Maruti Suzuki India Limited has announced a partnership with Cholamandalam Investment & Finance Company Limited (CIFCL), to provide customised auto retail financing solutions to retail buyers. The new solution ‘Buy Now Pay Later Offer’ is aimed to provide customers with easy financing options.
Customers can choose from a slew of financial schemes such as buy now, pay later offer, higher loan to value, up to 90 per cent on-road funding, longer repayment tenure and a two-month deferment of EMI.
The ‘Buy Now Pay Later Offer’’ will allow customers to start paying the EMIs after 60 days of loan disbursement. The offer is available on select Maruti Suzuki models and will be applicable on loan disbursement till 30th June 2020.
Speaking on the customer-centric initiative, Mr. Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki said, “Customers have always been at the heart of Maruti Suzuki’s efforts of making personal mobility accessible. The partnership with Cholamandalam Investment & Finance company Limited will boost convenience by offering customized retail financing to the customers. It is aimed to offer comfort to buyers who may have faced liquidity crunch during the COVID-19 lockdown. I am sure that the “Buy-Now-Pay-Later Offer” will encourage customers towards car purchase without putting immediate extra pressure on their pockets.”
Speaking on the partnership, Mr. Ravindra Kundu, Executive Director, Cholamandalam Investment & Finance Company Limited said, “We are very excited to partner with Maruti Suzuki India Limited, a trusted and renowned brand in India. This partnership will give us a strong foothold in the car financing space, with our 1094 branches spread across semi-urban and rural markets. The synergies between the organizations are aimed towards singular focus to bring benefits to the customers. This “Buy-Now-Pay-Later Offer” will help customers in realizing their dreams without postponing the purchase any further.”