India’s largest carmaker Maruti Suzuki India has announced to have joined hands with Muthoot Vehicle and Assest Finance (MVFL) in order to enable customers avail a 100 per cent finance for Maruti cars. The MoU was signed between Tarun Garg, vice president of sales, Maruti Suzuku and George Alexander Muthoot, managing director of Muthoot Group.
Termed as the first-of-its-kind finance scheme, the ‘Muthot Maruti Gold to Car Scheme’ (MMG) will give Maruti customers 100 per cent on road financing for their cars. The vehicles would be funded by MVFL and the down payment for the car would be financed by Muthoot Finance. The initiative has been coined, keeping in mind the large section of the consumers who cannot arrange for an immediate down payment for a car purchase.
George Alexander Muthoot said that would be a ‘win-win’ initiative for Muthoot, Maruti and the customers. The tie-up would be beneficial to salaried customers, business profile customers, no income proof customers and NRIs with suitable guarantors.
MVFL operates in India through a network of 39 branches across 13 districts in Kerala. The company has made considerable forays into financing of used and new commercial vehicles, passenger and goods autos, earth moving equipment and tippers.
