Buying a Royal Enfield Classic 350: Minimum Down Payment and Financing Options

For aspiring bike enthusiasts looking to own a Royal Enfield Classic 350, understanding the minimum down payment and monthly installment options is crucial. In this article, we delve into the details to help you make an informed decision. Whether you're considering financing through a local dealership or seeking personalized EMI plans, we've got you covered. Let's explore the key details.

Typical Minimum Down Payment and Monthly Installment

The Royal Enfield Classic 350, a popular model in the motorcycle market, typically has a starting ex-showroom price of approximately 1.90 lakh in India. The minimum down payment and monthly installment can vary based on factors like financing options, interest rates, and loan tenure.

Minimum Down Payment

The down payment for a two-wheeler can range from 10% to 30% of the on-road price. For the Classic 350, this translates to:

10% Down Payment: ?19,000 20% Down Payment: ?38,000 30% Down Payment: ?57,000

These figures can fluctuate based on your chosen financing options and specific dealerships. It's always best to verify the exact amounts with a local dealer or financial institution.

Monthly Installment

Assuming a 20% down payment of ?38,000, the remaining loan amount would be ?152,000. This loan can be repaid over a period of 36 months with an estimated annual interest rate of around 9%.

Calculation of Monthly EMI

To estimate the monthly EMI, you can use the following formula:

EMI (P * r * (1 r)^n) / ((1 r)^n - 1)

Where:

P Principal loan amount (?152,000) r Monthly interest rate (annual interest rate / 12 9/12 0.0075) n Loan tenure in months (36 months)

Substituting these values, the approximate EMI can be calculated as around ?4,800 to ?5,000 per month.

Financing Options and Personalized EMI Plans

If you're interested in a tailored bike loan assistance to suit your needs, you can visit Manzil Motors in Gurgaon. Manzil Motors offers precise financing options, minimum down payment offers, and personalized EMI plans that can help you manage your monthly payments more effectively.

Why Choose Manzil Motors?

Manzil Motors is known for providing convenient and personalized bike financing services. They offer:

Affordable EMI plans: Tailored to your budget and payment capabilities. Minimized down payment: Flexible options to suit your financial situation. Quick approval: Fast and hassle-free loan processing.

Whether you're a first-time buyer or a seasoned rider, Manzil Motors can help you secure the finest financing terms for your Royal Enfield Classic 350.

Conclusion

Buying a Royal Enfield Classic 350 involves careful consideration of minimum down payments and monthly installments. By understanding the typical ranges and utilizing personalized financing options, you can make the most informed decision. For precise details and personalized assistance, visit Manzil Motors in Gurgaon or consult your local dealer.