Can You Buy Alto K10 with Loan?
Alto K10 is one of the most famous small cars in India. People love it because it is low price, easy to drive, good mileage, and best for city traffic. Many first-time buyers choose Alto K10.
But not everyone can pay full cash for a car. That’s why people take a loan. If you are planning to buy Alto K10 with a loan, let’s calculate everything in very simple English.
Car Price and Down Payment
The on-road price of Alto K10 in India is around ₹5.5 lakh (average, may change in city).
If you pay ₹30,000 down payment, then your loan will be about ₹5.2 lakh.
EMI for 5 Years
Loan amount = ₹5.2 lakh
Loan time = 5 years (60 months)
Interest = 9–10%
Your EMI will be around ₹11,000 per month.
So first fixed cost = ₹11,000 EMI every month.
Petrol Cost for 100 km
Mileage of Alto K10 = around 22 kmpl
If you drive 100 km per month, petrol needed = about 5 liters
Petrol price in India = ₹105 per liter (average)
So monthly petrol cost = ₹525 only.
This is very less because running is very low.
Service and Maintenance
Small car = small service cost.
Alto K10 service cost = around ₹3,000 per year.
That means only ₹250 per month on average.
Insurance
Every car needs insurance. For Alto K10, yearly insurance is about ₹12,000.
If we divide by 12 months, that is ₹1,000 per month.
Family and House Expenses
Even if your car cost is low, you still need to take care of home.
Kitchen items (rice, dal, milk, vegetables) = ₹7,000–₹8,000
Electricity and water = ₹2,000
Medicines = ₹1,000
Mobile, internet, small bills = ₹1,000
So total family expense = around ₹11,000–₹12,000.
Monthly Expense Total
EMI = ₹11,000
Petrol = ₹525
Service = ₹250
Insurance = ₹1,000
Family needs = ₹11,000
Total = around ₹23,800 per month.
MY HONEST OPINION
Alto K10 is a smart choice for middle-class families. It is affordable, reliable, and gives very good mileage. But remember, loan is a responsibility. Once you take EMI, you must pay every month for 5 years.
If your salary is above ₹30,000 and your family is stable, then yes, you can buy Alto K10 on loan. But if your salary is low, better to save more down payment first.
About the Author
