Trek Bicycle has joined hands with Bajaj Finance Limited to make its global products easily accessible to consumers across demographics, regions and lifestyles in India. The American manufacturer has come-up with an innovative consumer finance program that will offer ZERO Down Payment and NO-COST EMI to consumers buying Trek products from its authorized retail stores across the country. Trek already has more than 26,000 consumers in the Indian market and it recently launched its 100 percent subsidiary operations.
On the tie-up, Navneet Banka, Country Manager, Trek Bicycle India said, “India is a key market for Trek and we are excited to bring the most technologically advanced bicycles in the world through our subsidiary operations in the country. Our focus is to grow this segment by providing a great buying and ownership experience, while promoting the sport of leisure and competitive cycling in India. This customized finance program with Bajaj Finance Limited will provide consumers a NO-COST option to buy the products they love; pay in easy monthly installments and simultaneously use the bike to stay fit in a fun & social way.” Known as the most technologically advanced bicycling company in the world, the company currently offers 42 bicycle models across Road, Mountain, and Hybrid categories.
Also, speaking on the association, Manoj Madan, Business Head, Bajaj Finance LTD - Lifestyle Finance, “The synergy aims to provide a frictionless purchase experience by offering variety of bicycle models along with convenience of availing finance for the same. This is a step toward making technologically advanced bicycle available for customer with a convenient payment option. The initiative reinforces our commitment of increasing the affordability and catering the aspirational needs of the customers.” It offers a wide range of Trek and Bontrager parts, accessories, merchandise, and riding gear and is available in 19 stores across Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Ahmedabad, Ghaziabad, Goa, Haldwani, Indore, Ludhiana, Mangalore, Nagpur, Nashik, Patiala and Visakhapatnam. Below is a summary of the finance scheme:
6 by 0 scheme:
a) 0 down payment
b) Pay entire amount in 6 EMIs for bike invoice price between Rs. 25,000 to Rs. 35,000
10 by 2 scheme
a) 20 percent down payment (or 2 months down payment)
b) Pay rest amount in 8 EMIs for bike invoice price between Rs. 35,001 to Rs. 75,000
12 by 4 scheme*
a) 33 percent down payment (or 4 months down payment)
b) Pay rest amount in 8 EMIs for bike invoice price Rs. 75,001 and above