A number of auto manufacturers such as Tata, Maruti Suzuki, Mercedes-Benz, and Jeep are offering very attractive financial programmes to customers. This step would help potential buyers make a decision towards the company during these financially testing times.
Tata Motors are offering wallet-friendly offers on their Tiago, Harrier, and Nexon models with low EMIs and 100 per cent funding. The Tata Tiago is a sporty-styled hatchback which boasts a four-star Global NCAP safety rating, due to dual-airbags, ABS, rearview camera, and more. Fitted with the BS-VI compliant Revtron 1.2-litre engine that makes 86 hp and 113 Nm of torque. The car also comes stocked with features such as the seven-inch Connect Next, Harman eight-speaker infotainment system, fully automatic climate control, a digital instrument cluster, and a lot more. The car is currently priced starting at Rs 4.60 lakh ex-showroom for the Tiago XE variant, and now Tata are offering a Rs 4,999 EMI scheme that caters to the current situation.
Tata are also offering 100 per cent funding on two other variants, the Harrier and the Nexon. The Nexon is Tata’s mini-SUV that is focused on being a safe and comfortable option in its segment. Once again the car is feature-packed with all the goodies one can expect for the segment. The Tata Nexon is powered by either a 1.2-litre petrol that makes 120 hp and 170 Nm of torque, or a 1.5-litre diesel engine that makes 110 hp and 260 Nm of torque. Prices start at Rs 6.95 lakh ex-showroom for the petrol Nexon XE and Rs 8.45 lakh ex-showroom for the diesel Nexon XE.
Tata’s flagship vehicle is the Harrier that sports a very modern design and equally exhilarating performance. Once again, safety and comfort are highlighted albeit with performance thrown into the mix. Built on Tata’s Optimal Modular Efficient Global Advanced Architecture (OMEGA) which has been derived from the Land Rover D8 platform, makes the Harrier, Tata’s most advanced vehicle yet. The Tata Harrier sports a BS-VI compliant Kryotec 2.0-litre turbocharged diesel engine that makes 170 hp and 350 Nm of torque. Prices for the Harrier start at Rs 13.69 lakh ex-showroom for the Harrier XE variant.
All three are good choices for those in the market and coupled with the low EMI payment scheme for the Tiago, and the 100 per cent funding for the Nexon and Harrier, does shine Tata’s light to consumers. We shall keep you updated with further news on this topic.
Maruti Suzuki, in turn, have penned an understanding with ICICI Bank for easing EMI’s to potential buyers during this tough period. An example of this would be the Rs 899 EMI payment per month for a loan of Rs 1-lakh. However, this ultra-low monthly payment will be for the first three months after which there will be a higher monthly payment. Either way this is a much sought after relief for the manufacturer as the current financial conditions have been creating a fair bit of heartburn for companies and customers alike.
German auto manufacturer, Mercedes-Benz, have also jumped onto the bandwagon with a number of their own options available. Available on certain models such as the Mercedes-Benz C Class, E Class and the GLC SUV, customers can look forward to low Rs 1,400 EMI monthly payments for the first three months or the drive more, pay less option which covers low EMI payments for the first six months returning to regular amounts after. In addition, Mercedes-Benz also offers a 10-year loan tenure, with a buy-back or refinance availability after five years.
The Americans, will not be left out either with Jeep offering financial packages as well, part of their ‘Jeep for All’ programme. These packages include a package for women, who can opt to buy a Jeep SUV with a seven-year loan tenure and 100 per cent funding available. In addition, we also see low EMI monthly amount catered to rope in buyers of their famed products. Jeep’s low EMI system allows buyers to choose which three months in the year they choose to avail the low EMI payments and additionally customers will get three months low EMI’s for every year of their loan tenure.
