Tata Tiago: Affordable, Safe, and Stylish
Remaining an exception in India’s hatchback car segment, the Tata Tiago is among the lowest-priced cars and yet does not compromise safety.
This little car with wonderful looks, management for first-time buyers and small families, and its solid 4-star rating from Global NCAP is a favorite. It possesses a compact, spacious form, and excellent fuel economy, with modern features for a well-rounded performance in this entry-level segment.
Pricing and Eligibility of Loan
The ex-showroom prices of the Tata Tiago begin from about ₹5.65 lakh for the base variant and top-out at ₹7.90 lakh for the upper-end. Loan-dispensing banks and NBFCs offer up to 90% of the car’s on-road price depending on the applicant’s credit score, income level, and financial background.
This implies that for an on-road estimate of ₹7 lakh, applicants could expect an ₹6.3 lakh loan, requiring a down payment of ₹A70,000.
EMI Breakdown Considering Different Tenures
Loan tenures and interest levels directly influence repayments. Assuming you are taking a car loan of ₹6.3 lakh at an average of 9.5% interest per annum, an estimated calculation is as follows.
The EMI for a loan of 5 years will amount to around ₹13,300 per month.
The EMI for a loan for 7 years will reduce to approximately ₹10,200 per month.
A short duration for a loan will command a higher EMI; yet, the bigger chunk will be the less interest amount that goes to total payment. Moreover, prepayment or foreclosure is allowed, with very little charges in most of the banks, giving borrowers a lot of flexibility.
Value for Money
The offer from the Tiago comes fitted with all the basic features of dual airbags, ABS with EBD, parking sensors at the back, and touchscreen infotainment in the top variants. Given very low maintenance costs and good resale value, the Tiago is a wise investment for any budget-conscious buyer.
Conclusion
The Tata Tiago is cheap but reliable and safe as well. The financing arrangement and easy EMI option put the dream of owning a car well within the reach of middle-class buyers. Be it a salaried person or a small businessman, getting finance for the Tata Tiago is absolutely smooth and budget-friendly.