Maruti And Mahindra Finance Partnership Will Allow You To Buy Now And Pay Later

The partnership aims to offer multiple EMI options to new car buyers in the post coronavirus lockdown period

India’s leading carmaker Maruti Suzuki has tied up with Mahindra Finance with an aim to offer multiple EMI options to new car buyers in the post coronavirus lockdown period. Most of these offers are aimed at buyers in rural areas that account for one-third of Maruti’s sales and one that Mahindra Finance knows all too well.

There are five new EMI offers to choose from. Here’s what they are:

• Buy now and pay later: A new car buyer can start paying their EMI after two months of purchasing the vehicle.

• Step up EMI: EMI amount will be increased after 6 months.

• Balloon EMI: The last EMI paid by the customer will account for 25 per cent of the contract value.

• Quarterly EMIs for customers engaged in agriculture.

• Low down payment offer.

Mahindra Finance will also help with on the spot approval of loans for both salaried and No-Income-Proof (NIP) individuals. The company won’t undertake any field investigation so that a contactless disbursement procedure can be followed.

All models sold by Maruti can be purchased under the above mentioned offers. They are also open to customers from all segments, namely salaried, self-employed, agriculturists and businessmen. The fact that Maruti is also offering discounts on select models in the month of June only sweetens the pot for those looking to bring a new Maruti home. As part of the discounts, new car buyers can avail benefits between Rs 40,000 and Rs 50,000 on popular models such as the Swift and Dzire.

While the offers are only valid till the end of the month, the EMI schemes have no expiry date as of now.