Mahindra Scorpio Car Loan: Features & Benefits
The essential features of the Mahindra Scorpio Car Loan are given below:
|Interest Rate||8.25% to 14.26% (Avg is 9.40%)|
|Processing Fee||1.00%, a minimum of Rs. 5,000 to a maximum of Rs. 10,000|
|Loan Tenure||Up to 7 years|
|Lowest EMI||Rs. 1,556 per lakh|
|Loan Amount||Up to 100% of ex-showroom price|
|Prepayment Charges||5% from 13 to 24 months, 3% after 24 months|
Mahindra Scorpio Car Loan Eligibility Criteria
The eligibility criteria to avail of a Mahindra Scorpio Car Loan is given below:
|Age||21 years – 60 years|
|Minimum Annual Income||
|Minimum Credit Score||700 and above|
|Loan Tenure||Up to 7 years|
|Loan to Value Ratio||100% of ex-showroom price|
Mahindra Scorpio Car Loan EMI Calculator
Many banks offer different types of car loans; the best method for understanding a loan is the Car Loan EMI calculator, which helps borrowers to calculate the specific monthly cost they will have to bear for the length of the loan. To measure the EMI value to be stated to the loan receiver, almost all banks use the same basic formula.
The formula is:
E= P. r. (1+r)n/[(1+r) n -1]
- E: refers to the monthly payment or EMI.
- P: refers to the main amount for which you wish to apply.
- r: refers to the monthly interest rate computed as a percentage of yearly income,
- n: refers to the loan term in months.
Mahindra Scorpio Car Loan Interest Rate, Fees, and Charges
|Interest Rate||8.25% to 14.26% (Avg of 9.40%)|
|Processing Fee||Less than Rs. 10,000 or 0.4% of car loan sanctioned|
|Foreclosure Charges||3% to 6% that depends on the loan tenure (no foreclosure fees for loans disbursed after 6 months ago)|
|Documentation Fees||Rs. 600 each time|
|Penalty for Late Payment||2% for each month|
|Financing Quantum||Up to 100% depending on customer profile|
Documents Required for Mahindra Scorpio Car Loan
If an applicant meets all of the eligibility criteria of the Mahindra Scorpio Car Loan, the loan provider will require the applicant to send some necessary paperwork before the loan can be disbursed in order to verify his statements and satisfy some of the specific norms of loan provision. The necessary documents are:
Engine and Transmission
|Engine Type||mHawk Diesel Engine|
|No. of cylinder||4|
|Valves Per Cylinder||4|
|Fuel Supply System||CRDi|
|Gear Box||6 Speed|
Fuel & Performance
|Fuel Tank Capacity (Litres)||60.0|
|Emission Norm Compliance||BS VI|
Suspension, Steering & Brakes
|Front Suspension||Double Wishbone Type, Independent Front Coil Spring|
|Rear Suspension||Multi-Link Coil Spring Suspension with Anti-roll Bar|
|Shock Absorbers Type||Hydraulic Double Acting Telescopic|
|Steering Column||Tilt & Collapsible|
|Steering Gear Type||Rack & Pinion|
|Turning Radius (Metres)||5.4 metres|
|Front Brake Type||Ventilated Disc|
|Rear Brake Type||Drum|
Dimensions & Capacity
|Boot Space (Litres)||460|
|Ground Clearance Unladen (mm)||180|
|Wheel Base (mm)||2680|
|Gross Weight (Kg)||2510|
|Front Headroom (mm)||980-1020|
|No of Doors||5|
Mahindra Scorpio Price
The Mahindra Scorpio costs between Rs. 12.31 lakh and Rs. 17.02 lakh. The base model of the Mahindra Scorpio is the S3 Plus, and the top version is the Mahindra Scorpio S11, which costs Rs. 17.02 lakh. It is available in 6 variants.
Prices of Mahindra Scorpio Ex-showroom Delhi
|S3 Plus||2179 cc, Manual, Diesel||Rs. 12.31 Lakh|
|S3 Plus 9 Seater||2179 cc, Manual, Diesel||Rs. 12.31 Lakh|
|S5||2179 cc, Manual, Diesel||Rs.13.01 Lakh|
|S7||2179 cc, Manual, Diesel||Rs.15.19 Lakh|
|S9||2179 cc, Manual, Diesel||Rs.15.81 Lakh|
|S11||2179 cc, Manual, Diesel||Rs.17.02 Lakh|
Down payment required for Mahindra Scorpio Car Loan
- For Mahindra Scorpio S3 Plus with a loan at a 9.8% rate, the downpayment is Rs.1.47 Lakh with an EMI of Rs.28,165 for 60 months.
- For Mahindra Scorpio S3 Plus 9 Seater with a loan at a 9.8% rate, the downpayment is Rs.1.47 Lakh with an EMI of Rs.28,165 for 60 months.
- For Mahindra Scorpio S5 with a loan at a 9.8% rate, the downpayment is Rs.1.56 Lakh with an EMI of Rs.29,740 for 60 months.
- For Mahindra Scorpio S7 with a loan at a 9.8% rate, the downpayment is Rs.1.81 Lakh with an EMI of Rs.34,631 for 60 months.
- For Mahindra Scorpio S9 with a loan at a 9.8% rate, the downpayment is Rs.1.89 Lakh with an EMI of Rs.36,028 for 60 months.
About Mahindra Scorpio
In 2015, Mahindra unveiled the new-generation Scorpio. The Scorpio received a mid-life upgrade two years later, with a slightly tweaked cosmetic, new seating arrangement, and increased power production. The name of the variants was also changed from even to odd alpha-numeric. The face and grille of the updated Scorpio have been updated. The fascia hasn’t been modified all that much, but it’s more than enough to qualify the car as an upgrade. New lighting signatures have been added to the headlamps and taillights. There are new alloy wheels, as well as an ORVM with an indicator and fog lamps with chrome bezels. New air extractors and a new upper and lower grille mesh configuration are also included in the car.
New Safety & Security Features which are found on Every model of Mahindra Scorpio
The Mahindra Scorpio is equipped with a number of safety features that ensure the occupants’ safety in an accident. Front SRS airbags are standard on the new Scorpio (for drivers and passengers). With these active safety features, the New Scorpio also receives all of the latest active safety features, such as an Anti-lock Braking System (ABS) with Speed Warning, which helps the car maintain stability at high speeds and avoid rollovers. The car also comes with halogen headlamps and fog lamps to improve visibility at night and in poor weather. Mahindra Scorpio is a safe car owing to these features.
|Specs||Mahindra Scorpio||Mahindra XUV500||Mahindra Thar|
|On Road Price||Rs.20,34,333*||Rs.23,89,779*||Rs.16,85,990*|
|Engine Type||mHawk Diesel Engine||mHawk155 Diesel Engine||mHawk 130 Engine|
|Max Power (bhp@rpm)||140bhp@3750rpm||152.87bhp@3750rpm||130bhp@3750rpm|
|Max Torque (nm@rpm)||319nm@1500-2800rpm||360Nm@1750-2800rpm||300nm@1600-2800rpm|
|No Of Cylinder||4||4||4|
|Valves Per Cylinder||4||4||4|
|Fuel Supply System||CRDi||Direct Injection||Direct Engine|
|Gear Box||6 Speed||6 Speed||6 Speed|
|Fuel Tank Capacity||60.0 (Litres)||70.0 (Litres)||57.0 (Litres)|
|Fuel Type||Transmission||ARAI Mileage|
Diesel (2179 cc)
How to get a
Dialabank, India’s First Financial Helpline, is the best place to get a car loan for a Mahindra Scorpio. Customers who participate would save time and money as an outcome. To apply for a loan, go to Dialabank. Dialabank can also be contacted by phone at 9878981166.
May 17, 2021 – Hyundai Creta Continues Its Reign As Best Selling Compact SUV In April 2021
The compact SUV segment continues to enjoy a fair bit of popularity in India and is one of the few to be dominated by its most premium offerings. Like the automotive industry as a whole, this space was also impacted by the second wave of the ongoing pandemic as its monthly figures declined by almost 6 per cent.
May 12, 2021 – Mahindra Cars Offered With Benefits Up To Rs 3.01 Lakh This May
Mahindra has rolled out various benefits on almost all cars, except the second-gen Thar. While most models come with a cash discount, an exchange bonus, and a corporate discount, a few also get additional benefits of up to Rs 20,000. All offers are valid until May 31, 2021.
✅ What is Mahindra Scorpio’s exact on-road price?
Scorpio’s on-road price in Delhi starts at Rs. 14,79,768. RTO fees and insurance are included in the on-road price.
✅ What are the new Mahindra Scorpio offers for May?
Two Mahindra Scorpio deals are available in Delhi for the month of May 2021.
✅ What would Mahindra Scorpio’s EMI or down payment be?
The EMI for a Mahindra Scorpio begins at 28,165 per month for a 60-month term at 9.8% for a loan sum of Rs 13.31 lakh and a down payment of Rs 1.48 lakh.
✅ Is the Mahindra Scorpio car a 5-seater SUV or a 7-seater SUV?
The Mahindra Scorpio is a seven-seater car that costs Rs 12.31 lakh.
Table of Contents
- 1 Mahindra Scorpio Car Loan: Features & Benefits
- 2 Mahindra Scorpio Car Loan Eligibility Criteria
- 3 Mahindra Scorpio Car Loan EMI Calculator
- 4 Mahindra Scorpio Car Loan Interest Rate, Fees, and Charges
- 5 Documents Required for Mahindra Scorpio Car Loan
- 6 Mahindra Scorpio
- 7 Mahindra Scorpio Price
- 8 Prices of Mahindra Scorpio Ex-showroom Delhi
- 9 Down payment required for Mahindra Scorpio Car Loan
- 10 About Mahindra Scorpio
- 11 New Safety & Security Features which are found on Every model of Mahindra Scorpio
- 12 Mahindra Scorpio Comparison with similar cars
- 13 Mahindra Scorpio Mileage
- 14 How to get a Mahindra Scorpio car loan
- 15 Mahindra Scorpio News
- 16 Mahindra Scorpio FAQs