Maruti Suzuki has introduced a set of attractive finance schemes to boost car sales in India, as we are seeing more discounts with Lockdown 4.0. The company has announced special financing options such as Buy Now, Pay Later offers, on-road funding up to 90% and long-term loans, other partnerships with the Cholamandalam Investment and Finance Company. Maruti Suzuki states that the objective of this partnership is to provide customized auto retail financing solutions to customers, thus promoting personal mobility.
Under the Buy Now, Pay Later scheme, customers who may be currently in a resource crisis due to a coronavirus pandemic will have the option to take a 60-day surcharge on their EMI. However, this offer is available on select Maruti Suzuki models and is applicable on loan payments due on or before 30 June 2020. Apart from Maruti, Tata Motors and Mahindra have also rolled out similar finance schemes this week.
Shashank Srivastava, executive director (marketing and sales), Maruti Suzuki, said on this new initiative, “Customers always value Maruti Suzuki’s efforts to make personal mobility accessible. Partnering with Cholamandalam Investment & Finance Company Ltd. to customize customers Retail will promote convenience by providing financing. The objective is to provide comfort to buyers who may have faced liquidity shortages during the covid-19 lockdown. Also tell you that “buy-now-pay later offers” will be available to customers in their pocket. But will promptly encourage car purchases without putting additional pressure. “