Tata Motors has announced the introduction of a new finance package to boost car sales in India amidst the COVID-19 pandemic. Called as the 'Keys to Safety' the package includes easy financing, affordable EMIs with long tenure loans, and special offers for frontline warriors like - doctors, healthcare professionals, essential service providers and police. Essentially, the company is promoting the idea that if more people adopted personal mobility, it will help maintain norms of social distancing even after the ongoing lockdown lifts nationwide.
Elaborating on the 'Keys to Safety', Vivek Srivatsa Head of Marketing, Tata Motors Passenger Vehicles Business Unit said, "At Tata Motors, we manufacture cars that are proudly Indian with international quality, design and safety. 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."
Under this scheme, the company has announced a special low-cost EMI plan for the Tata Tiago hatchback. Customers who opt for the Tata Tiago can avail a customised EMI plan starting at just ₹ 5,000 every month for six months, for a loan amount up to ₹ 5 Lakh. Post the sixth month, the EMI amount will gradually increase over a maximum tenure of 5 years. Additionally, customer buying the Tiago will also get the option to choose from three value-adding options for paying their final EMI.
- Pay last bullet EMI in full (approximately ₹ 90,000 on loan of ₹ 5 Lakhs) and take full ownership of the vehicle.
- Return the vehicle to financing partner Tata Motors Finance in case of any financial difficulty.
- Choose to refinance this final EMI.
As for the customers who opt for other cars and SUVs in the company's range, Tata Motors is offering 100 per cent on road funding. Also, customers can avail the option to take the long tenure EMI schemes (up to 8 years) thus lowering the amount of their monthly EMI payment. Furthermore, the company will offer special benefits of up to ₹ 45,000 on all models (except for Tata Altroz) to COVID-19 frontline warriors like - doctors, healthcare professionals, essential service providers and police.
Tata Motors has already started selling its cars online. Customers can now book a Tata car on the company's website. Once the booking is made, your preferred dealer will call you to begin the buying process. The sales consultant will guide you through best offers, price quotation, financing option, and even give you an estimate on an old car if you have a car to exchange. And everything will happen online over emails and video calls. Once the process is completed and you get a delivery date, you can either pick up the car from the dealership or get it delivered to your home.