• Finance schemes designed to provide customer with convenient repayment methods and encourage the purchase of new cars.
• These schemes are only available till June 30, 2020.

An increasing number of carmakers are introducing new finance schemes during these trying times, to encourage customers to purchase new cars and provide to provide them with more flexibility in repayment of loans. Maruti Suzuki is the latest carmaker to do so and has partnered with Cholamandalam Investment and Finance company to create these schemes.

Among these schemes is a ‘Buy Now Pay Later’ offer that allows customers to purchase the vehicle of choice now and begin paying its EMIs after 60 days (two months). There are also provisions for customers to avail an increased loan amount, of up to 90 percent of the on-road cost of the car, to minimise down payment. Lastly, Maruti is also offering a longer loan tenure to help reduce the EMI amount. All the above-mentioned schemes are only available till June 30, 2020.

Besides Maruti Suzuki, other carmakers like Hyundai, Mahindra, Renault, Tata and Datsun are also providing a number of finance schemes for their customers.

Maruti Suzuki is also preparing to launch the S-Cross with the 1.5-litre petrol engine, which replaces the old 1.3-litre diesel unit, once the nationwide lockdown ends.

Cars, SUVs set to launch post lockdown

No requirement for big discounts on cars for now: Maruti Suzuki chairman

Maruti Suzuki delivers over 5,000 cars in May