How Much Monthly Income You Need to Buy Maruti Suzuki Swift on 5-Year EMI
“Mom, I want a Swift, give me money, otherwise I will leave home”, it is better to say “Mom, I will buy Swift on EMI and pay month by month”. This shows responsibility and earns respect.
Now let’s see how much monthly income you should have to buy Swift on 5-year EMI.
Swift Price and Loan Details
Average price of Swift = ₹7,00,000
Downpayment = ₹50,000
Loan amount = ₹6,50,000
Loan tenure = 5 years (60 months)
Interest rate = 10%
The EMI for 5 years comes to around ₹13,800 per month.
Other Monthly Expenses
Buying a car is not just about EMI. You also need to manage daily expenses. Let’s see:
1. Petrol
Swift mileage = 18 km/l
Monthly running = 500–1000 km
Petrol cost approx = ₹5,500 per month
2. Service and Maintenance
Average service cost per year = ₹7,000
Monthly average = ₹600
This includes oil change, minor repairs, etc.
3. Insurance
First-year insurance = ₹20,000
Subsequent years = ₹10,000
Monthly approx = ₹1,000–1,500
4. Home and Family Expenses
Medicines = ₹1,500
Kitchen items (groceries, milk, vegetables) = ₹8,000–10,000
Other family expenses = ₹5,000
5. Personal Life
Mobile recharge, internet, personal care = ₹1,000–1,500
Total Monthly Outflow
Now, let’s add all expenses:
EMI = ₹13,800
Petrol = ₹5,500
Service & Insurance = ₹1,500
Home, medicines, kitchen items = ₹15,000
Personal life = ₹1,500
Total monthly cost = ₹37,300 approx
How Much Monthly Salary You Need
Financial experts say that EMI should not be more than 30–40% of your salary.
EMI = ₹13,800
Total cost including petrol, service, and personal expenses = ₹37,300
So, safe monthly income = ₹60,000 or more.
This ensures that you can pay EMI, fuel, living expenses, and still save money for emergencies.
MY OPINION :- My Personal suggestion is Swift is Your Dream car u can buy in Second hand market u can save Half monthly income, Think Like a GOAT
Conclusion
If you want a Swift and plan to buy on 5-year EMI, here is the simple calculation:
EMI = ₹13,800
Petrol = ₹5,500
Service & insurance = ₹1,500
Home & kitchen items + personal expenses = ₹16,500
Total monthly cost = ₹37,300
About the Author
