Nissan launches EMI scheme for Sunny, Micra

Nissan Motor India, a wholly-owned subsidiary of Japan's Nissan Motor Co., has launched an equated monthly installment (EMI) scheme for its potential customers in India, which the company claims is ''lower than the lowest'' in the country.

Nissan claims the scheme is designed to reduce the monthly EMI outflow of the customer by up to 40 per cent. The offer is valid till 30 April 2013.

EMI on the Micra (petrol and diesel) and Sunny Diesel is Rs8,999 on a three-year loan, which is lower than the EMI of any other vehicle in these segments. Customers have an option to either choose down a payment of 34 per cent on the on-road price or exchange their old cara and get an additional exchange bonus of up to Rs 50,000.

The customer can also extend the scheme to include a customised EMI plan for the 36th month.

Nissan said in a statement, the scheme was "very transparent" and based on the trade-in of a used car. The scheme is valid for a period of three years as it takes into account the need of the customer to upgrade to a new car.

"It is a strong value proposition in terms of offering the lowest total cost of ownership," it added.

''Our lowest EMI Scheme offered last month was a huge success and reflected the sentiments of the customers, so we further enhanced the value proposition to make it more exciting and affordable,'' Nitish Tipnis, director (sales and marketing) Hover Automotive India (the national sales company for Nissan India) said.

Nissan has tied up with all leading auto financiers such as HDFC, Tata Capital, ICICI Bank and Kotak Mahindra Bank. The customer will pay the respective financial institution the EMI for a period of 35 months and the EMI for the 36th, and last month, will be a larger EMI that can be customised to make the payment affordable.