To boost the sales with the announcement of Unlock 1.0, Tata Motors is offering Tiago at an ever-low EMI of Rs. 4,999. Read here to know more.
Tata Motors has been offering discounts on its BS-6 product range alongside various financing schemes. The carmaker has also introduced a contactless sales platform – Click to Drive. All these developments have been the courtesy of poor sales figure that the manufacturer has been observing ever since the nationwide lockout was announced. Now, the indigenous carmaker is offering its smallest product ‘Tiago’ at the lowest EMI of Rs. 4,999. How is it even possible? We explain.
The base-spec XE variant of the Tiago is priced at Rs. 4.60 lakh. The on-road price of the vehicle comes up to Rs. 5.56 lakh. The difference between the two comprises of zero-depreciation insurance scheme, registration charges, and logistic charges. Tata Motors will finance the 90 per cent of the total on-road price of the car, thus bringing up the total financed amount to Rs. 4,99,900. Therefore, the consumer will have to pay a down payment of roughly around Rs. 56,000.
On the loaned amount of Rs. 4,99,900, Tata Motors will charge an EMI of Rs. 4,999 for the first 6 months only. For the next 6 months, the EMI will increase to Rs. 7,998, after which the EMI will go up to Rs. 10,998. The last and final EMI will come up to Rs. 89,932. It should be noted that this is applicable on a loan tenure of 5 years only.
Similarly for other variants, XT, XZ, and XZA, Tata Motors is offering such flexible EMI schemes. However, since their on-roads vary from each other, their EMI structures also vary. Here’s a table revealing the various EMI amounts.
The Tiago being the smallest offering from Tata’s stable is not low on power. It comes equipped with a 1.2L 3-pot petrol motor. It belts out a peak power output of 86 PS and max. torque of 113 Nm. The transmission duties on the Tiago are performed by either a 5-speed MT or a 5-speed AMT, depending upon the option you choose to go with.