Have a Loan and Fulfill Your Dream of Buying a Mahindra EV?
As India’s EV revolution advances, Mahindra & Mahindra leads its shift to electric vehicles while providing customers with elegant and powerful electric vehicles. More environmentally and tech-focused buyers are able to get Mahindra EVs through improved financing methods.
Your decision depends on selecting an appropriate loan combined with the correct assessment of the model value and knowledge about EV advantages over traditional fuel-powered cars. This guide outlines everything about financing your preferred Mahindra EV and provides specialized tips for selecting the best financing approach. Consult with a personal loan agent for additional help.
Why majority of people choose electric vehicles?
If you go by the trend, you will get to see that most people are now buying electric vehicles. There must be some valid reasons behind this action. Have a look at some of the prominent ones-
Environmental benefits
The adoption of electric vehicles leads to reduced petrol and diesel fuel usage, which directly helps decrease carbon pollution amounts. Switching to electric vehicles produces cleaner air and reduces pollution levels, which helps the environment as well as public health. Selecting electric vehicles offers both fighting climate change and developing sustainable cities.
Running cost is low
The running expenses of electric vehicles amount to Rs. 1.5-2 per km, which falls short of petrol/diesel car operating costs at Rs. 6-8 per km. The simple design of electric vehicles leads to lower maintenance costs because they need less oil maintenance and break less often with components that last longer, thus making them a more economical choice for the future.
Incentives from the government
The FAME II scheme provides subsidy rebates that reach as high as ₹1.5 lakh for EVs since EVs have a 5% GST rate compared to the 28% rate applied to petrol/diesel cars. The elimination of road tax by various states creates substantial price reductions on electric vehicles. The incentives provided by this program reduce ownership expenses dramatically.
Use of advanced tech
EVs provide three main features that give users futuristic benefits through regenerative braking and AI-assisted driving, and smart connectivity options. These vehicles achieve instant smooth acceleration while providing cutting-edge technology in combination with high-quality driving comfort.
Learn about the popular models that you can buy
Mahindra is offering a number of quality Electric vehicles. Take a look at the latest models available in the market-
Mahindra XUV400 EV
The electric SUV delivers an exceptional range of 375 to 456 km according to MIDC standards and comes with a price range from ₹15.99 to ₹19.39 lakh (ex-showroom). This vehicle suits families perfectly because it offers both ample comfort space and premium features such as a 39.4 kWh battery and 150 BHP engine, along with 6 airbags and sunroof, and dual-zone automatic air conditioning.
eKUV100
City commuters will appreciate this affordable EV because of its practical 150-200 km driving range even after charging. The model costs between ₹8-10 lakh (ex-showroom), and its compact dimensions enable quick maneuvering through traffic, together with its fast charging capabilities. An ideal choice for budget-friendly, eco-friendly urban mobility.
eXUV700
The premium EV model, targeting discerning buyers, has an impressive range of 400-500 km as well as an exclusive ex-showroom pricing of ₹25-30 lakh for this exclusive model. This vehicle unites luxury characteristics with sustainability through its implementation of superior ADAS technology and ultra-rapid charging capabilities. The Mahindra official website displays the most recent information about launches and test drives. Check the DSA partner to find the best loan in India.
Ways of choosing the right loan for the electric car you are buying
- Getting the right loan makes the expense of obtaining an EV more manageable because of its high price tag. The lower interest rate range of 8.5-12% exists for banks, including SBI and HDFC, while NBFCs supply faster loan approvals with higher interest rates.
- Special promotions available through dealers include offers such as EMI holidays with low down payments. Demand either fixed-rate loans to see steady EMI amounts, or seek floating rate options because they could reduce your payments.
The duration of most EV loans extends from 5 up to 7 years because longer terms help reduce EMI payments, yet lead to higher total interest accruals. To secure approval for a vehicle loan, banks require candidates to demonstrate a 15–25% down payment that matches a credit score exceeding 750 and presents stable proof of income.
