jeep-compass-EMI

Jeep Compass EMI Options Explained Here – Read & Choose a Car of Your Budget

Are you looking to buy Jeep Compass whose booking is only growing in number with each day passing by? Contemplating on which variants to buy? Also pondering on the interest rate and EMI? If all these come to your mind, you have come to the right place to know them. Firstly, the EMI is greatly dictated by the interest rate charged on a car loan.

There are two more factors – loan amount and tenure – that decide the installment one has to pay each month. As far as loan eligibility is concerned, one can get a loan of upto 85%-90% of the on-road price of Jeep Compass.

However, based on your income and repayment capability, the eventual loan amount can either increase or decrease from the stated range. Meanwhile, you can get a car loan for a maximum of 7 years at an interest rate of 8.75%-12% per annum.

Importantly, the loan requirement can differ across different variants due to the variation in prices of these models. And when the loan amount is different, the EMI can also differ. Hence, the Jeep Compass EMI Options can be best understood when you know the price of each variant.

Overview on Jeep Compass Variants

Jeep Compass is launched in petrol and diesel variants under Sport, Limited, Limited Option, Longitude, Longitude Option and Limited 4X4 trims. The newly launched models command an ex-showroom price ranging from ₹15.16-21.37 lakhs. After adding the costs of RTO and insurance to the ex-showroom price, the on-road price of these variants can rise to anywhere between ₹17.69-25.18 lakhs. Now, let’s discuss the price and applicable EMI of each variant.

Sport

The ex-showroom price of the petrol version stands at ₹15.16 lakhs, while its on-road price is likely to be ₹17.69 lakhs. You can thus given a loan of ₹15.04-15.92 lakhs, resulting in an EMI of ₹24,008-28,103 to be serviced over the tenure of 7 years.

Read Also: Hyundai Creta EMI Options – Affordable for Those with a Monthly Earning ₹45,000 and More!

On the other hand, the diesel option of Sport will cost ₹15.99 lakhs at the showroom and ₹18.90 lakhs on the road. In that is going to be the case, the loan eligibility would then range from ₹16.07-17.01 lakhs. When it comes to the installments, they can be around ₹25,652-30,027.

Limited

Be ready to shell out more cash if you are looking to buy the petrol-powered Limited variant. This vehicle will be available in the showroom at a price of ₹18.96. But the price will go up to ₹21.89 lakhs when it hits the road. Taking these prices into consideration, the loan amount can range from ₹18.61-19.70 lakhs. This will lead to an EMI of ₹29,706-34,776, which a borrower has to pay on a monthly basis for a tenure of about 7 years.

The diesel variant, though, will be available at a higher price of ₹18.68 lakhs in the showroom. And its on-road will go up to ₹22.04 lakhs. In such a situation, you would be offered a loan of ₹18.73-19.84 lakhs. In turn, you would need to pay it back in installments of 29,898-35,023 for as long as 7 years.

Limited Option

The Limited Option variant, equipped with a petrol engine option, bears an ex-showroom and on-road price of ₹19.67 lakhs and ₹22.70 lakhs, respectively. Based on the car price, you can be given a loan of about ₹19.30-20.43 lakhs. If you get the loan amount within this range, the applicable EMI will be ₹30,808-36,065 based on the rates of 8.75%-12% for a period of 7 years.

The diesel option of this variant is priced at ₹19.41 lakhs when you enquire at the showroom. The increased showroom price will also raise the price of the vehicle on the road. Yes, it’s on-road price stands at ₹22.89 lakhs, which is higher than the petrol variant. Taking into account the general 85%-90% on-road finance rule, the loan amount can be ₹19.40-20.60 lakhs. Also, if you take the existing rates of 8.75%-12% into the consideration, the resulting EMI would come out as ₹31,063-36,365.

Longitude

The diesel-powered vehicle has arrived at your nearby showroom carrying a price of ₹17.03 lakhs. However, the on-road price will jump to ₹20.11 lakhs with the addition of costs like RTO and insurance. So, when you apply for a loan to buy this model, the concerned financial institution can lend upto ₹17.09-18.10 lakhs. If you do get the disbursal of this amount, then get ready to set aside ₹27,280-31,951 each month for the payment of installment.

Longitude Option

This is a diesel-powered vehicle which comes at an ex-showroom price of ₹17.85 lakhs. The on-road price, however, will be ₹21.07 lakhs. If the bank finances 85%-90% of the on-road price, the loan amount would then equal to ₹17.91-18.96 lakhs. On this loan amount, the EMI could be somewhere around ₹28,859-33,470.

Limited 4×4

The diesel-engine equipped vehicle, when in the showroom, is available at a price of ₹20.65 lakhs. On the road, its price surges to ₹24.34 lakhs and thus creates a possibility of a loan worth ₹20.69-21.91 lakhs. The loan EMI can thus range from ₹33,026-38,677.

Limited 4×4 Option

As a top-end model of Jeep Compass, Limited 4×4 Option bears an ex-showroom price of ₹21.37 lakhs. Its on-road price, on the other hand, is likely to be ₹25.18 lakhs. The loan offer can be ₹21.40-22.66 lakhs, which would yield an EMI of around ₹34,160-40,000 that you would need to pay to own this version.

Now that you have got the information of Jeep Compass EMI Options, you are in the best position to decide the car variant which will fit into your pocket. Choose that car to enjoy a long-ride with your friends and family. However, on analyzing the EMI pattern with respect to each of the variants, it can be said that a borrower with a monthly income of ₹50,000 and above can find it easy to pay the installments.

 

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