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Tata Motors offers long tenure loans on cars, low EMI plans starting at Rs 5,000

Tata Motors offers long tenure loans on cars, low EMI plans starting at Rs 5,000

Tata Motors offers long tenure loans on cars, low EMI plans starting at Rs 5,000
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By Alisha Sachdev  May 19, 2020 8:22:15 AM IST (Updated)

Tata Motors said more than 270 of its showrooms and 318 workshops are already operational.

In order to make new car purchases easier on the pockets of buyers, Tata Motors has come up with financing schemes to lower the upfront costs of buying a new vehicle.

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The company is offering EMI plans starting at Rs 5,000 per month, which is for the first six months. The amount then gradually increases over a maximum period of 5 years.
The automaker has also offered loans of up to a tenure of 8 years.
The company will allow customers to pay their last tranche of installments in full to take complete ownership of their vehicle, return the vehicle to Tata Motors Finance in case they find themselves unable to pay for the car, or refinance their final installment.
TaMo is also offering 100% on-road funding for its BS-VI passenger vehicles, except the newly launched premium hatchback Altroz. Last week, Honda Motorcycles and Scooters announced a similar scheme, and more automakers are expected to follow suit.
Moreover, the company has also extended special benefits of up to Rs 45,000 to frontline COVID-19 warriors including doctors, healthcare professionals, essential service providers and the police.
Tata Motors said more than 270 of its showrooms and 318 workshops are already operational, with a new set of SOPs to ensure social distancing during interaction between customers and the dealer staff.
"All discussions are being done virtually using digital tools and any meetings, if necessary, are being conducted with prior appointments and post verification of all requirements. Documents for vehicle insurance and registration are being collected via mail or specially installed drop boxes and vehicle deliveries are being done only after all formalities are completed," Tata Motors said in a press release.
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