If you are looking for a budget car under ₹5 lakhs that fulfils your needs, then you have come to the right place. In this article, we will be discussing the best affordable cars under ₹5 lakhs in India. Also, do remember that buying a car on a budget doesn’t mean compromising on quality or style. Because there are several cars that offer a great experience on a budget. You can also avail an easy car loan and have flexible repayment options so that the loan doesn’t burden you with financial worries. So, here we go.
List of Top Cars Under ₹5 Lakhs
1. Maruti Alto K10 – Starting at ₹3.99 lakhs (Ex-showroom price)
The Maruti Alto K10 is a popular choice for those looking for a reliable and efficient car to ride around a city. Priced under ₹5 lakhs, it is a budget-friendly option where you don’t have to sacrifice performance. The car boasts a 1.0-litre K-series engine that provides a good balance of power and fuel efficiency. Its compact design makes passing through crowded city streets a breeze. Though the interior is simple and functional, it certainly offers comfortable seating and quite a user-friendly dashboard. So, if you are looking for an economical ride for your daily commuting to the office or for city rides, the Maruti Alto K10 is a perfect choice.
2. Renault Kwid – Starting at ₹4.70 lakhs (Ex-showroom price)
If you are looking for an option with a better design, then you can go with the Renault Kwid, one of the best budget cars in India. Renault Kwid is known for its SUV-inspired design and feature-rich offerings. Its striking appearance with a bold front grill and rugged body cladding is what sets it apart in the budget segment. The Kwid also comes with a touchscreen infotainment system which definitely adds a touch of modernity to its interior. Due to its compact size, you can park your vehicle even in tight spots. This makes it suitable for urban dwellers.
3. Maruti S-Presso – Starting at ₹4.26 lakhs (Ex-showroom price)
Quite a popular compact car that you can easily find on Indian roads, the Maruti S-Presso is one of the best affordable cars under ₹5 Lakhs and is designed to cater to the demands of the modern driver. As the design of the car is a bit quirky, it stands out in the crowd. The S-Presso is also equipped with a 1.0-litre engine and hence, it delivers a good mix of performance and fuel efficiency. The cabin is also spacious and well-designed for a small family, providing a comfortable experience. Its advanced safety features such as dual airbags and ABS make it a reliable option for those who prioritise safety.
4. Bajaj Qute – Starting at ₹3.61 lakhs (Ex-showroom price)
One of the best budget-friendly car options, if you are looking for a personal vehicle for small city rides, is the Bajaj Qute. Priced competitively, the Bajaj Qute is a compact vehicle that helps you navigate through traffic effortlessly and is also easy to park. Take it anywhere in the city and you would have a great driving experience. Though it is not as powerful as others on the list, it definitely stands out in the crowd due to its affordable price and unique design. The car is powered by a fuel-efficient engine, making it an economical choice for daily use. Though it does not offer the same features as traditional cars, its simplicity and low operating costs make it a practical option for short-distance travel.
Also Read:Accelerate Your Car Purchase with the Right Loan
5. Maruti Alto 800 Tour – Starting at ₹4.20 lakhs (Ex-showroom price)
A variant of the Maruti Alto 800, which is one of the most popular cars in India, the Maruti Alto 800 Tour is specifically designed for commercial use. It has a fuel-efficient engine and hence, is quite low-maintenance with low running costs. You can easily manoeuvre through congested streets in this car and that’s one of the reasons it is often an ideal choice for taxi services and delivery purposes. If you are looking for a budget-friendly vehicle for business use, the Maruti Alto 800 Tour can be a choice for you. No wonder it is one of the best-value cars in India.
6. Maruti Celerio – Starting at ₹4.99 lakhs (Ex-showroom price)
Another great option for you under ₹5 lakh, the Maruti Celerio is one of the best budget cards in India offering a modern design and advanced features. The Celerio come with a 1.0-litre DualJet engine that delivers excellent fuel efficiency and a smooth driving experience. If you are looking for a car to drive in cities and towns with Auto Gear Shift (AGS) technology, then this is your calling. The car boasts a spacious and stylish cabin with a user-friendly infotainment system and comfortable seating. So, you have quite a music system and cosy rides to enjoy. It also includes essential safety features like dual airbags, ABS with EBD, and a high-speed alert system.
7. PMV EaS E – Starting at ₹4.79 lakhs (Ex-showroom price)
Another one in the list of top cars under ₹5 lakhs, the PMV EaS E is a compact electric vehicle (EV) known for its affordability and eco-friendliness. If you are fond of EV cars on a budget, then PMV EaS E should be a solid choice for you. This EV is designed for short-distance travel and city commuting as it offers a range of up to 200 km on a single charge. This also makes it quite an economical option for daily use. Due to its small size, you can easily drive this car in crowded areas. The car features a modern interior with basic amenities and a digital instrument cluster. Though it does not have the same power as conventional cars, its zero-emission footprint and low running costs make it an attractive option in India.
Factors to Consider When Buying a Car Under ₹5 Lakhs
- Fuel Efficiency: Check out the mileage of the car so that you can save on fuel costs.
- Maintenance Costs: If you are budget-conscious, then you must always choose a car with low maintenance.
- Resale Value: The resale value of the car should also be good if you plan to sell it in the future.
- Safety Features: Make sure the car has basic safety features like airbags and ABS.
- Space and Comfort: If you have a family, then check the space and comfort level of the car.
How a Personal Loan Can Help You Finance Your Car
You can also avail a personal car loan if you don’t have sufficient funds to purchase your budget car. A car loan is helpful as it allows you to fulfil your dreams without compelling you to spend your savings. Moreover, you can decide on your loan tenure and set your monthly instalments as per your financial convenience to reduce any financial burden. More often than not, you have fixed interest rates on these personal car loans and hence, you do not need to worry about fluctuations in the EMI amount over time. Even if you wish to purchase a car for commercial purposes, you can avail these personal loans with minimal documentation.
Also Read : 5 Tips to Purchase and Maintain a Brand New Car
Conclusion
So, these are the top 7 affordable cars under ₹5 lakhs in India. Consider the above-mentioned factors and buy a car accordingly. If you are short on cash and looking to finance your purchase, then explore CASHe loan options.
With CASHe, you can secure a car loan of up to ₹4 lakhs without providing any collateral. Also, you have EMI plans ranging from 90 days to 540 days. So, what are you waiting for? Apply for a car loan right away to purchase your dream car.
FAQs
1. What is the most fuel-efficient car under ₹5 lakhs?
The Maruti Alto K10 is known for its excellent fuel efficiency, providing an average of 24-25kmpl.
2. Which car has the best resale value under ₹5 lakhs?
The Maruti Alto 800 Tour usually offers the best resale value due to its popularity and demand.
3. Are there any new models expected to launch under ₹5 lakhs?
Yes, car manufacturers like Maruti often introduce new models. So, you must keep an eye on upcoming releases if you are looking for new models.
4. What safety features should I expect in a car under ₹5 lakhs?
Cars on a budget must have basic safety features like dual airbags, ABS, seatbelt reminders, great build quality, and more.
5. How do I finance a car purchase under ₹5 lakhs?
You can finance your car purchase through CASHe car loans. Download the CASHe app and avail competitive car loans at interest rates with flexible EMI options.
