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Mahindra has introduced a few attractive finance schemes to promote the sales of their models amid the pandemic. The new finance schemes were introduced to further strengthen both online sales and showroom floor sales. The former was introduced recently to increase the overall sales during the ongoing pandemic.
One of the biggest advantages Mahindra has over its competitors is that the company has its own financial institution, and this new range of offers is the biggest example of Mahindra utilising it to the fullest.
Under the newly proposed finance scheme, customers can avail different offers to own a Mahindra UV. Under the new financial scheme is a plan called "Own Now and Pay after 90 days." The buyer can purchase a Mahindra vehicle and pay the first EMI only after 3 months from the date of purchase.
There are other attractive offers where the buyer can book the vehicle online and avail additional accessories worth Rs 3,000 and Rs 2,000. Then there are benefits for online loan sanctions.
Other financial schemes include a low 7.25% interest rate scheme, Funding on accessories and extended warranty, zero foreclosure charges, eight-year repayment scheme, low EMI of Rs 799/lakh scheme and the 100 percent on-road funding scheme.
The 100 percent on-road funding scheme allows buyers to drive away a Mahindra UV without a rupee of down payment. By introducing such lucrative finance schemes, Mahindra plans to attract more buyers and improve sales numbers.
Thoughts On Mahindra Introducing New Finance Schemes
Of all the finance schemes, it is the 100% on-road funding scheme that will attract a new car buyer the most. However, we are not sure what the prerequisites are for this scheme to be valid. It is almost certain that the credit scores of the buyer will play a huge role in availing these benefits.