>Automotive Finance

Thinking Outside the Auto-box

Mahindra’s Automotive Sector has just announced a wide variety of innovative, new finance schemes to ease the burden on its customers. The schemes include customised, industry-first offerings that assure peace of mind for Mahindra customers, deliver financial flexibility and empower them to own their desired Mahindra vehicle model at their convenience.

Speaking about the 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. These schemes aim to provide financial flexibility and peace of mind to our customers, especially for our COVID warriors who are providing unparalleled support at this point in time. 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.”

Mahindra is empowering its customers by offering a host of finance schemes through various financial institutions:

  • Special Finance Schemes for COVID Warriors
    • Doctors: 50% processing fee waiver and the option to buy now, pay later (90 days moratorium)
    • Police: High funding scheme for police personnel
    • 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:
    • First 3 low EMIs
    • Pay 50% less EMI for 3 months for every year of the loan tenure
    • 25% of loan payment at the end of the loan tenure
    • EMI starting from as low as INR1,234/ 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
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