Renowned automaker 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 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 Buy Now, Pay Later scheme, customers who may be currently in resource crisis due to coronavirus epidemic, will have the option to avail 60 days of overload 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.
In his statement, Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki, said on the new initiative, "Customers always value Maruti Suzuki's efforts to make personal mobility accessible. Partnering with Cholamandalam Investment & Finance Company Ltd. Will promote convenience by providing customized retail financing to customers. The objective is to facilitate buyers who may have faced liquidity shortages during the Covid-19 lockdown. I am sure that "buy-now-pay letter offers" customers To encourage car purchases without putting immediate additional pressure on their pockets. "