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Maruti Suzuki Announces Online Car Financing Platform For Nexa Customers

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Maruti Suzuki became India's first OEM to offer online, end-to-end, real-time car finance service facility.

The platform aims to simplify and digitalise the customers' car buying experience expand View Photos
The platform aims to simplify and digitalise the customers' car buying experience

Highlights

  • The Smart Finance service for Nexa customers available across 30 cities
  • Maruti Suzuki's platform offers comprehensive finance solutions online
  • It will provide real time status updates on loan application

The country's leading auto manufacturer Maruti Suzuki announced the launch of 'Smart Finance' platform for Nexa customers. This service will offer an online, end-to-end, real-time car finance service facility. Maruti Suzuki India has become the first OEM in India to offer such financing initiative for its customers. The Indo-Japanese carmaker aims to simplify and digitalise the customer's car buying experience with this comprehensive online finance solution. This initiative will strengthen the digitisation efforts and offers enormous flexibility to the customers.

Also Read: Maruti Suzuki Registers 6 Per Cent Production Growth In November 2020​

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Maruti Suzuki's Nexa website will act as a facilitator between the customer and financier

Maruti Suzuki's Smart Finance service is available for Nexa customers in 30 cities. It includes 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.

The company has partnered with eight financiers for this initiative, which includes HDFC Bank, Yes Bank, ICCI Bank, IndusInd Bank, Cholamandalam Finance, AU Small Finance Bank, Mahindra Finance and Kotak Mahindra Prime. The carmaker will add other key financiers as well. Progressively, the carmaker will introduce this Smart Finance service for the Arena customers as well. It will also see an addition of new financiers, addition of self-employed profiling and extension to new cities.

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The buyer will be able to compare multiple scenarios for his car loan

This platform will serve the customer with a one-stop-shop for their entire vehicle financial needs that can be availed with just a few clicks. The services bring convenience to the customers starting from choosing the right finance partner to best-suited loan product. The platform will take care of formalities related to completion and disbursal of the loan. Maruti Suzuki's Nexa website will act as a facilitator between the customer and financier for a hassle-free and transparent financing solution. The buyer will be able to compare multiple scenarios for his car loan and make a conversant choice of loan partner as well as tenure.

Also Read: Car Sales November 2020: Maruti Suzuki Domestic Sales Decline By 2.4% Y-o-Y​

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Speaking on the new initiative, 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."

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