Just Swipe Your Credit Card To Own a Nano


Thread Starter #1
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> Fastest way to own a car

> Hassle free buying procedure

> Swipe your credit card and save on the monthly 0% interest payment

> Credit period options - 3 months to 12 months

> EMI of only Rs. 8,333 per lakh

Tata Nano today introduced an industry first offer. Customers can now swipe their credit card and drive out in a Tata Nano, on the same day. Making the offer irresistible, customers can also convert the entire amount in monthly installments at 0% interest, over a period of 12 months, at an EMI of Rs.8,333 per lakh.

According to Mr. Ranjit Yadav, President, Passenger Vehicles Business Unit, Tata Motors, "We are proud to offer this industry first phenomenon to our customers. This offer will enable customers to own a car in the fastest and hassle free manner. With the introduction of this offer, consumers get the benefit of converting the entire amount on the credit card into interest free installment, spread over a period of 12 months and manage monthly cash flow better. We would like to thank all our partner banks who have supported this special offer, exclusively for the Tata Nano.

"Our customer-centred cars are being backed with customer-engaging purchase experience at our dealerships. We realise that we can become a leader when the after-market experience levels are excellent, not only in pockets, but across our chain. We are bringing in enhancements with equipment, manpower and processes for fast service."
Tata Nano has partnered with five banks for this special scheme -- Axis Bank, HSBC Bank, ICICI Bank, Kotak Mahindra Bank and Standard Chartered Bank. Customers in India, who have credit cards belonging to these banks can avail of this special scheme in 26 cities, across 75 Tata Motors Dealerships.
 
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Re: Want Nano, just swipe your credit card

No matter what new trick Tata comes up with, the Nano has lost its sheen.

It clearly did not achieve what it set out to do.
 
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Re: Want Nano, just swipe your credit card

I would say good move by Tata Motors. But they are not clear about the processing fees for converting it into EMI. Also this facility is only beneficial to the customers in metros who are thinking Nano as a second car.
 
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Re: Want Nano, just swipe your credit card

Very good move by TATA and an innovative scheme. They can extend this to other cars specially Indica models which will be OTR around 4 lacs.

Cheers,
Anshuman
 
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Re: Want Nano, just swipe your credit card

So Tata understood that the actual customer base for the Nano is who looking for second car... The guys who happens to have cr card with more than 2L (and can afford 20k EMI)is currently not looking for first car in nano...
How about launching pixel Tata?
 
Thread Starter #6
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Re: Want Nano, just swipe your credit card

But i wonder how many people will have credit card with a 2L+ capacity? i would want to know weather multiple cards can be used to purchase a car.
 
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Re: Want Nano, just swipe your credit card

But i wonder how many people will have credit card with a 2L+ capacity? i would want to know weather multiple cards can be used to purchase a car.
OT
All the platinum cards has limit more than 3L+, if you haven't lower the limit intentionally.
 
Thread Starter #10
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I guess the target customer for this scheme are not first time car buyers but urban people who are looking for second car for family.

Cheers,
Anshuman
I guess you are right Tata would be targeting people who are looking for a city friendly car which could be their second or third car.

If people can buy TV's worth 2L and convert it to EMI why not on car's, you have to appreciate Tata for bringing in such innovative schemes for customers.
 
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Should the scheme be active today,TATA Nano AMT will be my 1st car.
I have requested even karnataka sales head to reintroduce credit card scheme with 0% should the entire payment be completed in 12months. They said, will revert back and its been 3weeks, no response.

Like me there are so many people willing to buy it through credit card. Even govt has encouraged to use card for transactions above 1lakh with incentives and no processing fees.

Hope TATA is reading this post and make informed decision.
 
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Impractical! Most of the Nano owners are middle class, it is extremely rare to find a person with 3 Lakhs plus credit limit. Marketing Duds!
 
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Quite practical and thoughtful judgement. Having credit card in automobile transaction is a boon for consumer if implemented right.

Just like your skype recursive billing(independent of credit limit), its a mode of payment. Every month, you will be billed for the EMI(not bank loan).

Nowadays govt has even mooted a proposal to make all transactions above 1L using cards or online without service charge. Without credit card, e-commerce wouldn' be successful.

Irony is, you can buy a apple phone of worth 60,000 by credit card, but you can't buy a honda shine bike of Rs.55,000 by credit card. Thats why ecommerce market is thriving and automobile market is struggling.

Take automobile products to e-commerce portals with EMI scheme and see how it thrills. If every one has to buy everything with cash, then its sick.
 
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In the year 1999, when Indica (4 gear model) was launched, my senior colleague went only with his Credit Card and GOT his Indica. It was totally radical in those times, when Credit limit was hardly Rs 50,000/-. He let the dealer and Credit card Co discuss the modalities among them to arrive at EMI. His line of attack was, "either THIS or bust".

Thanks to this thread, I'm remembering and re-living those moments and fun we had siting at the dealership with total isolation.
 
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Looks like tata motor guys dont have a sales target to innovate. When I visired a maruti showroom, i can see the fire in sales rep approachto clise the sale in same visit which is lacking in tata motors.
 
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