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Maruti Suzuki ties up with Cholamandalam for customised auto finance
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SME Times News Bureau | 22 May, 2020
Maruti Suzuki India on Friday
announced a partnership with Cholamandalam Investment & Finance
Company Ltd (CIFCL) to provide customised auto retail financing
solutions to retail buyers through 'Buy Now Pay Later' offer.
In a
statement, the automobile major said that the scheme will allow
customers to start paying the EMIs after 60 days of loan
disbursement.This will make the process of car buying more convenient in
these unprecedented times, it added.
"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
30th June 2020," the company said.
The two-month deferment of EMI
will bring advantage to car customers who currently are under resource
crunch amidst the Covid-19 pandemic, it said.
Shashank
Srivastava, Executive Director for Marketing & Sales at Maruti
Suzuki, said: "The partnership with Cholamandalam Investment &
Finance Company Ltd will boost convenience by offering customised retail
financing to the customers. It is aimed to offer comfort to buyers who
may have faced liquidity crunch during the Covid-19 lockdown."
Ravindra
Kundu, Executive Director, Cholamandalam Investment & Finance
Company Ltd, said: "This partnership will give us a strong foot hold in
the car financing space, with our 1,094 branches spread across semi
urban and rural markets. The synergies between the organisations are
aimed towards singular focus to bring benefits to the customers."
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