Saturday, 11 April 2009

Is it worth incurring debts for Nano?

Tata's Nano is so much a craze for every one from richer people to those weak on financial footing that they are to some way or the other grab one. Richer people are for it as a fancy to add it to their fleet of cars as a modern most item and middle class/ lower middle class people look at it as an elevated version of a scooter/bike with not so much difference in cost. Bankers were never found so liberal in so receptively granting loans for the purpose and there is a cut throat competition amongst them which obviously suits the customers. A tendency of remaining unmindful to interest impact as the Indian customers particularly the farmers have, they don't bother for the burden of debts. They fail to realize that waiting periodMINICAB[1] in the case of Nano may be too high in view of the unprecedently huge demand for the toy car and obviously the interest burden is likely to reach a peak by the time its delivery materializes. Rich people can afford it as for them it is a petty item of expenditure but it may prove so cumbersome for others who have but to borrow against heavy interest. Interest burden wise it may not at all be worth to go for the vehicle but the amount of frenzy for it is so much that the customers can't help going for it whatever be the cost.

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