Buy A New Tata Car And Pay EMI After 6 Months

The brand is offering 100% on-road financing and zero down payment.

The homegrown automaker is offering a no-EMI for six months offer on its Tiago, Altroz and Nexon. Although Tata Motors has announced that there won’t be any EMI deduction for the first six months on these cars, you need to pay the interest for this period (just like the 3-month Bank EMI moratorium paid during the lockdown). The deal becomes more lucrative with zero down payment and 100 percent on-road financing benefit on these cars.

Tata Motors and Karur Vysya Bank (KVB) have teamed up for this scheme. However, the loan tenure should not exceed five years if you wish to avail this offer.

For buyers looking for a loan of up to 8 years, there is a step-up EMI offer. Under this offer, you need to pay lower installments for the initial period, which will gradually increase with time. The carmaker has kept the equated monthly installment to as low as Rs 4,999 for Tata Tiago and Rs 5,555 for Tata Altroz. The subcompact SUV, Tata Nexon is available for an EMI of Rs 7,499.

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For 5-year loan:

Up to 8-year loan:

To offset the loss in the lockdown period, automakers are coming up with different schemes. Maruti Suzuki, Hyundai and Mahindra have already come up with schemes of three-month EMI waiver but Tata’s six month EMI waiver is a spot-on offer.

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CarBikeIndia Says

The step-up EMIs, 100% on-road financing or zero down payment schemes seem to restrict to only cash-rich individuals as salaried individuals or self-employed with high credibility will be given top priority under this scheme. Moreover, not everyone can afford the step-up EMI option as it may seem lucrative at first. But, the burgeoning amount would be tough to pay off later, especially for a middle-class person with uncertain income.

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