The car is meant for people who want to go in for a low end model and dont want to spend much on buying a car but would like the basic facilities to be available. Nano comes in three models and the high end model has typically every thing which you look for in a small sized car.
The cost part - This needs to be set right. It is a cheap car but is not a 1 Lac car. None of the models are available on road at that or near to that price. The cost varies. Typically the high end model price matches with that of Maruti 800with ACon road price.
Logically you can visualize the size as same as Wagon R minus the front. Just remove 400mm from the front and you have the same shape. The 400 mm engine space goes at the back seat!!!!
Pros
AC is really good. With the engine at the back the AC is very effective.
If you compare with 800 price with Nano the difference is around 25K. Depends on city to city.
Inside leg space is really good and comfortable
High milleage
Power windows in high end model
Good brakes.
Rear wheel drive makes this car distinct. It is known fact that rear wheel drive cars provides better handling and acceleration. With steering and accelaration on the same wheel in other cars this one provides a distinct advantage. And then BMW and Mercedes-Benz go with rear wheel drive. :)
Cons
No power steering but offers a very good turning radius.
No glove compartment inside the car.The space near the dash board are all open space.
Almost no luggage space inside the car.
Engine access is a real pain. You need to lower the back seat and then remove screws and then open the cover of the engine. That means checking oil, radiator water all that is a real pain.
Petrol tank in front and really small. You need to be regular in filling petrol. (14 ~ 15L capacity)
The spare tyre can be used only in emergency and is not an extra. The width of front and back tyre varies.
The dealers and after sales service is a real pain. But you can live with it :)
There is side mirror only at Drivers side.
Engine is a bit cranky. But with AC or music system on you will not notice it.
If you are going to buy a Tata Nano few things you need to think about:
Resale price - I heard it is not good. There are not many cases. But going by the price range we can expect this car will not have a very high resale value. If I was to buy, I would always go for a new Nano
On road service. Typically Maruti Garages and local garages can repair the Maruti Car in no time. For Tata Nano it will take a long time for the local garages to gain familarity with the Nano engine
Spare parts cost
The other cars have a proven engine. Here we have only the Tata brand name and they have been in this sector for a long time.
Maintenance cost of the car needs to be seen.
I leave it for you to decide after reading the pros and cons