Car makers gear up to push sales
Offer flexi loans, 100% on-road finance, EMI holiday
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Vijay C Roy
Tribune News Service
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Chandigarh, July 9
Amid slump in auto sales, car makers are wooing customers with attractive options such as zero-down payment, 100% on-road finance and EMI holiday to push sales.
Tata Motors has introduced a scheme under which customers can buy a car with zero down payment, avail six-month EMI holiday (only interest needs to be serviced monthly) and access up to 100% on-road finance for five years. Similarly, Maruti has tied up with Axis Bank to offer 100% on-road finance for up to eight years.
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Shashank Srivastava, Executive Director, Maruti Suzuki India, said, “Concerns over safety and maintaining social distancing have increased the demand for a personal vehicle. We are confident this tie-up will offer a convenient, affordable and cost-effective finance solution to our customers.”
Earlier, Maruti had partnered with ICICI Bank, HDFC Bank, IndusInd Bank, Karur Vysya Bank and Mahindra Finance for finance options.
Honda Cars India has also partnered with HDFC Bank and Kotak Mahindra Prime for finance options.
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