Maruti Suzuki Introduces Online Car Finance Platform: Available Exclusively For Its NEXA Models

The new service will offer customers an end-to-end, real-time online car finance facility. Maruti Suzuki claims that they are the first OEM in India to offer such a service for their customers. The new initiative will see NEXA customers being offered with a comprehensive finance solution and simplify their car purchasing journey, with a host of finance options.

Maruti Suzuki states that they are determined to invest in and introduce new technologies to simplify the car purchasing journey for customers. The new initiative will digitalise the process and offer customers enormous flexibility as well.

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 personalized 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 customize the EMI, by choosing the loan tenure and interest rate and selecting a preferred down-payment scheme."

Maruti Suzuki has partnered with eight banks to offer a wide range of scenarios for car loans, while also being able to make an informed choice regarding loan partner and amount. The financiers tied-up with Maruti Suzuki include HDFC Bank, Yes Bank, ICICI Bank, Induslnd Bank, Cholamandalam Finance, AU Finance Bank, Mahindra Finance and Kotak Mahindra Prime.

The company has already initiated a pilot program for Smart Finance in Gurugram. Maruti Suzuki has already begun improving its process, based on the feedback received.

As mentioned before, the Smart Finance service will initially be available in 30 cities across India for NEXA customers. Maruti Suzuki will also introduce the service for its Arena customers at a slightly later stage.

Thoughts On The Maruti Suzuki Smart Finance Service

Maruti Suzuki has been digitalising many of their processes over time, ensuring customers get the best offers and flexibility. The Smart Finance service is yet another example of offering a simplified purchase experience.