Get a 7-Seater Family Car A headline-grabbing finance plan now lets Indian buyers drive home a brand-new seven-seat MPV for an up-front cost that is lower than many smartphones. Select dealers in metro cities are advertising a down payment of just ₹60,000 on entry-level models such as the Renault Triber, followed by easy instalments of roughly ₹8,500 per month for five years. The offer targets young families who need three rows of seats but have been priced out of the segment until now. Sales managers say foot traffic has jumped since the scheme began earlier this week.
Which cars qualify under the scheme
The low-cash option is limited to budget MPVs whose sticker prices sit well below the ₹10-lakh mark. The Triber remains the country’s most affordable seven-seater, with an ex-showroom tag of ₹6.30 lakh. Dealers are also extending the plan to the base Maruti Ertiga (₹9.12 lakh) and the Bolero Neo (₹9.97 lakh), though the initial payment and EMI rise slightly for those models. All three get dual-airbags, ABS and rear parking sensors as standard, making them viable family movers without costly extras.
Table 1: Cars offered on the ₹60k plan
| Model | Ex-showroom price (₹ lakh) | Typical down payment (₹) | EMI (5 yr, 9%)* |
|---|---|---|---|
| Renault Triber RxE | 6.30 | 60,000 | 8,500 |
| Maruti Ertiga LXi | 9.12 | 95,000 | 12,600 |
| Mahindra Bolero Neo N4 | 9.97 | 1,05,000 | 13,700 |
*EMI figures include registration and insurance rolled into the loan.
How the math works
Finance executives explain that banks are funding up to 95 percent of the on-road price for the Triber, treating the ₹60,000 as a token equity to reduce default risk. At 9 percent interest over 60 months, the loan amount of roughly ₹5.9 lakh converts to an EMI near ₹8,500. Buyers must show a minimum net salary of ₹25,000 and maintain a CIBIL score above 700. The plan bundles warranty, roadside assistance and a one-year zero-depreciation insurance policy, keeping early expenses low.
Table 2: Cost of ownership in year one (Renault Triber example)
| Expense head | Approx amount (₹) |
|---|---|
| Down payment | 60,000 |
| EMIs (12 × 8,500) | 1,02,000 |
| Fuel (12,000 km at 18 km/l, ₹100/l) | 66,700 |
| Scheduled service | 6,500 |
| Total first-year outgo | 2,35,200 |
Steps to grab the deal
Interested customers can reserve online, upload PAN, Aadhaar and salary slips, and receive loan approval within 24 hours, according to dealers. After paying the token amount by UPI or card, buyers sign documents at the showroom, and delivery usually happens in three to five days, depending on colour choice. Those trading in an old hatchback can use the exchange value as part or all of the ₹60,000, further easing cash flow.
Things to watch before signing
Experts urge shoppers to read the fine print. A processing fee of up to two percent may apply, and missing an EMI attracts penalties. The ultra-low down payment also means higher interest outgo over the loan term. Customers should confirm insurance coverage beyond year one and budget for accessories such as roof rails or seat covers that are not included in the base price.
Why it matters for families on a budget
With school runs, weekend trips and elder relatives to ferry, a seven-seater offers flexibility that small cars simply cannot match. By slicing the entry cost to ₹60,000 and keeping monthly dues near a typical rent payment, the new plan puts a genuine family car within reach of many first-time buyers. If fuel prices remain steady and owners stick to scheduled service, the numbers suggest the Triber and its rivals can deliver big-car usefulness at small-car running costs—a timely combo for India’s value-hungry households.