Want to book a Nano? Get the know how
The wait is finally over for aam Hindustani with the high profile launch of Tata’s dream car NANO recently in Mumbai. After hitting many road-blocks and some strife’the junta car will finally hit the roads in mid- 2009. However, the booking is starting soon.
So, how does one apply for the Tata Nano?
The cars will be available through booking which will open on 9th April 2009 and close on 25th April 2009 (Both days included). The application form will be available for Rs. 300. Booking forms are also available online and are priced at Rs. 200.
The point worth noticing is that for the first time, a manufacturer will charge for an application form. However, it will be refunded if an application is rejected.
The application forms will be available at over 30,000 locations in about 1,000 cities through:
- Tata Motors Passenger Car dealerships
- State Bank of India and its branches, its subsidiaries and associates
- ‘World of Titan’
- Tata Indicom exclusive stores.
Tata Motors has a special tie-up with the State Bank of India to manage the booking process. All the forms and the collected money will be transferred to SBI, where they will be processed, and loans will be given through various banks within 90 days.
The minimum booking amount for a Tata Nano base model is Rs. 2,999 upfront and the balance (Rs. 95, 000 for base model) can be obtained as a secured loan.
What are the documents required to book a Tata Nano?
- Pan Card is mandatory for purchase of car.
- Form 60/ Form 61 can be used for the cases where pan card number is not available.
- Proof of identity in any of the following in the form:
b) Voter ID card
c) Driving license.
d) Any other photo ID proof attested by a gazetted officer shall also be accepted.
There is a set of documents need to be submitted at the time of Submission of form.
Along with the form, the applicant/applicant needs to submit:
a) The Payment Instrument (Cheque/DD)
b) Cancelled Cheque (This will ensure faster refund to you)
c) ID Proof
d) Form 60/61 if Pan Card not available.
However if the form is being submitted online, there will be no documents. The documents will have to be submitted to Tata Motors
How does one pay? Is the option of loan available?
The customers have two options to book the car; either pay the entire booking amount from personal funds or apply for finance for the booking amount from Tata Motors 15 preferred lenders. The chosen financier will directly submit the application forms to the State Bank of India. Here’s the list:
- State Bank of India
- Tata Motor Finance
- State Bank of Patiala
- ICICI Bank
- State Bank of Travancore
- State Bank of Mysore
- State Bank of Hyderabad
- State Bank of Bikaner and Jaipur
- State Bank of Indore
- Axis Bank
- Punjab National Bank
- Federal Bank
- Corporation Bank
- Indian Bank
- Central Bank of India.
The updated list and details are available at www.tatanano.com.
If you take a loan from a Tata Motors Limited preferred lender, such as the State Bank of India, one can get 100% of the booking amount as a loan. The loan applicant will have to pay a one-time flat charge of Rs.2, 999 inclusive of interest* and processing fee of SBI & Tata Motors Ltd. and Stamp Fee.
Want to pay from your own sources? Here’s what you will do.
If the customer chooses to pay the entire booking from own sources, the form can be submitted to State Bank of India through 1,350 notified branches in 850 cites, and also at Tata Motors Passenger Car dealerships, Westside and Croma outlets. If the car is being funded from your own sources, here’s the booking amount based on the variable:
Nano: Rs. 95,000; Nano CX: Rs. 1,20, 00 Nano LX: Rs. 1, 40, 000.
One will need to submit the form and the payment for the booking amount by Pay order or Demand Draft drawn up in favor of Tata Motors Limited.-A/c Tata Nano and payable locally. Provide the following details behind the payment instrument:
- Form UIN (Unique Identification Number that is printed on each form)
- Applicant’s Name
- Contact No.
Don’t want the refund? Wish to wait for an allotment?
In case an applicant is not allotted in the first phase, he/she has the option to retain the booking deposit. Those who choose this option will be eligible for a fixed interest rate of 8.5% on their deposit, effective from the date of announcement of allotment of the second phase for retention period between one year to two year and 8.75 per cent for a retention period of more than two years.
Allotment of retainees will be simultaneously communicated, along with the allotment of the first 100,000 cars.
How will the cars be allotted?
At the end of the booking period which is on April 25, 2009; Tata Motors will process and announce the allotment of 100,000 cars in the first phase of deliveries, through a computerised random selection procedure.
The allotment of the first 100,000 allotments will be ‘price protected’, i.e. the cars will be available at Rs. 100,000, excluding insurance and registration cost.
Deliveries for the first 100,000 cars will commence from July 2009.
Can the booking be cancelled?
The applicant has to register the cancellation request at the call centre. Then he would submit all the documents (acknowledgment slip + allotment letter) in original to the dealer. A cancellation form also needs to be submitted to the dealer. Following the verification by Tata Motors, the refund would be processed within 15 working days.
Booking will be cancelled upon receipt of the same at Tata Motors Headquarters. If the booking is cancelled, an administrative charge of Rs. 2, 999 will be payable.
Once you apply, cross your fingers. Get lucky and drive away in your own car. All the best!