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  • Tata Motor Finance Car Loan

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  • Tata Motor Finance offers financing for the purchase of all types of vehicles such as new passenger vehicles, medium & heavy commercial vehicles, small & light commercial vehicles, and used vehicles manufactured by Tata Motors. The interest rates on these loans are competitive and are based on the customer’s profile. Up to 100% funding is provided by Tata Motor Finance for the purchase of all kinds of vehicles mentioned above.
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    Types of Loans Offered by Tata Motor Finance

    1. Passenger Vehicle Loan
    2. Used Vehicle Loan
    3. Medium & Heavy Commercial Vehicle Loan
    4. Small & Light Commercial Vehicle Loan

    Passenger Vehicle Loan from Tata Motor Finance – Features

    • Can be used to purchase all Tata-made vehicles (sedans, hatchbacks, luxury cars, utility vehicles) and include Jaguar and Land Rovers.
    • The maximum amount of loan that can be availed will be calculated based on the customer’s profile and business proposition.
    • Funding can be availed up to 100% of vehicle’s on-road price.
    • The maximum repayment tenure is 7 years.
    • Repayment can be done as auto-debits through the National Automated Clearing House (NACH) system.
    • Foreclosure option is offered on the loan.

    Used Vehicle Loan from Tata Motor Finance – Features

    • Can be used to buy pre-owned vehicles that are up to 12 years old at the time of loan maturity.
    • The minimum amount of loan that you can avail under this category is Rs.75,000.
    • Tenure can be enhanced to up to 60 months depending on the credit assessment.
    • Tata Motor Finance will offer support for RTO formalities.
    • The loan disbursal process is quick, and the documentation required is minimal.
    • The instalments for the loan can be remitted in any branch of the Tata Motor Finance, through credit or debit card, or through Netbanking.

    Medium & Heavy Commercial Vehicle Loan - Features

    • Can be availed by all kinds of commercial customers such as large/medium/small size fleet owners, partnership/proprietorship firms, trusts, schools, etc.
    • Maximum repayment tenure offered is 60 months.
    • Financing solutions are customised as per customer requirements.
    • Fleet Upkeep Loans are offered for the fleet maintenance but can be availed only after a satisfactory repayment track of 12 months.
    • The sanctioned amount will be released to the dealer/vendor selling the vehicle.
    • Assistance will be offered for purchasing the vehicle.

    Small & Light Commercial Vehicle Loan - Features

    • Can be used to purchase small & light vehicles for commercial use.
    • Offers up to 100% flexible finance.
    • Stamp charges and processing fees will be charged as applicable.
    • Funding will be provided based on net discount price.
    • Loan will be sanctioned within 2 working days post submission of all the documents.
    • After loan disbursal, a copy of the Registration Certificate (RC) needs to be submitted within 90 days at any branch of Tata Motor Finance.

    Tata Motor Finance Car Loan EMI Calculator

    How to Apply for a Vehicle Loan from Tata Motor Finance

    To apply for a vehicle loan from Tata Motor Finance, please follow the below-given steps:

    • Visit the official website of Tata Motor Finance at - https://www.tmf.co.in/
    • Select the category of loan you want to avail from the options which are – Passenger Vehicle Loan, Used Vehicle Loan, Medium & Heavy Commercial Vehicle Loan, and Small & Light Commercial Vehicle.
    • Once you select the desired category, you can click on the ‘Apply for Loan’ button.
    • You will be redirected to a new page where you will have 3 options to choose from – Loan for Buying a Vehicle, Loan Against Existing Vehicle, and Transfer Existing Loan.
    • Select the option ‘Loan for Buying a Vehicle’ and then click on ‘New Vehicle’ or ‘Used Vehicle’.
    • After you choose the relevant option, you will be directed to the further process of loan application.

    FAQs on Tata Motor Finance Loans

    1. Can I do a balance transfer to Tata Motor Finance?
    2. Answer: Tata Motor Finance allows you to do a balance transfer so that you can reap the benefits of longer repayment tenures and reduced equated monthly instalments (EMIs).

    3. How do I foreclose my loan availed from Tata Motor Finance?
    4. Answer: To foreclose your Tata Motor Finance vehicle loan, you need to pay the remaining principal amount plus the applicable charges.

    5. Can I get a top-up loan on my existing loan from Tata Motor Finance?
    6. Answer: Yes, you can get additional funding on your running Tata Motor Finance vehicle loan which will run simultaneous to the main loan and you will have to pay 2 EMIs.

    7. Do I have to buy insurance with the Tata Motor Finance vehicle loan?
    8. Answer: Yes. Insurance is compulsory when you avail a vehicle loan from Tata Motor Finance.

    9. How do I get in touch with Tata Motor Finance in case of any queries or complaints?
    10. Answer: You can get in touch with Tata Motor Finance by calling their toll-free number at 1800-209-0188 (Monday to Saturday 9:00 a.m. to 7:00 p.m.) or WhatsApp them at 8097090188 (Monday to Saturday 9:30 a.m. to 6:00 p.m. (except the 2nd Saturday of the month). You can also email Tata Motor Finance at - customercare@tmf.co.in, send them an SMS at 9266592665, or visit their nearest branch.

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    Tata Motor Finance Car Loan Reviews

    • review Car Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      I took the car loan from Tata Motor Finance, per month I used to pay the emi amount around Rs.13,000. I have taken Rs.4 lakhs of loan for the duration of four years, that experience was good. Through dealer I completed the process, the documentation was easy through their field executives.
      Was this review helpful? 7
      , hyderabad
      Reviewed on Sep 27, 2019
    • review
      review Car Loan
      "Hassle free and satisfactory experience"
      0.5 5.0/5 "Blown Away!"
      I have my car with Tata, hence I took the loan from same Tata mator finance but the interest is lesser as compared to other. They have sanctioned the on road price of price Rs. 7.45 lakhs and I got the discount based on the previous car. Hence I need to pay Rs. 40,000 alone, over all its an excellent service.
      Was this review helpful? 3
      , kolkata
      Reviewed on Aug 13, 2019
    • review Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken Car Loan directly through Tata Motors Finance.I have got all the details about the loan process very clearly .The car model was Tata Tiago NRG.I have got the loan on time and it was suffucient as well .I have applied for 6 lakhs for the tenure of 5 years ,I have not faced any drawbacs while submitting the documents .
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 06, 2019
    • review Car Loan
      "Good Car Loan provider"
      0.5 4.0/5 "Great!"
      I have taken the TATA India EV2 for that TATA company itself provided the finance for me. I have paid Rs. 2.20 lakhs as a down payment and the remaining amount, i have applied for the loan which is Rs. 4.3 lakhs. I have been paying the EMI of RS. 14800 for the tenure period of 3 years. They are taking long time to approve the loan which irritates me.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 11, 2019
    • review Car Loan
      "Worst company worst service "
      0.5 0.5/5 "Unacceptable"
      I buy a car from wasan motors and i finance car with tata finance thats my biggest mistake to finance from their.. forget abt big issues the cant resolve small issues, I legally change my name, and provide all the legal documents to tata finance , i ve been their office tons of time people thr have no idea no customer service. Its been 10 monts now stil my name is not change in their records.
      Was this review helpful? 2
      , mumbai
      Reviewed on Feb 05, 2019
    • review Car Loan
      "Overall good except that customer care"
      0.5 4.5/5 "Excellent!"
      TATA MOTOR have offered 100% on road price for my car but I have made some down payment. They don't respond to the customer queries properly the which has to be improved. I got good interest rate and I don't know about other bankers. The processing fee is lesser than other banks. I have purchased a TATA NIXON car.
      Was this review helpful? 3
      , bangalore
      Reviewed on Nov 30, 2018
    • review Car Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The experience with this loan has been good and they had provided me with a loan amount of 5,00,000 which was sufficient. The interest rate with them has been nominal when compared with the market rate and there has not been any sort of additional charges which have been made by them.
      Was this review helpful? 4
      , lucknow
      Reviewed on Oct 29, 2018
    • review Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      It took one month for my car loan approval and i have takenb it from the TATA MOTORS FINANCE. The duration is for 5 years also the EMI i pay is for auto debit. The sufficient loan amount i got and the rate of interest is 12.5% which is higher. The service is good.
      Was this review helpful? 1
      , dindigul
      Reviewed on Oct 18, 2018
    • review Car Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I took a vehicle loan from the TATA MOTORS FINANCE for 2 lacs, the loan experience was good, it was 10 years back and I closed the loan. The application and the documentation was at the showroom. It was a very easy process and a good experience.
      Was this review helpful? 6
      , bangalore
      Reviewed on Jul 21, 2018
    • review Car Loan
      "Good Car Loan"
      0.5 5.0/5 "Blown Away!"
      Best Car Loan service Given to the customers Since I have taken Brand New car Indigo v2 ,The Intrest Rate is affordable to pay and the account which I have using for savings account has been provided were they will be debiting Money every month from the Payment affordable to pay,As Now It is closed and no more Unwanted charges for this Loan apart from the Intrest Amount,Overall this is a Best car Loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 01, 2018
    • review Car Loan
      "Very Poor"
      0.5 1.0/5 "Really Bad"
      Struggled a lot with TATA MOTORS FINANCE. Have taken car loan with them, it was very poor experience I have ever faced. They often change the ECS payment date, they will call and say that your payment is going to on a date but they will pass on some other date. If the emi is not cleared there way of approaching is completely different from all finance in the market. Some times I feel very bad of myself taking a loan with TATA MOTORS FINANCE
      Was this review helpful? 5
      , chennai
      Reviewed on Jan 23, 2018
    • review Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My Car registration got delayed by TATA Motors, but they have approved my car loan within 3days of time. The customer support is good with TATA motors. The rate of interest is nominal with TATA MOTORS when compared with others . I am satisfied with the loan amount.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 23, 2017
    • review Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have got the car loan with TATA MOTORS, which is very easy process to avail a car loan from TATA MOTORS. The loan amount was high but their interest rate was low when compared with others. The documentation process is very good with TATA motors.
      Was this review helpful? 2
      , pune
      Reviewed on Oct 16, 2017
    • review Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have the loan amount with TATA motors within 3days of time. The rate of interest is 8.5 which is nominal with TATA motors when compared with others. The customer service is good with TATA motors. I have got the loan amount of 90% am I satisfied with the loam amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 09, 2017
    • review Car Loan
      "Better "
      0.5 4.0/5 "Great!"
      I have closed the car loan with the Tata motors finance and the interest rate was not aware from my end. Loan amount got disbursed to my account within two days to three days of time. Response is very good one with the Tata motors finance.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 01, 2017
    • review Car Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Actually I had applied for the car loan with other bank but when I did not receive proper response from the bank for the loan, I just moved to Tata motors and I got the loan without any hassles. Tata motors delivered a good response on my loan application and I am quite happy with them for the loan process.
      Was this review helpful? 2
      , panchkula
      Reviewed on Jul 01, 2017
    • review Car Loan
      "Satisfactory"
      0.5 3.0/5 "Satisfactory"
      Intially, I had applied for a car loan with TATA MOTERS. Post applied I did proceed further for car loan with them. I found that their interest rate is pretty higher than other institutions which is for 15% So I dropped the plan and the good thing about them is they don't ask for so many documents, even if you don't have ITR return they will except as in case of other banks they dont accept that at all.
      Was this review helpful? 0
      , nagpur
      Reviewed on May 04, 2017
    • review Car Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      Tata motors approved 85% of the car loan on the total car value. The process was completed through the showroom dealer because he was the one who referred the institute. I did not visited the company not even once. Door step service was provided. Within 15 days the cheque was given to the dealer.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jun 14, 2016
    • review Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Tata motors took only 3-4 working days for the car loan. Interest rate charged was 12% and the processing fee was 0.5% on the loan amount. They gave 3.5 lakhs for the loan. Documentation and verification process was smooth and also hassle free.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 26, 2016
    • review Car Loan
      "Prompt"
      0.5 5.0/5 "Blown Away!"
      Tata motors carried all the process for the car loan only once i visited the showroom . Seven days they were continuously following. The representative came and collected all the paper. Within three days the loan was disbursed. But the interest rate was 12% which is little high.
      Was this review helpful? 0
      , indore
      Reviewed on Feb 06, 2016
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