Mahindra & Mahindra launches schemes with special offers for COVID-19 frontline warriors

Mahindra & Mahindra on May 19 launched various finance schemes to help customers in buying its vehicle with ease during the coronavirus lockdown.

The company is targeting women buyers and corona warriors like doctors, cops and other with special offers such as 8-year loan term, 90-days moratorium on payment and 100 percent on-road funding. The schemes offer financial flexibility and enable the customers to own a Mahindra vehicle model at their convenience, the company said in a statement.

"The introduction of these unique financing schemes is one more step by Mahindra to support its customers during these challenging times. The bedrock of each one of our schemes is to provide financial flexibility and peace of mind to our customers, especially for our Corona Warriors who are providing unparalleled support at this point in time," said Veejay Nakra, CEO (automotive division), M&M Ltd.

Together with various digital interventions that Mahindra has recently announced both in its sales and service, these offerings will provide the customers with a holistic buying and owning experience for a Mahindra vehicle, he said.

The schemes include 50 percent waiver on the processing fee and the option to "buy now, pay later" (with 90-day moratorium on payment) for the doctors' community, high funding scheme for police personnel while women customers will be entitled to a 10-basis point discount on the financing cost, according to the company.

The auto maker also offers customers to own a BSVI-compliant pick-up and pay the same EMI as that of BS-IV vehicle while an SUV customer can also own the vehicle now and start paying the EMI from 2021, it added.

Under another scheme, the EMI for a financed vehicle starts from as low as Rs 1,234 per lakh as well, it said.

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