There is an array of options available in India’s car market, catering to every need and budget. If you are in the market for a new car under Rs. 16 lakh, you are in luck. From compact SUVs to versatile MUVs, there is something for everyone. But buying a car involves more than just picking a model; it is also about smart financial planning. That is where new car loans come in handy, making your dream car more affordable than you might think.
With the help of new car loans, you can spread the cost of your car over a period of time and repay it in small monthly instalments. Bajaj Finance offers new car loans that come with simple car loan eligibility criteria and minimal documents. With Bajaj Finserv New Car Loan, you can get funds of up to 100% of the car’s on-road price and bring home your desired car with ease.
In this guide, we will explore some of the options available under Rs. 16 lakh and how new car loans can help you fund your car purchase.
Here is the list of best cars under Rs. 16 lakh in India
| Model name | *Ex-showroom price (Starting at) |
| Hyundai Creta | Rs. 11 lakh |
| Mahindra Thar | Rs. 11.25 lakh |
| Maruti Suzuki XL6 | Rs. 11 .61 lakh |
| Toyota Urban Cruiser Hyryder | Rs. 11.14 lakh |
*The prices mentioned are ex-showroom prices in Delhi. Prices will vary depending on the city of purchase.
Let us delve into more details about these cars so that you can make an informed choice.
Hyundai Creta
Hyundai Creta offers a blend of style, comfort, and performance, starting at Rs. 11 lakh for the base model – Hyundai Creta E. If you can extend a budget, you can opt for Hyundai Creta DCT SX (O) DT which is priced at Rs. 20.15 lakh. This SUV comes with a ground clearance of 190 mm, perfect for tackling India's diverse roads. Whether you prefer petrol or diesel, the Hyundai Creta delivers impressive mileage ranging from 17.4 kmpl to 21.8 kmpl.
Mahindra Thar
Starting at Rs. 11.25 lakh for the base model Mahindra Thar AX Opt 4-STR Hard Top Diesel. Available in both petrol and diesel versions and delivers an impressive mileage of up to 15.2 kmpl.
Maruti Suzuki XL6
Its base model Maruti Suzuki XL6 Zeta is priced at Rs. 11.61 lakh while the top variant – Maruti Suzuki XL6 Alpha Plus AT comes with a price tag of Rs. 14.61 lakh. Available in both versions – petrol and CNG, it comes with both manual and automatic transmission. The petrol version of this 6-seater MUV delivers an impressive mileage of 20.27 kmpl to 20.97 kmpl, while the CNG version gives a mileage of 26.32km/kg.
Toyota Urban Cruiser Hyryder
Starting at Rs. 11.14 lakh for the base model Toyota Urban Cruiser Hyryder E, this 5-seater SUV offers sophistication and efficiency. With an impressive mileage ranging from 21.12 kmpl to 27.97 kmpl, it is an economical choice.
Why choose Bajaj Mall for your car purchase
You can check out images, features, and other specifications of these cars on Bajaj Mall. Bajaj Mall offers search filters that allow you to find your desired car with ease. You can narrow down your search based on specific criteria such as brand, price, body type and more. Once you finalise your car, you can book it online by using our financing solution. With our new car loans, you can benefit from our flexible repayment tenure options and repay your loan into small monthly instalments. With an easy application process and competitive interest rates, our new car loans make borrowing convenient for you.
Purchasing a new car under Rs. 16 lakh is made simple by the abundance of available options. Additionally, financing your purchase becomes convenient with various financing options like new car loans. New car loans provide you with quick access to funds and allows you to spread the cost of your car over a long period of time.
Note: Mileage figures are as per ARAI certification and may vary based on driving conditions and other factors.
The prices mentioned are ex-showroom prices in Delhi. Prices will vary depending on the city of purchase.
