New Delhi: With a view to improve its dwindling sales figures, Maruti-Suzuki, India’s top car seller has announced a ‘Buy Now Pay Later Offer’ through which customers can get easy finance for buying cars with a two month EMI moratorium facility. The company has launched the scheme in collaboration with Cholamandalam Investment & Finance Company Limited (CIFCL), one of the leading Non-Banking Financial Companies in India.
A two-month deferment of EMI will bring advantage to car customers who currently are under resource crunch amidst the COVID-19 pandemic. The offer is available on select Maruti Suzuki models and will be applicable on loan disbursement till 30th June 2020.
“…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” Mr. Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki said.
The company had reported zero sales in the Month of April and 48% drop in March sales due to lockdown restrictions and closure of its manufacturing facility.