Maruti launches online car financing on Nexa platform

Maruti Suzuki India Limited on December 9 launched a smart finance service for Nexa customers across 30 cities.

With the launch of ‘Smart Finance’, Maruti Suzuki has become India’s first OEM to offer an online, end-to-end, real time car finance service facility, said a press release issued by the carmaker.  

Maruti Suzuki Smart Finance will offer comprehensive finance solution online. It aims to simplify and digitalise the customer’s car buying journey with a bouquet of financing options.

It will offer customers the convenience of a one-stop shop for their entire vehicle finance needs. The services include choosing the right finance partner, selecting the best suited loan product, completion of all the finance related formalities and disbursal of the loan, with just a few clicks. The Nexa website will act as a facilitator between the customer and the financier providing wide variety of choices on the loan offers, real time status updates and in turn providing a hassle free and transparent financing solution.

Speaking on the new initiative, Mr. 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.”

For this service, Maruti Suzuki has currently partnered with eight financiers: HDFC Bank, Yes Bank, ICCI Bank, IndusInd Bank, Cholamandalam Finance, AU Small Finance Bank, Mahindra Finance and Kotak Mahindra Prime. Subsequently, it will on-board other key financiers, said the release.