The partnership seems like the need of the hour. Recently today we gave you the news about MG Motor India signing a contract with Tata Power for chargers. Now another news comes in, Maruti Suzuki has partnered with Mahindra Finance for better and easier financing options.
The strategic alliance includes various financial schemes to ease up the buying process from Maruti Suzuki. First up is the Buy now pay later option. a time frame of 2 months is given to the customer to arrange the amount, basically, you can buy and worry about the EMI after a couple of months. Then there is the Step-up EMI, which helps in customizing EMI tenure according to your needs, you can adjust the time frame with an increment of 6 months.
Turant Scheme is an option with on the spot approval for car buying process even if you come under No Income Proof (NIP) customers, balloon EMI which can initially lighten the load of EMI, but you will have to pay 25% f the value as the last EMI, schemes with lesser down payments and agricultural scheme which includes quarterly EMIs instead of monthly.
Commenting on the partnership Mr Shashank Srivastava, Executive Director (M&S), Maruti Suzuki India said, “Mahindra Finance is a very well networked NBFC across India and has the expertise in lending across all profiles including semi-rural, rural and no-income proof customers. More than one-third of Maruti Suzuki’s retail sales come from rural India.”
While Mr Ramesh Iyer, Managing Director, Mahindra Finance, said “We are geared up to support and service all customers in these markets. Maruti Suzuki has been a very close and important partner to us. We believe providing a solution is more important than just offering credit.”
Maruti Suzuki tells that even before this partnership customers have financed over 6 lakh cars from Mahindra Finance. So now there is an official partnership to take care of financing options as well as to provide better benefits to customers.
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