Mahindra Scorpio Car Loan

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Mahindra Scorpio Car Loan

Mahindra Scorpio Car Loan: Features & Benefits

The essential features of the Mahindra Scorpio Car Loan are given below:

Features Car Loan
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:

Eligibility Requirements Details
Age 21 years – 60 years
Minimum Annual Income
  • For Salaried Individuals: Rs. 0.01 Lakh Lakhs
  • For Self Employed Professionals: Rs. 0.01 Lakh Lakhs
  • For Self Employed Businessmen: Rs. 0.01 Lakh Lakhs
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:

Individual  Documentation
Salaried Employees
  • Two Passport-size photos and a copy of your PAN card
  • Aadhaar, Passport, Driving License, Voter ID, PAN are required for identification proof.
  • Automobile rate quote
  • Passport, Leave and License, Registered Rent Agreement, Utility Bill (up to 3 months old), Residential Address Proof.
  • 3 months pay stubs, 2 years Form 16, 3 months bank statement displaying salary credit and any EMI debit
  • Vehicle Registration and Insurance
Self-Employed Applicants
  • Two Passport-size photos and a copy of your PAN card
  • Aadhaar, Passport, Driving License, Voter ID, and PAN are necessary for identity proof.
  • Car price quote
  • Proof of residential address – leave and license/registered rent agreement/utility bill (up to 3 months old), Passport.
  • Income Documents – 3 months pay stubs, 2 years of Form 16, 3 months bank statement displaying income credit and any EMI debit.
  • Vehicle Registration and Insurance

Mahindra Scorpio

Mahindra Scorpio Car

Engine and Transmission

Engine Type mHawk Diesel Engine
Displacement (cc) 2179
Max Power 140bhp@3750rpm
Max Torque 319nm@1500-2800rpm
No. of cylinder 4
Valves Per Cylinder 4
Fuel Supply System CRDi
Turbo Charger Yes
Super Charge No
TransmissionType Manual
Gear Box 6 Speed
Mild Hybrid No
Drive Type RWD

Fuel & Performance

Fuel Type Diesel
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 Type Hydraulic
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

Length (mm) 4456
Width (mm) 1820
Height (mm) 1995
Boot Space (Litres) 460
Seating Capacity 7
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

Variant Specs
Ex-Showroom Price
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.

Mahindra Scorpio Comparison with similar cars

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
Displacement (cc) 2179 2179 2184
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
Valve Configuration DOHC DOHC
Fuel Supply System CRDi Direct Injection Direct Engine
Transmission Type Manual Automatic Automatic
Gear Box 6 Speed 6 Speed 6 Speed
Drive Type RWD FWD 4X4
Fuel Type Diesel Diesel Diesel
Fuel Tank Capacity 60.0 (Litres) 70.0 (Litres) 57.0 (Litres)

Mahindra Scorpio Mileage

Fuel Type Transmission ARAI Mileage
Diesel (2179 cc)
Manual 15 kmpl

How to get a Mahindra Scorpio car loan

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.

Mahindra Scorpio News

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.

Mahindra Scorpio FAQs

✅ 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.