Honda Elevate: Honda Elevate SUV loan EMI on Rs 2.5 lakh down payment: Details explained

Honda Cars India marked its entry into the ever-growing mid-size SUV segment with the launch of the Elevate SUV, also making it the brand’s only SUV offering in India. The Elevate is a direct rival to top-selling SUVs like Hyundai Creta, Kia Seltos, Maruti Suzuki Grand Vitara, among other similarly priced offerings. The Honda car is offered with the same 1.5-litre i-VTEC engine as the City, available with a 5MT or an optional CVT auto.
Planning to buy the new Honda Elevate and wondering how much EMI would you have to pay? Here’s a table showing the variant-wise on-road (Delhi) price of the Honda mid-size SUV, and the lowest monthly installment you would have to shell out for it, keeping in mind an average tenure, ROI, as well as down payment –

To simplify the process, we have chosen an average tenure period of five years as standard, along with approximately 20% down payment amount, and an estimated 10% bank interest rate.Do note that the buyer is free to decide the tenure for which he/she will be taking the loan for, whereas the interest rate varies from one bank to another. Moreover, you can also choose to pay a higher or a lower down payment, which will decrease or increase your equated monthly installment (EMI) respectively.

Honda offers the Elevate in India in in four different variants, namely SV, V, VX and ZX, priced from Rs 11 lakh to Rs 16 lakh (ex-showroom). However, the on-road (Delhi) price of the SUV ranges from about Rs 12.74 lakh to Rs 18.48 lakh.
Do let us know in the comments down below if you’d like to know the loan EMI for any other car, motorcycle or scooter of your choice!