Rs 5.94 lakh.
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5-Year Loan Tenure
Petrol Automatic:
Downpayment 8,32,635Loan 33,30,538Interest8,66,282EMI69,947
For a lower EMI, you can opt for a 5-year loan tenure, where you would need to pay Rs 69,947 per month. However, in this case, the overall interest payable increases by around Rs 3 lakh compared to the 3-year tenure.
Diesel 4X4 Automatic:
Downpayment 10,68,855Loan 38,80,100Interest10,09,440EMI81,504
For having a diesel 4×4 automatic variant of the Toyota Fortuner, you would need to pay an EMI of 81,504 for a 5-year loan tenure. Over a 5-year loan, the total interest payable for the diesel model is nearly Rs 5 lakh higher than over a 3-year tenure.
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7-Year Loan Tenure
Petrol Automatic:
Downpayment 8,32,635Loan 33,30,538Interest12,41,918EMI54,434
Opt for a 7-year loan tenure if you want a more feasible EMI. In this case, for having a Toyota Fortuner on loan, you would need to pay Rs 54,434 per month. However, the total interest payable here is approximately the on-road cost of a new Renault Duster, which is Rs 12.41 lakh.
Diesel 4X4 Automatic:
Downpayment 10,68,855Loan 38,80,100Interest14,47,068EMI63,427
In a 7-year loan plan, the EMI for the diesel automatic variant is Rs 63,427. The total interest in this case is Rs 14.47 lakh, which is nearly Rs 4 lakh more than the 5-year loan tenure.
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Our Say
Surely, buying the Toyota Fortuner on loan helps to manage the overall costs. Moreover, a longer loan tenure might also be easier on your pocket. However, you will need to pay interest to the bank, which in turn increases the overall cost of the SUV.
Also note that the down payment and interest rate can vary depending on the bank and your credit score. That said, the actual payable amount may be higher or lower depending on your individual circumstances.
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