Nissan India and Tata Capital sign financial agreement
Tata Capital is amongst the leading financial solutions providers in the country. This new tie up will help Hover Automotive India (HAI) in increasing Nissan India car sales. The finance agreement extends to both private and fleet customers. Apart from Tata Capital, Nissan has also tied with State Bank of India, ICICI Bank, Kotak Mahindra Bank, and HDFC Bank.
The new agreement states that interested Nissan car buyers who are salaried, will be able to avail finance on all models without even showing any proof of income. Tata Capital will provide 100% loans on ex-showroom price of Nissan cars. For fleet owners and operators, Tata Capital will offer a maximum of 90% loans. They will also help Nissan India dealers with funding and loans for their needs towards working capital. The interest rate for all loans towards Nissan cars from Tata Capital will be from 11% to 11.5%.
Nissan India currently has a dealer network of 82 while Tata Capital has over 100 branches int he country. This new partnership will be equally beneficial to Tata Capital as well. With this, Tata Capital can now increase their penetration in the Indian auto industry.
Mr. Nitish Tipnis, Director – sales & marketing, HAI said, “The partnership with Tata Capital underlines Nissan’s commitment to make its cars affordable and accessible across all regions. We are doing this by offering a range of attractive loan and funding options, providing an ever expanding and innovative choice of vehicles across a variety of segments and by having one of the fastest growing dealer networks in the country. This announcement with Tata Capital represents an important development for Nissan in India.”
Mr R. Vaithianathan, Head – consumer finance and advisory business – Tata Capital said, “We are happy to partner with Nissan. We are confident that together with Nissan, Tata Capital will be able to offer innovative solutions, that will benefit customers and the auto industry.”