Maruti launches ‘Buy now pay later' offer with CIFCL

Our Bureau New Delhi | Updated on May 22, 2020

Maruti Suzuki India (MSIL) on Friday said it has partnered with Cholamandalam Investment & Finance Company Limited (CIFCL), to provide customised auto retail financing solutions to buyers.

The objective of this partnershipwith new solution called ‘Buy Now Pay Later Offer' is aimed to provide customers with easy financing options. The offer includes higher loan to value, up to 90 per cent on-road funding and longer repayment tenure.

A two-month deferment of EMI will also bring advantage to car customers who currently are under resource crunch amidst the Covid-19 pandemic, the company said.

CIFCL is one of the leading non-banking financial companies.

“The partnership with Cholamandalam Investment & Finance company 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," Shashank Srivastava, Executive Director (Marketing & Sales), MSIL, said.

He said the “Buy-Now-Pay-Later Offer” will encourage customers towards car purchase without putting immediate pressure on their pockets.

The offer will also make the process of car buying more convenient in these unprecedented times. 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, MSIL said.

The offer is available on select Maruti Suzuki models and will be applicable on loan disbursement till June 30.

Published on May 22, 2020

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