KATHMANDU: Leapmotor has reduced the price of its B10 crossover SUV by Rs 500,000. The price drop comes after the government revised the tax structure based on vehicle pricing.
With the new price, buyers will need around Rs 200,000 less for the down payment. Monthly EMI has also dropped by about Rs 4,500.
Although the visible reduction is Rs 500,000, customers purchasing through bank financing will benefit more. They can save an additional Rs 78,000 in interest costs over the loan period.
Interest rates are currently at a historic low. Shangrila Motors, the authorized distributor, is offering financing at 5.96 percent interest. Even at this rate, buyers pay significantly less compared to the previous pricing.
Price revision
The B10 SUV was previously priced at Rs 5.999 million. After the revision, the price has been reduced by Rs 500,000.
Earlier, the model attracted 85.09 percent in total taxes, including customs duty, excise duty, road tax, and VAT. With the new tax rule, the total tax has dropped to 70.86 percent.
According to Shangrila Motors, the increasing Chinese Yuan exchange rate limited the price reduction to Rs 500,000.
Down payment impact
With the lower price, the down payment has also reduced. Buyers need to pay 40 percent of the vehicle price as down payment.
Previously, customers had to pay around Rs 2.4 million. Now, the required down payment has dropped to Rs 2.2 million.
Monthly installment
Due to lower interest rates, banks are actively offering vehicle loans. Under Shangrila Motors’ 5.96 percent scheme, the EMI has decreased noticeably.
For an 84-month loan period, the monthly installment was Rs 52,515 earlier. With the revised price, it has dropped to Rs 48,142.
