Other than offering discounts on many models, Tata Motors is offering attractive finance schemes on select models like the Tiago, which is available with attractive EMI options
April 2020 turned out to be a total disaster for the entire automotive industry as every carmaker had to shut shop for the entire month. Last month, however, sales started picking up as the carmakers resumed business through some of their dealerships. Tata Motors, the homegrown carmaker, has sold 3,152 units in May 2020, which isn’t all that bad if you consider that Maruti Suzuki, the undisputed leader of the car market, could sell just about 18,000 units against the 1.25 Lakh unit a year before.
While the complete model-wise sales split up is yet to arrive, we can tell you that the carmaker has been enjoying a pretty good demand for the recently launched Altroz as it beats Nexon & Tiago. Tata dispatched 1,379 units of Altroz against the 857 units of Tiago facelift and 623 of Nexon facelift. The updated Harrier has also found a pretty good following and with the recent set of updates, even the Tigor now comes across as a pretty decent option.
In order to regain a strong sales momentum, the carmaker is not only offering some decent discount but has even come up with some attractive finance schemes to ensure people don’t shy away from buying a car during these turbulent times.
The Tata Tiago, for example, is being sold with some attractive finance schemes with a lowest EMI of Rs. 4,999. Well, what this scheme offers is a very low EMI for the first year and the amount increases as the years pass by. This offer is available on all the variants but as you would have guessed, the aforementioned EMI is for the entry-level model.
The base-spec XE variant of the Tata Tiago has been priced at Rs. 4.60 lakh (ex-showroom), while its on-road price turns out to be Rs. 5.56 lakh. Tata Motors can provide 90 per cent of it through finance, which brings down the amount to Rs 4.99 lakh.
On the loan amount of Rs 4.99 lakh, the company will charge an EMI of Rs. 4,999 for the first 6 months only. After that, the EMI will become Rs. 7,998, after which the EMI will become Rs. 10,998. The last EMI will be Rs. 89,932. The finance plan is for 5 years.