Maruti Suzuki’s state-of-the-art online car financing solution – Maruti Suzuki Smart Finance has received a phenomenal customer response. Over 1 lakh customers across India, have availed their online loan sanctions through Maruti Suzuki Smart Finance within 9 months of its introduction. Through this initiative Maruti Suzuki has digitalized 24 out of 26 touchpoints in a customer’s car purchase journey and has changed the way India finances its cars.
Maruti Suzuki was the first automobile company to introduce a multi financier, end-to-end, unique, online car financing solution, with a real-time loan tracking facility for its customers. It offers a hassle free and transparent solution that helps customers complete their car financing process with just a few clicks. The platform comes with a line-up of industry-first features like credit score-based interest rates, pre-approved and custom generated loan offers from multiple financiers, online documents sharing with real-time loan status tracking. To offer a comprehensive solution Maruti Suzuki Smart Finance has an integrated car exchange journey and an option for Co-applicant financing. The entire process is completely transparent with no hidden fees or associated charges.
Mr. Shashank Srivastava, Senior Executive Director (Marketing & Sales), Maruti Suzuki India Limited, said, “The recent pandemic induced digital acceleration has paved way for innovative and robust digital solutions like Maruti Suzuki Smart Finance. When we began the Smart Finance initiative, we were driven by our vision of completely transforming and curating car-buying experience that is aligned to the demands of digital age customers. Maruti Suzuki Smart Finance, as a concept, is a true disruptor in the market and it is heartening to see it being widely accepted by customers. Crossing over 1 lakh loan disbursals, amounting to more than INR 6500 crore, in such a short period is a significant achievement and heralds a fundamental shift towards a digital-first customer experience. Maruti Suzuki Smart Finance is yet another step by Maruti Suzuki to enhance the customer car buying experience with new and innovative solutions to offer ease of buying in their purchase journey.”
Maruti Suzuki Smart Finance is available to all Arena and NEXA customers and over 34 lakh customers have visited the platform, since its launch. The company has already on boarded 16 financiers within a short span. Our partners are: HDFC Bank, ICICI Bank, Yes Bank, Axis Bank, State Bank of India, IndusInd Bank, Bank of Baroda, Cholamandalam Finance, AU Small Finance Bank, Mahindra Finance, Kotak Mahindra Prime, Sundaram Finance, HDB Financial services, Karur Vyasa Bank Federal Bank and Toyota Financial Services (India)
Through Maruti Suzuki Smart Finance, the company aims to simplify the car financing and making it more transparent, by empowering the customer to design their own customized loan plan and selecting the best suited finance partner from a bouquet of financing options.