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Honda offers its compact sedan, the Amaze facelift, for sale in the Indian market. If you’re considering purchasing the base variant, the Amaze V, and wish to make a down payment of ₹2 lakhs, this article provides detailed information on how much your monthly EMI would be. Read on to know the exact costs and EMI calculations to help you make an informed decision.
Honda Amaze V Price Overview
The new-generation Honda Amaze was launched in December 2024. The ex-showroom price for the base variant, the Honda Amaze V, is ₹8.10 lakh. If you decide to buy this car in Delhi, additional costs such as the Road Tax and Insurance will need to be factored in. The Road Tax will be approximately ₹56,000, and the insurance will be around ₹42,000. After adding these additional charges, the on-road price of the Honda Amaze V will be approximately ₹9.09 lakh.
EMI Calculation After a ₹2 Lakh Down Payment
For those interested in purchasing the Honda Amaze V, a bank loan can be taken to finance the remaining amount after the down payment. If you plan to make a down payment of ₹2 lakh, you would need to finance ₹7.09 lakh through a bank loan. Assuming the bank offers you a loan at an interest rate of 9% for a tenure of 7 years, the monthly EMI for the Honda Amaze V would be ₹11,410.
Let’s break down the math:
- Ex-showroom price of Honda Amaze V: ₹8.10 lakh
- On-road price (including taxes and insurance): ₹9.09 lakh
- Down payment made: ₹2 lakh
- Amount to be financed through the bank loan: ₹7.09 lakh
- Interest rate: 9% per annum
- Loan tenure: 7 years (84 months)
- Monthly EMI: ₹11,410
Thus, the EMI of ₹11,410 will need to be paid every month for the next 7 years.
Total Cost of the Honda Amaze V Over Seven Years
If you choose to finance ₹7.09 lakh through a bank loan at an interest rate of 9% for a tenure of 7 years, you will end up paying ₹11,410 every month. Over the course of the seven-year loan tenure, you will pay a total of ₹9,58,440 in EMIs.
However, there is an additional cost to consider: the interest paid over the course of the loan. The total interest you will pay over seven years is ₹2.49 lakh. This means that, in total, the cost of the Honda Amaze V, when factoring in the on-road price and the interest amount, will be approximately ₹11.58 lakh.
Here is a breakdown of the total cost:
- Ex-showroom price of Honda Amaze V: ₹8.10 lakh
- On-road price (including taxes and insurance): ₹9.09 lakh
- Interest paid over seven years: ₹2.49 lakh
- Total cost of the car (on-road price + interest): ₹11.58 lakh
Competition in the Compact Sedan Segment
The Honda Amaze is positioned in the compact sedan segment, where it faces competition from other popular models in the same category. The direct competitors to the Honda Amaze V include:
- Maruti Dzire: Known for its fuel efficiency and overall value for money.
- Tata Tigor: A stylish and well-equipped sedan with a strong emphasis on safety.
- Hyundai Aura: Offers a modern design with advanced features and a powerful engine.
In addition to direct competition from compact sedans, the Honda Amaze also faces indirect competition from compact SUVs in the same price range, including:
- Maruti Brezza: A popular subcompact SUV with great features and high demand in the Indian market.
- Hyundai Venue: Known for its modern features and design, this compact SUV offers a premium driving experience.
- Tata Nexon: A compact SUV that offers great performance and is considered a safe option in the segment.
- Kia Seltos: A stylish and feature-packed SUV that appeals to those looking for a premium driving experience.
- Kia Sonet: A compact SUV that delivers a balanced combination of style, features, and performance.
Features of Honda Amaze V
The Honda Amaze V offers several key features, making it a solid contender in the compact sedan category. Below are some of the features that make the Amaze V stand out:
- Design and Build: The Amaze V has a modern, stylish design with sharp lines and a premium look. The exterior design has been updated in the facelift model, offering a sleek and dynamic appearance.
- Interior and Comfort: The Honda Amaze V is designed with comfort in mind, offering spacious interiors, high-quality materials, and a well-thought-out dashboard layout. The car provides ample legroom and headroom, making it suitable for long drives.
- Infotainment System: The car features a 7-inch touchscreen infotainment system with Apple CarPlay and Android Auto compatibility, offering seamless connectivity with your smartphone.
- Engine Performance: The Honda Amaze V is equipped with a fuel-efficient 1.2L petrol engine, offering smooth performance and good mileage. It is available in both manual and CVT automatic transmission options.
- Safety Features: Honda has equipped the Amaze V with essential safety features such as dual airbags, ABS with EBD, rear parking sensors, and a rearview camera to ensure the safety of passengers.
- Fuel Efficiency: The Amaze V is known for its fuel efficiency, with the petrol variant delivering impressive mileage, making it an ideal option for those seeking a cost-effective daily commuter car.
The Honda Amaze V is an attractive option for buyers in the compact sedan segment, offering a blend of style, performance, and comfort at a competitive price. With the current EMI offers and easy financing options, this car becomes an affordable choice for many buyers looking for a reliable, long-term vehicle.
The on-road price, coupled with the EMI scheme and interest payments, makes the Honda Amaze V a good value proposition in the market. It directly competes with models like the Maruti Dzire, Tata Tigor, and Hyundai Aura, while also facing competition from compact SUVs like the Maruti Brezza and Hyundai Venue. Depending on your preferences, budget, and requirements, the Honda Amaze V can be a smart choice in the compact sedan segment.
