In order to boost sales, Maruti Suzuki has launched a new online car financing platform for prospective customers intending to purchase cars from the company’s Nexa range. Launched in 30 cities for the beginning, the Smart Finance program offers a comprehensive end-to-end real-time car finance facility and will soon be expanded for the Arena customers with the inclusion of new financers.
Under this service, customers intending to buy a Nexa car can visit the brand’s online portal. On Nexa’s official website, customers can choose their desired car and proceed to select curated finance partners and loan offers. Maruti Suzuki has currently partnered with eight financers, namely, HDFC Bank, Yes Bank, ICICI Bank, IndusInd Bank, Cholamandalam Finance, AU Small Finance Bank, Mahindra Finance, and Kotak Mahindra Prime.
Speaking on the new initiative, Mr. Kenichi Ayukawa, Managing Director and CEO, Maruti Suzuki India said, “We have always explored unique ways to assist our customers in their car buying journey. Under the Smart Finance platform, currently hosted on the NEXA website, we have partnered with several popular financiers to provide custom curated personalised loan offers for our customers. This digital service offers easy financing options and is completely transparent at each stage of the loan process. Among other advantages, the customer gets to customise the EMI, by choosing the loan tenure and interest rate and select a preferred down-payment scheme.”
Buyers have the option to compare different car loan offerings, customisable loan tenure, EMI amount, and interest rate to best suit their preferences. Post this, one can also upload the loan availing papers online after which the verification procedure is completed by the financer with scheduled home visit. The Nexa website acts as a mediator between the customer and finance providers. This service has begun in 30 cities including Delhi, Gurugram, Lucknow, Jaipur, Mumbai, Pune, Ahmedabad, Chennai, Bangalore, Hyderabad, Indore, Kolkata, Cochin, Chandigarh, Guwahati, Goa, Bhubaneswar, Bhopal, Coimbatore, Surat, Vadodara, Ranchi, Raipur, Nagpur, Trivandrum, Vishakhapatnam, Udaipur, Kanpur, Vijayawada, and Dehradun.