Mercedes-Benz India’s ‘Wishbox 2.0’ to open up repayment schemes for buyers

Our Bureau Chennai | Updated on May 25, 2020

Martin Schwenk, MD & CEO, Mercedes-Benz India   -  BL

Top luxury car-maker Mercedes-Benz India Ltd has come out with what it calls “Wishbox 2.0” that will offer flexible and easier financing solutions for prospective buyers of select models.

Wishbox 2.0 comprises three key elements — no EMI for the first three months, Step-Up 2020 and 10-year extended loan.

“As the markets across the country start reopening and operations begin in a graded manner, we are introducing ‘Wishbox 2.0’, a host of customised and highly flexible financial solutions, aimed at reinstalling customer confidence and empowering them to buy their Mercedes. These smart financing solutions are one-of-its-kind and are our own way of supporting our customers’ investments and addressing the prevalent market challenges,” said Martin Schwenk, MD & CEO, Mercedes-Benz India Ltd.

Financing help

Wishbox 2.0 is applicable on purchase of select models that include the C-Class, E-Class and GLC. Under the first scheme, buyerswill be exempted from paying EMI for the first three months. EMIs will commence only after the three-month period of the 3/4/5 year loan tenure as desired by the customer.

In a first of its kind initiative, Mercedes-Benz is also extending a customer’s loan tenure to 10 years. This financial solution is based on five-year agility and five-year refinance, and an amalgamation of two contracts. The customer can also opt for a guaranteed buy-back after five years and avail of the benefit of lowest per lakh EMI of ₹1,499.

The ‘Step-Up 2020’ will help the customers to opt for a payment option suiting her/his financial convenience based on the availability of liquidity. It will offer a small sum as the EMIs for the first six months of the contract and regular EMIs starts from the seventh month.

“This offer relieves the customer of any financial stress and builds the confidence for making the purchase,” said Schwenk.

Mercedes is the first company in the luxury segment to announce such financing solutions for its buyers.

“We are swiftly getting back to business with gradual re-opening of our dealerships across markets following all the social distancing protocols and adhering to all safety and sanitization measures. We are confident, we will be able to operationalise the remaining outlets following the local authorities’ directives, soon,” Schwenk added.

In mass passenger vehicle market, Hyundai, Maruti and few others have announced flexible financing solutions for the prospective car buyers.

Published on May 25, 2020

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