It’s raining deals in March as all carmakers are doling out the goodies to try and win back some sales in a slowing car market. For you the buyer, this is a good time to grab some good offers on your favourite cars.
This week, we’ve got three interesting deals to look at. Here’s what’s in store for you if you were planning to buy a Tata Manza, a Maruti Ritz or a Nissan Sunny. Also read: March deals – lucrative offers on Vento, Rapid, SX4 and Civic
Tata Manza buyback offer
Tata has come up with a buyback offer for the Tata Manza, where you can buy a Manza now from the company and sell it back to Tata after three years for 60% of its value. This scheme is part of its Club Class Buyback Assurance plan.
This is indeed an attractive scheme, especially if you were looking at buying a petrol Manza, whose resale value drops much faster. Under Tata’s scheme of things, they are assuring you a fixed depreciation of up to 40% in three years, while it would normally be much more in the open market. Those who buy the car in a company’s name can benefit even more, as you can write off 40% of it as depreciation in the first year to save tax, while still getting a much higher value on resale three year’s later.
Tata has also revised prices on the Tata Manza, with the top-end model now Rs. 50,000 cheaper, from Rs. 8.80 lakh down to Rs. 8.30 lakh – for a car that is fully loaded with features such as touchscreen music system, GPS navigation, leather upholstery and automatic climate control. This makes the Tata Manza much better value than a Nissan Sunny or Hyundai Verna, and the most inexpensive fully-loaded sedan you can buy. Also read: Tata Nano offers begin, production slashed
Maruti offers Rs. 45,000 discount on Ritz diesel
Maruti is offering a huge cash discount on the Maruti Ritz diesel. The company has come out with advertisements offering Rs. 45,000 off on the Ritz diesel. This comprises of a cash discount of Rs. 25,000 and an exchange bonus of Rs. 20,000 if you trade in your old car for a diesel Ritz. The discount on the petrol Ritz is a little lower. You get Rs. 25,000 off on the petrol which includes a cash discount of Rs. 15,000 and an exchange bonus of Rs. 10,000 for your old car.
The Ritz is one of the better-selling cars in its segment, but of late has been facing severe competition from the Honda Brio among petrol and Ford Figo among diesels. The Chevrolet Sail U-Va which recently slashed prices (although it too is not selling much) is also a car to reckon with. Also read: GM cuts prices of Chevrolet Sail U-Va
Nissan Sunny lowest EMI offer
Nissan has come out with an offer that it’s marketing as its “Lowest EMI challenge” where it’s inviting buyers to come look at the Nissan Sunny and then you can get your money back if you manage to get a bank to give you a loan that offers a lower EMI on the Nissan Sunny than what Nissan and its banking alliance partners are offering.
How this scheme works is you can come in with any old car, exchange that as down payment for a Nissan Micra, Nissan Sunny or Nissan Evalia and then pay the lowest EMI for each of these – which is Rs. 9,333 for 35 months for the Micra, Rs. 12,333 for 35 months for the Sunny and Rs. 14,333 for 35 months for the Evalia. On the 36th month, you will have to make the balance payment in one lump sum, depending on how much is balance after the down payment amount deducted against your old car. (Nissan is also throwing in an exchange bonus of Rs. 15,000 as well). Also read: Nissan launches special edition Sunny
So if you got an old car that was valued at Rs. 2 lakh by Nissan, and wanted to buy a Sunny priced at Rs. 8.95 lakh ex-showroom, you would have to first pay an EMI of Rs. 12,333 for 35 months (adding up to Rs. 4,31,655), and on the 36th month you would have to pay Rs. 2.65 lakh or so in one balloon payment. Supposing you were likely to get some extra income by the end of three years this scheme makes sense. Of course, this does not include road tax and registration (which would add up to Rs. 1 lakh more, to be paid as soon as you buy the car). This scheme is valid till this weekend only.