In a bid to make a car buying a financially less burdening experience, India’s largest automobile manufacturer Maruti Suzuki has tied up with Cholamandalam Investment & Finance Company Limited (CIFCL). The company will be offering a Buy now Pay later provide in the country, which essentially is a two month EMI holiday for its customers buying a brand new car.
Maruti Suzuki believes that this offer will help the prospective buyer in the present times of COVID-19. The Buy Now Pay Later will let the customer start paying EMIs after 60 days of loan disbursement.
Maruti Suzuki will be offering this scheme only on select models and will be applicable on loan disbursement till June 30, 2020.
“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.” mentions, Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki.
The company recently resumed operations at its 1,350 showrooms and has delivered over 5,000 cars in the country over the past few days. It has put a comprehensive standard operating procedure (SoPs), to ensure a high level of hygiene and sanitization, that have been set in place at all its dealerships and service centers. This has been done to safeguard the health and safety of the employees, customers, and all the other stakeholders participating in the functioning of Maruti Suzuki’s sales network in the country.
Presently, the automobile manufacturer has 3,086 showrooms in the country, that are spread across 1,964 towns and cities. Maruti Suzuki has confirmed that all of these touchpoints will abide by the new safety protocols. The remaining showrooms will open in due course if they are not in containment zones or if not explicitly restricted by any local guidelines.