Best Car Under 5 Lakh in India - 2024

Thinking of buying a four wheeler under Rs.5 Lakh? There are a lot of options for cars in that price range. Read ahead to choose the one that fits your needs.

List of Four Wheeler Under Rs.5 Lakh in India [Updated]

If you have a small family, getting a small car is a great idea. That way you can save money while purchasing it and also on maintenance and repairs.

Here is a list of the top seven cars under Rs.5 Lakh - 

Cars Between Rs.3 Lakh to Rs.5 Lakh in India

You have a wide range of cars, including some electric cars, to choose from in this price range. Please note that the prices are mentioned according to showroom prices in New Delhi, and might slightly vary in your city.

Let us look at each of these cars under Rs.5 Lakh and their specifications - 

1. Maruti Alto K10

This is one of the cars under Rs.5 Lakh in India which is a 5 seater. It will be a perfect companion for a small or medium family. It's a petrol-run vehicle and has a decent tank capacity of 27l, ideal for your family's long drives. 

Some other major specifications of the Maruti Alto K10 are -

• Price: Rs.3,99,000
• Mileage: 24.39 kmpl 
• Engine capacity: 998 cc
• Engine Type: K10C
• Gears: 5 speeds

2. Maruti Alto 800

From the price point, the Maruti Alto 800 is the best car under Rs.5 Lakh in India. It is a 5-seater and has a bigger fuel tank capacity of 35l. If you like taking trips with your friends and family in your car, this would be a good choice for you.

The most important specifications of this model are listed below -

• Price: Rs.3,54,000
• Mileage: 22.05 kmpl
• Engine capacity: 796 cc
• Engine Type: F8D Petrol Engine
• Gears: 5 speeds

3. Renault KWID

The Renault KWID is one of the higher-range cars in this budget, but it can still be considered if you are looking for a four-wheeler under Rs.5 Lakh. Its specifications are very similar to the Maruti Alto K10. 

It’s a 5-seater vehicle with a fuel tank capacity of 28l making it a good choice for intercity road trips. Other major specifications of this car are -

• Price: Starting from Rs.4,69,500
• Mileage: 21.46 kmpl 
• Engine capacity: 990 cc
• Engine Type: 0.8 SCe
• Gears: 5 speeds

4. Bajaj Qute (RE60)

The Bajaj Qute (RE60) is a compact 4-seater vehicle perfect for daily commuting. It runs on petrol and has a small fuel tank capacity of just 8l. So, if you need a car for intracity travels, this is a small car in India under Rs.5 Lakh that has good mileage.

Here are the other important facts about the Bajaj Qute (RE60) - 

• Price: Rs.3,61,000
• Mileage: 21.7 kmpl 
• Engine Capacity: 216 cc
• Engine Type: DTSi engine
• Gears: 5 speeds

5. Strom Motors R3

This is an electric vehicle which can be your new car under Rs.5 Lakh. It will be perfect if you want to buy it for your personal use within the city, as it is just a 2 seater. This might also be the perfect choice if you like taking solo trips in your four wheeler. 

Out of the two electric vehicles on this list, this is the better option from the price point.

Let’s take a look at the specifications of this electric car - 

• Price: Rs.4,50,000
• Maximum Power: 20.11bhp
• Charging Time: 3 hrs

6. PMV EaS-E

The PMV EaS-E is the only other electric vehicle if you want a four-wheeler under Rs.5 Lakh. It is also a 2-seater vehicle perfect for your daily intracity commutes. But if you have a big family, this might not be the perfect choice.

Some major characteristics of this vehicle are - 

• Price: Rs.4,79,000
• Maximum Power: 13.41bhp
• Charging Time: 4 hrs

7. Maruti S-Presso Std

The Maruti S-Presso Std is the third vehicle from Maruti Suzuki if you want a new car under Rs.5 Lakh in India. It is a 5-seater vehicle which is a perfect choice for you in case you have a medium-sized family. 

The fuel tank capacity is 27l making it great for short road trips with your family and friends. Other specifications of this vehicle are -

• Price: Rs. 4,27,000
• Mileage: 24.4 kmpl
• Engine Capacity: 998 cc
• Engine Type: K10C
• Gears: 5 speeds

Eligibility Criteria and Documents Required for Personal Loans

If you are in a cash crunch and wondering where to take a loan from, you can consider the Moneyview digital lending app. The eligibility criteria for applying for a personal loan from Moneyview are very inclusive:

• Your age must be between 21 and 57
• If you are salaried or self-employed, your minimum in-hand income must be Rs.25,000
• You should have a minimum CIBIL score of 650

You just need three documents to apply for a loan through Moneyview - 

• Identity Proof
• Address Proof
• Income Proof

Conclusion

There are many cars to choose from if you are looking for a four wheeler under Rs.5 Lakh in India. Two of these are electric vehicles which are environment friendly and good for regular commutes inside the city.

Others are all 4 or 5 seater petrol run cars which are a great choice for small and medium-sized families. You can go through the specifications and opt for test drives before you choose your four-wheeled road companion.

Getting a loan for a new car under Rs.5 Lakh is easy from any bank, as most banks have vehicle loans. But if you are hesitant about taking a vehicle loan or cannot get a loan from a bank, you can opt for an instant personal loan from Moneyview.

To know more, you can visit our website or download the Moneyview app.