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Tata Motors announces new car finance schemes in India. The company partners with IndusInd Bank to introduce low EMI options, longer loan tenure and a host of other attractive and easy finance schemes.
The company has been partnering with banks to provide hassle-free finance offers to its customers. The latest partnership offers the Step Up scheme, with a special low EMI options scheme for the first 3-6 months.
Under the Step Up scheme, customers can now avail EMI options lowered by 60 per cent, that are starting from as low as Rs 834 per lakh per month, depending on the scheme and the products. The EMI payments will remain lower for a period of 3-6 months depending on the chosen scheme.
Additionally, the offers will be provided with non-income proof funding and flexible tenure options ranging from 1 to 7 years depending on the product and variant.
Customers choosing to purchase the Harrier, Safari or the Tigor gets a loan to value (LTV) of up to 85 per cent on the ex-showroom price. On the other hand, customers buying the Tiago, Nexon or the Altroz are eligible to get an LTV of 90 per cent on the ex-showroom price.
Mr Ramesh Dorairajan, Head Network Management and Trade Finance, Passenger Vehicles Business Unit, said, "We, at Tata Motors, have always been committed to supporting our customers at all times. The recent Covid-19 upsurge has impacted everyone and to help our passenger car family in these challenging moments, we are delighted to be partnering with IndusInd Bank to roll out special finance schemes."
He further added, "This is in alignment with our constant effort to fast track the availability of safe personal mobility solutions to individuals and families at pocket-friendly rates. We hope that these offers will boost customer morale and make the process of purchasing a car more convenient."
Mr T.A. Rajagoppalan, Executive Vice President, Passenger Vehicles, IndusInd Bank said, "At IndusInd, we believe in staying agile and responding to customer needs in keeping with emerging demand indicators. These innovative financial schemes aim at not only reducing the burden on the customer's wallet during these tough times but also allow them to prioritize commute in a hygienic, safe and comfortable environment. We take pride in joining hands with Tata Motors to roll out these schemes."
Customers can avail of the finance schemes and book the car online via the brand's 'Click to Drive' platform. Customers can also enquire, and request a test drive of cars as well online via the same platform.
Thoughts About Tata Motors Introducing New Car Finance Schemes
Attractive finance schemes play a huge role in new car purchases as a good offer can lower the up-front cost and initial commitment by a huge margin. The new finance schemes introduced by Tata Motors provides low EMI and a longer repayment period to ease the burden on the purchase of a new car.