Tata Motors has announced a collaboration with one of India’s leading NBFCs, Sundaram Finance to provide finance offers for its passenger vehicle customers.
As part of the partnership with Tata Motors, Sundaram Finance will provide six-year loans on the New Forever range of cars and UVs with 100% financing that will require for minimal down payment. The partnership also has a special ‘Kisan Car Scheme’ with extended and convenient repayment options for farmers. Farmers can repay the loan in instalments once every 6 months, coinciding with their harvest.
Rajan Amba, VP – Sales, Marketing & Customer Care, Passenger Vehicles Business Unit, Tata Motors said, “We are delighted to be partnering with Sundaram Finance to roll out special finance schemes. This is in alignment with our constant effort to fast track the availability of safe personal mobility solutions to individuals and families at pocket friendly rates.”
A N Raju, deputy MD, Sundaram Finance said, “Following the lockdown in several states since April, we are now seeing a recovery in the passenger vehicles segment as endorsed by the sales numbers in July. Also with social distancing, we are observing a rise in the demand for ‘personal transport’ over the last 12 months. Car buyers have been looking for an exciting rollout and the New Forever range fits the bill. Through a lower down-payment model and a lower EMI, we are proactively reaching out to the small business owners and making car ownership more affordable thus paving for a safe travel.”
In addition to the above, Tata Motors recently announced a comprehensive ‘Business Agility Plan' to protect the interests of its customers, dealers and suppliers and supporting ecosystem.