Travel woes – people relying on public transport for commuting are extremely familiar with this feeling. Squeezing yourself into a crowded bus or arguing with a rowdy cabbie to settle for the right fare, is enough to ruin a perfect day. Not only is buying a car a solution to all your problems, but it also comes with the special joy of owning an asset. But is your dream of buying a car taking a backseat because the thought of financing it by applying for a car loan intimidates you? For those who swear by the impeccable quality of cars manufactured by Tata, Tata Motors Finance Limited offers car loan schemes for financing entire range of passenger cars and commercial vehicles, manufactured by the company (Tata).
Tata Motors Finance Limited was established in 1957, and is a subsidiary company of Tata Motors Ltd. One of the leading car financing companies and the largest automobile manufacturer in India, it helps people realise their dream of owning a Tata vehicle. The car loan schemes offered are tailor-made to suit the varied needs of every customer. Flexible payment options, simple documentation process, quick loan disbursal and many such convenient features make the company a very popular choice amongst millions to finance their Tata cars.
To avail finance for any commercial and personal Tata vehicle, the applicant needs to fulfil the following criteria –
To maximise benefits for its customers, Tata Finance offers car loans at affordable and competitive rates of interest. A determining factor in arriving at a rate of interest is individual specifications, which varies from one customer to another. The lending rates are also dependent on other factors like cost of funds, risk inherent to financing business, cost of operation, loan to value ratio, repayment tenure, geography, and usage of vehicle. Tata Motors finance ensures that you get the best deal at the time of availing the loan. One can avail a loan of up to 60% of the cost of the car, from Tata Finance, at practical rates of interest. To attain more clarity on the same, please refer to the company’s website or contact any customer care representative.
Owing to the varied demographics and socio-economic background of India, every individual has different needs/requirements and cars are no exception. Tata Motors understands this and manufactures a wide variety of cars ranging from sedans, SUVs and hatchbacks. At Tata Motors Finance you can avail a loan for buying passenger cars and commercial vehicles manufactured by the company. Tata is a proud manufacturer of cars like –
You can apply for a loan online on the company’s official website. Alternatively, you can also SMS, email or call on the toll free number of the company (please refer to the official portal for more details on this), or visit the nearest Tata Motors Finance Ltd branch.
The interest rates are dependent on various factors like cost of operation, cost of funds, risk of financing business, loan to value ratio, repayment tenure, location and usage of the vehicle.
The repayment tenures can range from 12 to 60 months. Maximum tenure for commercial usage is 48 months. The applicant can submit auto debit / ECS mandates or post-dated cheques for monthly EMIs.
If your application is duly filled and substantiated with all the required documents, the loan generally gets sanctioned in 48 hours.
Yes, there is an option of pre-closing a loan by making a full payment of the loan amount. Part payments are not accepted by the company. Pre-closure charges are applicable as per the rules of the company.
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