Mahindra & Mahindra launches leasing service for retail buyers of personal range of vehicles

Automobile major Mahindra & Mahindra (M&M) on Wednesday launched the leasing service for retail buyers of its personal range of vehicles.

According to the company, the lease rental service starts at Rs 13,499 per month for KUV100NXT and Rs 32,999 per month for XUV500.

"The benefits of leasing to the customers include total convenience, lower or no down payment, zero risks on the resale value of the vehicle and a fixed EMI inclusive of maintenance cost," the company said in a statement.

"As a result, leasing is gaining increasing acceptance in the market and offers greater convenience compared to actually owning a car."

As per the statement, lease offer will cater to individual leasing for working professionals and SMEs and will be available across 6 cities namely- Pune, Ahmedabad, Bangalore, Hyderabad, Mumbai and New Delhi in the first phase of launch.

"In its next phase, the lease offer will be extended to 19 more cities across India. The lease offer will be available on Mahindra's personal portfolio of vehicles such as the KUV100, TUV300, Scorpio, Marazzo and XUV500," the statement said.

(With inputs from agencies.)