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Tata Motors offers easy financing option, special benefits for doctors, policemen

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Business Finance

Press Trust of India  |  Mumbai 

Tata Motors on Monday announced a package of offers for safe and convenient personal mobility with easy financing, to help maintain social distancing norms amid the nationwide lockdown.

Under the package, with features such as affordable EMIs with long-tenure loans and special offers for frontline warriors, customers can drive home the entry-level model Tiago with customised EMI plan starting at just Rs 5,000 every month (for a loan of Rs 5 lakh) for 6 months. This EMI amount then gradually increases over a maximum tenure of 5 years, the company said.

Also, on its entire range of cars and sports utility vehicles, the company is offering 100 per cent on-road funding, Tata Motors said in a release.

"In the current times, with safety as the top priority, customers are seeking personal mobility options that are affordable and convenient to avail. Accordingly, we have designed this package to offer choice and enhance their entire experience of owning and driving our entire range of cars and SUVs," said Vivek Srivatsa, marketing head (passenger vehicles business unit), Tata Motors.

As an additional benefit, customers can choose from three value-adding options while paying their final EMI, the company said.

The options include paying their last bullet EMI in full (about Rs 90,000 on loan of Rs 5 lakh) and take full ownership of the vehicle or return the vehicle to financing partner, Tata Motors Finance, in case of any financial difficulty.

The customer, as a third option, can also choose to refinance the final EMI, it said adding that he can also take advantage from the long-tenure EMI schemes (up to eight years), thereby lowering the amount of their monthly EMI payment.

Special benefits of up to Rs 45,000 are being offered on the company's cars and SUVs (except the Altroz) to frontline warriors, including doctors, healthcare professionals, essential service providers and police, Tata Motors said in the release.

Customers can enquire, request a test drive, make bookings and select their preferred financing option via the recently launched end-to-end online platform from the comfort and safety of their homes or call the nearest dealer, the release stated.

Over 270 showrooms and 318 workshops are already operational with a new set of standard operating procedures (SOPs) for enhanced safety with minimal interactions and maintaining prudent social distance norms during the purchase process, it said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 18 2020. 20:18 IST
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