Major Automobile Financiers

One of the important reasons that can be attributed to the emergence of the Indian automobile markets as one of the fastest growing and attractive ones is the availability of automobile finance. Though buying and owning an automobile is an option that many in India would like to have but the lack of financial means ensure that most of them do not even give a serious thought to it while the automobile companies miss out on the lucrative and huge market. The provision of finance from the major automobile financiers in the recent times has seen the coming of Indian automobile market of its age.
Some of the leading names in the field of car and two wheeler finance include the likes of Citicorp Maruti, Apeejay Finance, Sundaram Finance, Apex Financial, Kotak Mahindra Primus . Sensing the huge business opportunities in the segment, even the nationalized public sector banks have joined the bandwagon. The largest bank in India, State Bank of India has come up with quite a few attractive two wheeler, car and commercial vehicle financing schemes. Other banks like Union Bank of India, Punjab National Bank, ICICI Bank, HDFC Bank too have made significant forays in the field of automobile financiers.

Tata Finance and Bajaj Finance too, have emerged as some of the major automobile financiers. The involvement of leading automobile players explicitly as automobile finance providers has given a new dimension to the whole business as such companies offer the financing support only for vehicles of their own brand, adding implicitly to the market share and growth of the company's business.

Contribution of Automobile Financiers to the Indian Automobile Market

• The issue of financial support and help for the consumer has been taken care of.
• A consumer has been assured of his/her ability to buy an automobile depending upon the need and ability to pay.
• The provision of automobile finance has ensured that the market grows substantially as both the manufacturers and consumers get benefits.
• The market for both new and used vehicles too has grown and buyers can opt for either depending upon the needs.
• The facility of financing by the major automobile financiers has acted as a catalyst to the growth of the automobile sector as a whole, contributing to the overall economic growth and prosperity of the country.

The terms, conditions and overall financing criterion varies from one automobile financier to another, depending upon the duration of payment, the borrower and the model of the concerned automobile. To have a detailed insight into the financing mode and relevant regulations, keep browsing through the pages of automobileindia.com.

For more information on Major Automobile Financiers please click on the following links

• Maruti Finance
• Tata Motors Finance