Maruti Suzuki Launched Online Financing Platform To Attract Indian Car Buyers

India is fast recovering from COVID pandemic. With COVID Vaccine getting easily accessible by all, most of the experts believe that the spending power of Indians will also bounce back along with the growth of the economy.  The auto industry in India has a major blow and is expected to recover as well. Industry leaders are working day and night on this and ensuring every possible step to bring back their happy customers in car showrooms. In this bid, Maruti Suzuki India has launched of its online financing platform -- Smart Finance, for Maruti Suzuki ARENA customers across more than 30 cities. This will ease the process of car loans and car financing in India.

A company statement said that with the launch of Smart Finance, 24 out of 26 steps in the customer vehicle purchase journey have been digitised.

"Smart Finance offers customers a 'ONE-STOP-SHOP' solution for vehicle finance needs. The services include the option to choose among wide range of finance products based on customer needs, selecting the best-suited loan product, completion of all finance related formalities and disbursal of loan, with just a few clicks," it said.

Maruti Suzuki website will act as a facilitator between the customer and the financier providing real-time status updates and in turn, provide a hassle-free and transparent financing solution.

Going forward, different structured schemes such as balloon and step-up offers, among others can also be reviewed on one screen.

For this, Maruti Suzuki has currently partnered with twelve financiers -- State Bank of India, HDFC Bank, Mahindra Finance, ICICI Bank, IndusInd Bank, Bank of Baroda, Cholamandalam Finance, Kotak Mahindra Prime, Axis Bank, AU Small Finance Bank, Yes Bank and HDB Financial Services. Subsequently, the company will on-board other key financiers, it said.

Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki India said: "We are overwhelmed with the response to our Smart Finance platform from our NEXA customers. Now, we want to extend the ease of a car buying journey for our ARENA customers as well. The pandemic situation in the country has further increased the usage of digital platforms. With Smart Finance, we aim to reach out to a larger audience, assist them and make every stage of the loan process transparent."

The Smart Finance service is now available for ARENA customers in over 30 cities including Delhi-NCR, Jaipur, Ahmedabad, Pune, Mumbai, Bangalore, Chennai, Hyderabad, Lucknow, Indore, Kolkata, Cochin, Chandigarh and Guwahati.