Maruti Suzuki introduces 'buy now pay later' scheme on car purchase
NEW DELHI: Maruti Suzuki India Limited on Friday announced a partnership with Cholamandalam Investment & Finance Company Limited (CIFCL), one of the leading Non-Banking Financial Companies to provide customised automobile retail financing solutions to buyers. The new solution ‘Buy Now Pay Later Offer’’ is aimed to provide customers with easy financing options.
A two-month deferment of EMI will bring advantage to car customers who currently are under resource crunch amidst the Covid-19 pandemic.
The ‘Buy Now Pay Later Offer’’ will allow customers to start paying the EMIs after 60 days of loan disbursement.
With Maruti Suzuki’s vast network of 3,086 new car retail outlets across 1,964 cities and towns and CIFCL’s extensive branch presence across the country, the offer is expected to benefit many customers. The offer is available on select Maruti Suzuki models and will be applicable on loan disbursement till June 30, 2020, the company informed.
Shashank Srivastava, executive director (marketing and 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.”
Ravindra Kundu, executive director, Cholamandalam Investment and 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 foot hold 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.”
A two-month deferment of EMI will bring advantage to car customers who currently are under resource crunch amidst the Covid-19 pandemic.
The ‘Buy Now Pay Later Offer’’ will allow customers to start paying the EMIs after 60 days of loan disbursement.
With Maruti Suzuki’s vast network of 3,086 new car retail outlets across 1,964 cities and towns and CIFCL’s extensive branch presence across the country, the offer is expected to benefit many customers. The offer is available on select Maruti Suzuki models and will be applicable on loan disbursement till June 30, 2020, the company informed.
Shashank Srivastava, executive director (marketing and 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.”
Ravindra Kundu, executive director, Cholamandalam Investment and 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 foot hold 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.”
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