Car Financing by Tata Finance, Tata Finance Ltd. car financing rates, car finance india, car financing rates in india

Tata Finance Ltd.

A venture of the Tata group, Tata Finance Ltd. is among the major finance companies offering finance for new vehicles.

Cars currently financed

Telco - Indica, Safari, Sumo, Sierra, Estate
Maruti- M-800,1000, Zen, Esteem, Van, Gypsy,
Daewoo - Cielo, Matiz
Hyundai- Santro, Accent
Fiat - Uno, Sienna
Mitsubishi - Lancer
Mercedes Benz - E- Class & Van
Honda - City
Mahindra - Commander, Armada, Voyager
Ford - Ford Escort, Ikon
General Motors - Opel Astra

Effective IRR (all inclusive)
Effective IRR 17.50% TO 18%

Minimum and maximum tenure of loan against the above models
- Mercedes Benz - 1-5 years
- Luxury - 1-5 years
- Standard - 1-5 years

Maximum extent of funding provided on the above models
- Corporates - 100%
Individuals - 3yrs 85%
- 4yrs 80%
- 5yrs 70%

ELIGIBILITY CRITERIA
- Salaries Individuals /Proprietorship
- Net disposable income 2.5 times the installment amount
- 2 years minimum service / business
- Age - less than 60 years

Partnership / Limited Companies
- Minimum 2 Years in business
- Turn over 10 times the Installment amount
- Net fixed asset to be equal to the loan amount
- PAT & Depreciation to be Rs.60,000/- and above

DOCUMENTS
- Salaries Individuals /Proprietorship
- Last 2 years salary slip / income statement certified by employer / C.A.
- Bank statement for the last 6 months
- Proof of Residence - Copy of Ration Card/ Electricity Bill / Passport
- Signature verification from the bank
- Photograph

Partnership / Limited Companies
- Last 2 years audited Profit & Loss accounted certified by one of the directors
- Copy of last 2 years Income Tax returns
- Memorandum of Articles of Association certified by one of the directors
- Copy of Partnership deed certified by one partner
- Authority letter signed by all partners authorizing one partner to execute the agreement
- Photograph of the partner / director executing the agreement
- Bank statement for the last 6 months

Car Finance	Two Wheeler Finance	Commercial Veh. Finance	Banks / Financial institutions
The First Step	Monthly Rent System	Loan Schemes	Hire Purchase