NEWS & ADVICE : CAR LOANS
Nano applicants receive confirmatory letters
By Vaibhav Aggarwal
Jul 3, 2009
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The first 100,000 applicants for allotment of Tata Nano have been selected by Tata Motars. The selection was done by computerised random selection process.

The deliveries which will commence from July this year, are expected to be completed by Q4-2010. The company has confirmed 'ex-showroom prices' for these first 100,000 allottees.

The retainees on the booking-list will be entitled to interest at rate of 8.5 percent on the booking fee if the car is delivered 'within' 2-years from the date of allotment, which is June 23, 2009, and at rate of 8.75 percent if delivery is made 'after' two years from the date of allotment. The company will pay the interest directly to the retainees.

The company will also offer retainees discount vouchers of Titan and Westside, besides an exclusive offer on the Tata Indica car range, which will be also extended to unsuccessful applicants.

The bookings for Tata Nano which began on April 9, 2009 across the country, was well received with filing of 2.03 lakh applications for different variants of small car -Tata Nano.

Most of the bookings (as many as 70 percent) were done through loans, of which nearly 50 percent of the bookings were through SBI.

 


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