Skoda launches ‘EasyBuy’ finance option for Superb sedan.

Skoda will now offer a buyback scheme to its customers on the Superb. The company is calling the scheme EasyBuy and this exists only for the customers who already own a Skoda car. The scheme is being offered via the Skoda’s financial division.

Under the new EasyBuy scheme, the customer has to only take care of the initial costs involved with the car such as registration charges, insurance costs and road tax. The customer does not have to pay any part of the price of the Superb upfront.

What Skoda will do is introduce an EMI of Rs. 48,663 on the car. Once the period of 3 years is reached, the customer can sell the car back to the company Rs. 13.67 lakhs. Under this new scheme the resale value that the customer will get after 36 months will be equivalent to around 57 % of the value of the car at the time of the purchase. Assuming that the Superb costs around Rs. 24 lakhs, the initial cost to the customer of the charges will be around Rs. 4 lakhs. With the buyback price factored in, the end cost for the customer is reduced to around 50 % of the on-road cost of Superb for three years of usage.

Skoda India’s director for sales, service and marketing Zac Hollis spoke on the occasion of introducing the new scheme for the customers and said,

Skoda has built its brand on clever offerings and a strong value proposition. In addition to offering a premium product, the ‘EasyBuy’ program is a unique initiative that further emphasizes the brands effort to understand customer needs while providing them with a hassle free ownership experience.

Parent company Volkswagen’s finance division’s MD and CEO Aashish Deshpande also spoke on the occasion and stated,

With our unique financing solutions coupled with the  finesse of ŠKODA Cars, the launch of ‘EasyBuy’ is another step towards offering a one stop solution. One which is tailored to the financial and aspirational requirements of the customers. We are confident that this product will act as a true enabler for customer convenience.

This new EasyBuy scheme by the company aims to lower the burden of the EMI on the customer. Thereby the company is seeking increase in the number of unit sales of the car. Assuming that the customer take the same amount of Rs. 24 lakhs as a loan from an average loan company for the same period of 3 years, the EMI would come out to be around Rs. 77,353. This is a far greater amount when compared to the EMI of Skoda at Rs. 48,663.

This makes the new EasyBuy scheme from the company effectively like a leasing service, only with the name changed. Leasing services also offer similar kind of products to the customers in the market. However, this scheme also ensures that the customer will indeed have a definite buyer for the car at the end of 3 years and that too at a definite price.

Since the warranty on the car is for around 3 years, so maintenance costs are going to be minimal for the end customer. So, that is one aspect taken care of for the customer. One must also not forget that luxury cars such as the Superb sedan face heavy depreciation in the market. Now, if the company is offering a low EMI option for the customer along with an assured buyback scheme, this will surely be beneficial for the end consumer of the car.

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