If you’re considering the purchase of a new Swift Base model car in Delhi, you may be pondering the required salary or income to make it financially viable. This article aims to address this query by examining essential factors such as the ex-showroom price, on-road price, EMI calculations, as well as monthly and yearly ownership expenses associated with acquiring a new Swift Base model car in Delhi.
Swift Base model (LXI variant) Price in India
As of September 2023, the ex-showroom price of the new Swift Base model (LXI variant) in Delhi stands at Rs. 5,99,450. This figure represents the base cost of the car, exclusive of taxes, registration fees, insurance, or any supplementary charges. The on-road price of the new Swift Base model in Delhi amounts to Rs. 6,66,316, encompassing all associated expenses necessary for vehicle registration and insurance in your name.
Swift Base model EMI
When considering the ownership of a car, it’s vital to account not only for the upfront costs but also for ongoing expenses like fuel, maintenance, servicing, repairs, and more. For the new Swift Base model, with an average mileage of 22.38 kmpl and assuming the current petrol price in Delhi is Rs. 101.19 per litre, the fuel cost per km is approximately Rs. 4.52.
To determine the necessary monthly and yearly salary or income to afford a new Swift Base model in Delhi, we’ll make certain assumptions based on typical values. We will assume:
- You drive 1000 km per month, approximately 33 km per day.
- Monthly maintenance and servicing costs amount to Rs. 2000.
- You finance the car through a 5-year car loan with a 10% annual interest rate.
- A down payment of 20% of the on-road price is made.
- An income tax rate of 20% applies to your salary or income.
Based on these assumptions, we can create a table presenting the monthly and yearly expenses associated with owning a new Swift Base model in Delhi, along with the minimum required monthly and yearly salary or income to accommodate these expenses.
| Expense | Monthly | Yearly |
|---|---|---|
| Fuel | Rs. 4,520 | Rs. 54,240 |
| Maintenance | Rs. 2,000 | Rs. 24,000 |
| Loan EMI | Rs. 9,005 | Rs. 1,08,060 |
| Total Expense | Rs. 15,525 | Rs. 1,86,300 |
| Minimum Salary/Income (before tax) | Rs. 19,406 | Rs. 2,32,875 |
Summary
As illustrated in the table, to comfortably own a new Swift Base model car in Delhi, a minimum monthly income of Rs. 19,406 or an annual income of Rs. 2,32,875 (pre-tax) is advisable. It’s important to note that these figures are approximations, and your actual expenses and income can vary based on factors such as your driving patterns, lifestyle decisions, loan conditions, tax brackets, and more.
We trust that this article has provided you with valuable insights and guidance regarding the income required to afford a new Swift Base model car in Delhi.