Industry

M&M aims to spur demand with deferred payment offer

Under ‘buy now, pay in 2021’, customers to pay 25% upfront

Mahindra & Mahindra Ltd. (M&M) has announced several finance schemes to boost demand for its range of SUVs and other vehicles.

The finance schemes include ‘own now, pay in 2021’, 90 days’ moratorium, special schemes for women, 100% on-road financing and an 8-year loan tenure.

Eight EMI holidays

Under the ‘buy now and pay in 2021’ scheme, the buyer needs to make an initial payment of 25% of the ex-showroom price of the vehicle to get eight EMI holidays.

The rest of the payment, along with interest, is payable in 52 EMIs. It has come out with special schemes for doctors, police personnel and essential service providers. Besides, the company is offering a BS-VI pick-up at the same EMI as the earlier BS-IV model. Veejay Nakra, CEO, automotive division, M&M, 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-19 warriors who are providing unparalleled support at this point in time,” he said.

“Together with the various digital interventions which Mahindra has recently announced in sales and service, these offerings will provide our customers with a holistic buying and owning experience for a Mahindra vehicle,” he added.

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Printable version | Jun 7, 2020 12:07:04 AM | https://www.thehindu.com/business/Industry/mm-aims-to-spur-demand-with-deferred-payment-offer/article31626446.ece

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