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Maruti Suzuki rolls out online Smart Finance service

Will not defend market share but also charge at competition: Maruti Suzuki

Maruti Suzuki India has introduced “Smart Finance” online service for its Arena and Nexa prospective customers in order to offer end-to-end car financing solutions and will be available across the country.

The Maruti Suzuki Smart Finance scheme offers a set op options starting from choosing the finance partner, selecting the best loan product, completing all finance related formalities and disbursal of loan.

Shashank Srivastava, Senior Executive Director, Marketing and Sales, Maruti Suzuki India said, “Even before walking into a car dealership, most potential buyers already start their shopping process online — browsing cars and finance options. Keeping in view the changing customer behavior, we have launched Maruti Suzuki Smart Finance – India’s first ground-breaking digital platform that enables customers with an end-to-end online car financing solution. To enhance the consumer experience, we have included several industry-first features in the platform.”

Further he added, “We had done a pilot project in limited cities last year. The response from customers has been encouraging. More than 25 lakh customers have visited Maruti Suzuki Smart Finance platform since its inception. Over 1,60,000 customers configured on-road price and more than 40,000 customers have downloaded the finance sanction letter online. This gave us the confidence to launch it pan India with 14 partner financiers offering personalized financing options for our customers.”

“To make online car financing more comprehensive, Maruti Suzuki Smart Finance has an integrated exchange customer journey. This will empower the customers to get an estimated value of their old cars in case of a replacement purchase. The company is planning to add more financiers and structured finance products, in future enhancements, to provide an unparalleled car financing experience to the customers,” the company said in a statement.

The Maruti Suzuki Smart Finance Service has currently 14 financial institutions empaneled including HDFC Bank, ICICI Bank, Yes Bank, Axis Bank, State Bank of India, IndusInd Bank, Bank of Baroda, Karur Vyasa Bank, Cholamandalam Finance, AU Small Finance Bank, Mahindra Finance, Kotak Mahindra Prime, Sundaram Finance, and HDB Financial services.

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