Some of the automakers recently restarted their operations amidst the COVID’19 lockdown. They have re-opened dealerships and manufacturing facilities. Along with this, the carmakers have also announced a number of attractive discount schemes, financial deals, and buying options to attract new customers. Maruti Suzuki India Limited has announced its partnership with Cholamandalam Investment & Finance Company Limited (CIFCL), one of the leading Non-Banking Financial Companies today.
This partnership has been created with an aim to make new car purchase easy and affordable. The main objective of the new solution “Buy Now Pay Later Offer’’ is to provide customers with easy financing options. A two-month deferment of EMI will bring advantage to car customers who currently are under a resource crunch amidst the COVID-19 pandemic.
Customers who purchase a new vehicle will be eligible to use “Buy Now Pay Later Offer’’. They can start paying EMIs after 60 days of loan disbursements. This offer will be available on selected Maruti Suzuki models. Also, it will be applicable to loan disbursement till June 30, 2020.
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“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,” commented Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki.
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. Currently, the automobile sector is working towards recovering from this crisis. It is going to take several months to regain economic strength. Customer-centric financial schemes being offered by the brands will be of much aid in attracting new buyers as we lead up to the festive season in the coming months.
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