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The Tata Nexon is a modern compact SUV with advanced features like a panoramic sunroof and a JBL sound system. With its high-speed stability, five-star BNCAP safety rating, and options between petrol, diesel, and CNG powertrains, the Tata Nexon is a great choice. With ex-showroom prices starting at ₹7.32 lakh and going up to ₹14.15 lakh, many buyers may purchase the car through a car loan.
A Tata Nexon car loan will allow you to spread the cost of the vehicle over manageable monthly instalments, an easier financial alternative to paying the whole value of the vehicle up front. You also use an EMI calculator to understand/estimate your monthly payments based on the loan amount, tenure, and interest rate. Whether you are buying a Tata Nexon base model or a top-end model, understanding your financing options can help you make a financially sound decision.
Opting for a Tata Nexon car loan comes with several advantages that make the purchase more accessible and convenient. Many lenders offer up to 70-90% of the price of the car as the loan amount, with flexible repayment options, typically ranging from 1 to 7 years, so you can choose a tenure and EMI amount that suits your finances.
Moreover, if you have a good credit score, most banks and NBFCs will offer competitive interest rates for your car loan, with quick approvals and a swift digital application process. Thus, you can compare and choose the most economically viable Tata Nexon car loan offer.
Lastly, many lenders also offer prepayment and foreclosure options. Combined with the excellent resale value of the vehicle, getting a Tata Nexon car loan becomes a highly appealing option.
Age: You need to be between 21 and 65 years of age at loan maturity to be eligible for a Tata Nexon car loan.
Income Eligibility: Lenders assess whether your earnings are sufficient to manage Tata Nexon EMIs along with existing financial obligations comfortably.
Employment Type: Both salaried and self-employed individuals can apply for a Tata Nexon loan. Consistency of employment or business continuity plays an important role in determining car loan eligibility.
Credit History: A strong credit score significantly improves your eligibility for a new car loan. It reflects responsible repayment behaviour.
Ensuring that all of your documentation is in order can help speed up the Tata Nexon financing process. Most lenders will require a set of standard documents for verification:
Identity and Address Proof: You can submit your Aadhaar card, PAN card, passport or driving licence.
Income Proof: Salaried individuals can submit salary slips and bank statements, and self-employed individuals can submit tax returns and business proof.
Photograph: You may also need to submit passport-sized photographs with your application.
Extra Documentation: In some cases, lenders may require you to submit additional documents such as proof of employment or business registration details.
A car loan EMI calculator is a highly useful tool that prospective buyers can use to understand their monthly payment obligations and pick the right tenure that fits their finances and budget.
The calculator will then instantly display your monthly EMI payable, total interest payable over the duration of the loan, and the overall loan cost. You can compare different lenders’ offers by entering their details into the Tata Nexon car loan EMI calculator and understanding the monthly payments and interest costs. This can help you find the perfect loan offer that has the right balance between affordability and total interest cost.
Tata Nexon car loan interest rates start from around 8.5% and can go higher depending on various factors like your credit profile and the lender's policies.
In addition to the interest rate, you may also need to consider other charges, such as processing fees, which can be anywhere between 0.5% to 2% of the total loan amount. Other charges to consider include documentation fees, prepayment, or foreclosure charges.
Moreover, late payment fees may also be charged in case of any missed EMIs, so ensure that your monthly repayments are not missed. Comparing offers from multiple banks and NBFCs can help you secure the best deal. Even a small difference in interest rate can significantly impact the total cost of your loan.
Applying for a Tata Nexon car loan is a straightforward process.
If you fit all the eligibility criteria, you can compare loan offers from various banks & NBFCs to find the best interest rates and loan terms. Once you have shortlisted your chosen lender, fill out the application form online or at the lender’s offline branch.
Attach/submit the required documentation for application verification. After successful verification, the lender will approve the loan and issue a sanction letter. Once you accept the terms, the loan amount is disbursed directly to the car seller/dealer in most cases.
To ensure a swift approval for your loan application, keep all of your documents ready and maintain a good credit score.
Through its extensive network of trusted lending partners, Tata Motors offers customised financing options for car buyers. With multiple EMI structures available, you can choose a repayment plan that suits your finances.
Visit your nearest Tata Motors authorised dealership to explore the right used car loan option for you.
The EMI depends on the loan amount, interest rate, and tenure. For example, a ₹10 lakh loan at 9% for 5 years results in an EMI of around ₹20,700.
Most lenders require 10–20% of the car’s on-road price as a down payment.
Interest rates usually start from around 8.5% per annum and vary based on your credit profile.
Some lenders offer up to 100% financing, but this depends on your income, credit score, and relationship with the bank.
Loan approval can take anywhere from a few hours to 2–3 days, depending on the lender and application process.
Yes, most lenders allow prepayment or foreclosure, though charges may apply in some cases.
