Question 1

What will be the lowest down payment for Hornback X1?

Accepted Answer

The lenders generally finance 90% of the value of the . Some customers might be eligible for 100% funding too. The down payment is the difference between the on-road price of the  and the amount funded by a lender. This means the minimum possible down payment that you have to pay for Hornback X1 includes the RTO and insurance charges.

Question 2

What will be the monthly EMI for Hornback X1?

Accepted Answer

EMIs or Equated Monthly Installments refer to the monthly payments you make to the lender to repay your loan. These payments include the principal amount as well as the interest i.e. EMI = Principal Amount + Interest on Principal amount. Mathematically, EMI for Hornback X1 can be calculated using the following formula:
{P x R x (1+R)^N / [(1+R)^N-1]}
where, P = Principal amount of the loan, R = Rate of interest and N = Number of monthly installments.
For Example:- If the principal amount for a bike loan is Rs. ₹43,195/- on an annual rate of interest of 10% for a tenure of 3 years then 
EMI = 43195 * 0.008333*(1+ 0.008333)^36 / ((1+ 0.008333)^36)-1 = Rs 1,388/-
The rate of interest (R) on your loan is calculated monthly i.e. (R= Annual rate of interest/12/100). For instance, if R = 10% per annum, then R= 10%/12 = 0.008333.

Question 3

What will be the interest rate for Hornback X1?

Accepted Answer

The interest rate for Hornback X1 primarily depends on the principal amount and tenure of the loan amount. Interest rate of lenders generally varies from 9.7% per annum to 15% per annum. Customers can also negotiate with the financier for a better rate of interest against their loan amount.

Question 4

What will be the EMI for 3 years tenure for Hornback X1?

Accepted Answer

EMI for Hornback X1 for 3 years tenure can be calculated as per the following formula:-
{P x R x (1+R)^N / [(1+R)^N-1]}
Where, P = Principal amount of the loan, R = Rate of interest, N = Number of monthly installments which will be 36 in case of 3 years tenure.

Question 5

How much time Hornback X1 will take to charge?

Accepted Answer

Hornback X1 will take total 4 Hr to charge from 0-100 percent.

Question 6

What is the range offered by Hornback X1 on a full charge?

Accepted Answer

Hornback X1 offers range of 45 km/charge.

Question 7

Does Hornback X1 need a license?

Accepted Answer

Yes, it is required to have a driving license to drive Hornback X1.

Question 8

What is the top speed of Hornback X1?

Accepted Answer

Top speed of Hornback X1 is 25 km/Hr.

Question 9

What is the battery capacity of Hornback X1?

Accepted Answer

Battery Capacity of Hornback X1 is 0.28 Kwh.

Question 10

What is the max speed of Hornback X1?

Accepted Answer

The max speed of Hornback X1 is 25 km/Hr.

Question 11

What is the driving range of Hornback X1?

Accepted Answer

The driving range of Hornback X1 is 45 km/charge.

Question 12

What is the battery type of Hornback X1?

Accepted Answer

Hornback X1 uses the best Lithium-ion battery.

Questions and Answers on Hornback X1

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