The Mahindra Bolero Classic, one of the most trusted entry-level SUVs in India, continues to attract buyers looking for a robust, low-maintenance vehicle. For those planning to purchase it with a ₹2 lakh down payment, we break down the monthly EMI, financing, and total cost of ownership in this detailed report.
Ex-Showroom and On-Road Price in Delhi
Mahindra offers the Bolero Classic at an ex-showroom price of ₹9.79 lakh. For Delhi buyers, additional costs include approximately ₹90,000 for RTO registration and ₹55,000 for insurance, bringing the on-road price to around ₹11.29 lakh.
Loan Scenario with ₹2 Lakh Down Payment
If you make a down payment of ₹2 lakh, the remaining amount of ₹9.29 lakh can be financed through a car loan. Assuming the bank offers a loan at 9% interest for a tenure of 7 years, the monthly EMI would come to ₹14,956.
Here’s a quick calculation:
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Loan Amount: ₹9.29 lakh
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Interest Rate: 9% p.a.
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Loan Tenure: 7 years (84 months)
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Monthly EMI: ₹14,956
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Total Interest Paid: Approx. ₹3.26 lakh
This means the total amount paid over 7 years would be ₹14.56 lakh, including EMI and down payment.
How Much More Do You Pay in Interest?
The buyer ends up paying nearly ₹3.26 lakh as interest over 7 years. So, while the ex-showroom price is ₹9.79 lakh, the actual cost of the vehicle—including interest, RTO, insurance, and down payment—goes up to approximately ₹14.56 lakh.
Market Rivals and Alternatives
The Mahindra Bolero Classic, though positioned as a rugged utility SUV, competes in pricing and segment interest with modern urban SUVs like the Maruti Grand Vitara, Hyundai Creta, Kia Seltos, and Honda Elevate. While these offer more premium features, the Bolero remains a favourite in tier-2 and rural markets due to its reliability and simplicity.
