Both carmakers are offering upto 95 per cent finance on the ex-showroom amount of their entry-level hatchbacks
The festive season has arrived a little early this year for the Indian car market thanks to the July 1, 2017, GST rollout timeline. Buyers are preponing their car purchase as small cars are expected to become dearer under the new taxation system. Manufacturers & dealers are also keen to liquidate their existing stock to simplify their finances.
Two mass carmakers – Renault and Datsun – have rolled out some finance schemes on their entry-level hatchbacks – Kwid and Redi Go – for the month of June, 2017. Both carmakers are offering up to 95 per cent finance on the ex-showroom amount of these cars.
Renault's finance scheme on the Kwid
The Renault Kwid can be bought at a low down payment of Rs 12,999 for the base 0.8L STD variant. The EMI for a loan amount of Rs 2.51 lakh for five years is Rs 5,244. The interest rate for this offer is 9.5 per cent. Renault is offering more schemes on the Kwid wherein you can increase the down payment which lowers the EMI.
Datsun is offering finance facility at the rate of 8.99 per cent on redi-GO
Datsun is also offering finance options of up to 95 per cent of the Redi Go’s ex-showroom amount. The interest rate is fixed at 8.99 per cent. So, if you apply for a loan of Rs 2.51 lakh on the Datsun Redi Go at the said interest rate for five years, the EMI will be Rs 5,186. It turns out that Datsun’s finance offer is slightly better than Renault’s, though the difference is not much.
It should be noted that we have calculated the EMI under EMI-in-advance scheme locking the loan tenure to 5 years. None of the manufacturers has specified it in its printed offers, and you may contact your nearest manufacturer dealership for more details.
Datsun is also offering free insurance, exchange bonus, a corporate discount of Rs 2,000 and benefits worth Rs 6,000 for govt. employees on the Redi Go.
Read More on : Redi GO on road price
Further Research on Datsun RediGO
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