KTM 160 Duke: EMI Buying Guide
If you have been thinking on getting the KTM 160 Duke on loan, this EMI guide will help you make a right decision
The baby Duke has now become more affordable than ever thanks to GST 2.0. The bike is now priced at Rs 1,70,548 (ex-showroom, Delhi). The KTM 160 Duke has become more appealing now, and with the festive season around the corner, it’s a good time to buy one. If you are planning to buy one on loan, here’s how much EMI you will have to pay, based on 3 different tenures, with a downpayment of Rs 20,000:
18 Months Loan Tenure
At an interest rate of 9.7 percent, you will have to pay Rs 10,785 as EMI if you’re taking a 18-month EMI scheme. The interest rate in this case comes to Rs 14,132 and the total amount payable is Rs 1,94,130. While the EMI seems a bit high here, the shorter tenure will mean a lower interest payout when buying the KTM 160 Duke.
2-Year Loan Tenure
If you’re looking for a slightly lower EMI, you can consider getting a 2-year loan. Under this scheme, you will be paying Rs 8,281 as EMI, which is Rs 2,504 lesser than the 18-month loan scheme. You will be paying Rs 1,98,744 as the total amount, with Rs 18,746 as interest. The interest is higher than what you would be paying with the 18-month loan scheme.
3-Year Loan Tenure
This scheme offers the lowest EMI, at Rs 5,783, which you will be paying for 36 months. Although this scheme offers the lowest EMI, the total amount that has to be paid is quite high coming in at Rs 2,08,188. The interest is also significantly higher coming in at Rs 28,190. Compared to the 2-year scheme, the EMI will be Rs 2,498 lesser, but the final interest will be Rs 9,444 higher.
BikeDekhoSays
Buying a bike on loan is a good way to reduce the load of upfront payment, but it comes with varying levels of interest. For the calculations above, we have used an average down payment and interest rates. Real-world rates that you might get will depend on a variety of different factors – mainly your credit score. You should get in touch with the nearest dealer for specific loan details depending on your credit standing for a more accurate idea. Our EMI calculator can give you more details with different EMI, interest rates, and loan tenures. You can check it out to get a more comprehensive idea if you are thinking of buying the KTM 160 Duke on loan.
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