Tatas fast-track finance scheme, get loan for Nano in just 2 days

Friday 17 December 2010, 00:00 AM by Payal Pathak

The country’s largest car maker Tata Motors seems to have decided to go all around to push-up the sales of its small wonder Tata Nano, as the company now has offered a special finance scheme by which a prospective Nano customer can get loan within 48 hours without any down payment.

At present, the company’s financial arm – Tata Motors Finance (TMF) – offers up to 90 percent finance for Tata Nano on low interest rates. TMF is present at all 540 Tata passenger vehicles dealerships, across the country.

The new special finance scheme has added yet another offer in the series of sales boosting measures taken by the company in last few weeks. Last month, the company had offered new additional safety features to all 70,000 Nano owners in the country, after a number of incidents of Tata Nano catching fire raised the safety related worries of Nano’s existing and prospective customers.

Last week, the company had extended the warranty on Nano to 4 years/ 60,000 km in India. Tata Motors said in a statement, “the Tata Nano will now come with a four year/60,000 km (whichever is earlier) manufacturer's warranty, at no extra cost.” The statement adds, “Besides being applicable on new deliveries, the warranty is also being extended to all existing owners of the car.”

In Nov 2010, Tata Nano sales dipped to its all time low to 509 units from the peak of 9,000 units in July 2010, accounting for a sharp fall of over 85 percent.