Tata Motors has introduced a special finance scheme, offering customers a six-month moratorium on their EMIs. So, customers who buy a new Tata Tiago, Nexon or Altroz can now make zero down payment, avail a 6-month EMI holiday (only interest needs to be serviced monthly) and avail up to 100 per cent on-road funding on the car for a loan tenure of 5-years. The offer is only available for the aforementioned three models, and not for the Tigor subcompact sedan, or even the Harrier.
Additionally, Tata Motors is also offering affordable, step-up EMIs on long tenure loans of up to 8-years through its association with multiple financing partners. Under this long-term loan scheme, the Tata Tiago is now available for a starting EMI of ₹ 4,999, while the Altroz premium hatchback and the Nexon subcompact SUV will be available for EMIs starting at ₹ 5,555 and ₹ 7499, respectively.
With the coronavirus pandemic, social distancing has become the need of the hour, and Tata Motors, like many other automakers, believe that this will help boost car sales as more and more people start adopting personal mobility options. And with these finance schemes, the company is aiming to make new car purchases more accessible and affordable to its customers.
Earlier in May, Tata Motors had launched a similar finance package called 'Keys to Safety' which included easy financing, affordable EMIs with long tenure loans, and special offers for frontline warriors like - doctors, healthcare professionals, essential service providers and police. In addition to 100 per cent on-road funding and long tenure EMI schemes, the company had also announced special benefits of up to ₹ 45,000 on all models (except for Tata Altroz) to COVID-19 frontline warriors.