NE BUSINESS BUREAU
MUMBAI, MAY 20
Aiming to accelerate the sale of vehicles during the lockdown period and woo new customers, Mahindra & Mahindra Ltd, has announced ‘Own Now, Pay In 2021’. The company has announced a new set of financial schemes, which help empower them to purchase their dream Mahindra vehicle, a top official of the company said.
The new scheme from Mahindra is customisable and comes with industry-first offerings, ensuring peace-of-mind to their customers. It also provides customers with the financial flexibility to go-ahead with a new Mahindra car purchase.
Speaking about these new finance schemes, Veejay Nakra, CEO, Automotive Division, M&M Ltd. said, “The introduction of these unique financing schemes is one more step by Mahindra to support its customers during these challenging times. The bedrock of each one of our schemes is to provide financial flexibility and peace of mind to our customers, especially for our COVID Warriors who are providing unparalleled support at this point.”
He further added, “Together with the various digital interventions which Mahindra has recently announced both in its sales and service, these offerings will provide our customers with a holistic buying and owning experience for a Mahindra vehicle.”
Special Finance Schemes for COVID Warriors
o Doctors – 50% Processing Fee Waiver and the option to Buy Now, Pay Later (90 days moratorium)
o Police – High funding scheme
o Pickup Vehicle Owners (ESP) – Own a BSVI Mahindra Pickup and pay the same EMI as a BSIV vehicle
- Own Now, Pay in 2021– Own your SUV today and start paying the EMI next year
- 90 Days Moratorium – Own your SUV today and start paying the EMI after 90 days
- 100% On-Road Funding– Up to 100% of on-road funding for Mahindra SUVs
- Empowering Women with Special Schemes– 10 bps discount on the rate of interest
- Balloon and Step Up EMI offering to lower the monthly payments –
o First 3 low EMIs
o Pay 50% Less EMI for 3 months for every year of the loan tenure
o 25% of loan payment at the end of the loan tenure
o EMI starting from as low as Rs. 1,234/ per lakh
- Highest Loan Tenure– Loan Repayment after 8 years
- Lowest Interest Rate– Rate of interest starting from as low as 7.75%
- Hassle-free Financing– No prepayment/foreclosure charges from the very first day
- Yellow Board Funding– Taxi Funding available for a wide range of Mahindra SUVs
