Mahindra and Mahindra, the world's well-known automobile manufacturers, today announced a range of finance schemes to increase car sales in the country. Mahindra has introduced some profitable finance schemes such as On Now Pay in 2021, Moratorium of 90 days on EMI, Women's Special Scheme, 100% on-road financing and long term loan tenure (8 years). The company says that the new finance package will reduce the burden of customers who are planning to buy a new car after lockdown. In fact, Mahindra has already temporarily resumed production and retail operations in India.
While speaking about the new finance scheme, Mahindra and Mahindra Automotive Division CEO Veejay Nakra said that "The offering of these new finance schemes is a step by Mahindra to help its customers in this difficult time The basis of each of our schemes is to provide financial flexibility and peace of mind to our customers, especially to our Kovid-19 warriors who are currently Unmatched support. Simultaneously many digital interventions that have recently been launched by Mahindra include its sales and service. These offerings enable our customers to have holistic buying and own experience to buy Mahindra vehicles."
Under the company's 'Own Now, Pay in 2021' scheme, customers can buy a Mahindra SUV today and start paying its EMI from next year. Also, customers can also choose Moratorium on 90 days EMI. Where they all start paying EMI after 90 days of buying the car. The company is also giving 100 percent on-road finance to customers on the purchase of Mahindra SUV. While special offers for women customers like 10 bps discount on interest rate is included. Apart from this, the company is also offering Balloon and Step-up EMI to reduce the economical monthly instalment. Which includes the first three low EMIs. In this, for the entire loan tenure, you can pay 50 percent in three EMIs. At the end of the loan term, 25 percent loan payment can be made. And EMI will start from at least 1,234 lakhs per year.
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