Auto major TATA Motors has partnered with city-headquartered non-banking finance company Sundaram Finance to offer exclusive offers to customers opting to purchase its range of passenger cars. Under the partnership with TATA Motors, Sundaram Finance would offer six-year loans on the new ‘Forever’ range of cars and with 100 per cent financing that would require minimal down payment, a company statement said here.
The partnership would also offer special financing ‘Kisan Car Scheme’ with extended and convenient repayment options to the farmers.
“The farmers can repay the loan in installments once every six months coinciding with their harvest”
Commenting on the partnership, TATA Motors, Vice- President, sales, marketing and customer care, Rajan Amba 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.”
“We hope that these offers will boost customer morale and make the process of purchasing a car more convenient,” he added.
On the partnership with TATA Motors, Sundaram Finance, deputy managing director, A N Raju 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. 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…”, he added.
Tata Motors in July recorded a strong jump on its total sales made in last month.