Maruti ties up with Mahindra Finance for vehicle loans

Maruti Suzuki India (MSI) on Tuesday said it has joined hands with Mahindra Finance for vehicle loans. As per the tie-up, customers can avail wide options for getting their car financed from Mahindra Finance, MSI said in a statement.

The companies have come together to ease the availability of finance for customers looking at personal mobility solutions during the ongoing COVID-19 pandemic, it added. "Mahindra Finance is a very well networked non-banking finance company (NBFC) across India and has the expertise in lending across all profiles including semi-rural, rural, and no-income proof customers," MSI Executive Director (Marketing and Sales) Shashank Srivastava said.

More than one-third of Maruti's retail sales come from rural India, he added. Customers will benefit from the range of offers like buy now and pay later, step-up EMI, and balloon EMI, he added.

MSI has a dealer network of over 3,086 showrooms across the country while Mahindra Finance has a network of 1,450 branches. The partnership would support all the customer segments salaried, self-employed, agriculturists, and businessmen to purchase cars, the auto major said.