Mahindra Launches ” Own Now Pay In 2021″ Offer

Mahindra & Mahindra Ltd , today announced a wide variety of innovative, new finance schemes to ease the burden on its customers during these challenging times , which include, customized, industry-first offerings that assure peace of mind for Mahindra customers, deliver financial flexibility and allow  them to own their desired Mahindra vehicle model at their convenience.

New photo by Motor World India / Google Photos

Speaking about these new finance schemes, Veejay Nakra, CEO, Automotive Division, M&M Ltd. said, “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 Covid warriors who are providing unparalleled support at this point in time. Together with the various digital interventions which Mahindra has recently announced both in its sales and service, these offerings will provide our customers with a holistic buying and owing experience for a Mahindra vehicle”.

The new schemes are as follows –  

  • Special Finance Schemes for COVID Warriors
    • Doctors – 50% Processing Fee Waiver and the option to Buy Now, Pay Later (90 days moratorium)
    • Police – High funding scheme for Police personnel
    • Pickup Vehicle Owners (ESP) – Own a BSVI Mahindra Pikup and pay the same EMI as a BSIV vehicle
  • Own Now, Pay in 2021– Own your SUV today and start paying the EMI next year
  • 90 Days Moratorium – Own your SUV today and start paying the EMI after 90 days
  • 100% On Road Funding – Up to 100% of on-road funding for Mahindra SUVs
  • Empowering Women with Special Schemes – 10 bps discount on the rate of interest
  • Balloon and Step Up EMI offering to lower the monthly payments – 
    • First 3 low EMIs
    • Pay 50% Less EMI for 3 months for every year of the loan tenure
    • 25% of loan payment at the end of the loan tenure
    • EMI starting from as low as Rs. 1,234/ per lakh
  • Highest Loan Tenure – Loan Repayment after 8 years
  • Lowest Interest Rate – Rate of interest starting from as low as 7.75%
  • Hassle-free Financing – No prepayment / foreclosure charges from the very first day
  • Yellow Board Funding – Taxi Funding available for a wide range of Mahindra SUVs

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