Easy car loans for customers through Maruti & HDFC partnership
Maruti Suzuki India Limited (MSIL)and HDB Financial Services Limited (HDBFS), have partnered to provide easy car loans to customers.
Maruti has tied up with HDBFC to provide loans for new and used cars. The tie up will facilitate loans for both new and used cars. Besides having 3,066 new car shorooms Maruti also has 569 True Value outlets. True Value outlets are not limited to sale of Maruti cars only. It is a multi-brand used car sales outlet.
As you may hav guessed already, HDB Financial Services Limited is a subsidiary of HDFC Bank and has a large good penetration thrugh its wide network in towns and cities.
Mr. Shashank Srivastava, Executive Director (Marketing & Sales), MSIL pointed out that for convenience of customers their retail outlets offer all services including, finance, insurance and accessories under one umbrella. Maruti plans to penetrat deeper into rural India through the strong rural presence of HDBFS
By providing access to easy finance, Mr. G Ramesh, MD & CEO, HDB Financial Services sees huge potential in the deep geographies, first time buyers and other underserved-segments as a means to boost automobile sales.
Are easy car loans good?
It is a two edged sword that can, on one hand, cut through the automobile industry slump and through limitations of the consumer to own a car. As buying a car is a big decision with most people in India, it is a good, but natural, move by automobile companies to make it easier for people to actually make that purchase. Loans are basically enablers for the consumer and the easier they come the faster they will be received.