Maruti Finance

Maruti is the leading company in the Indian passenger car market. A market share of 54 per cent followed by a host of popular models in various segments like Maruti 800, Omni, Esteem, Baleno, Swift and the like has ensured that Maruti continues to be a major force in the Indian automobile market. However, to maintain its prominent position in the midst of increasingly expanding Indian automobile market and the entry of Indian and foreign auto majors, Maruti has come up with a number of innovations and Maruti Car Finance is one of the popular such option.As part of the Maruti car finance, the company has entered into tie-ups with leading banks and financial institutions in the country.Maruti provides for financing help with the State Bank of India (SBI), CitiBank, Kotak Mahindra Bank and a few othersIn addition to, Maruti Countrywide and Citicorp Maruti Finance are the two joint ventures of Maruti with the leading names like GE Capital and CitiBank that provides for financing and loan assistance for buying all categories of Maruti cars.

Some of the usual terms associated with the Maruti car finance are as follows:

• Car financing/loan options available for customers belonging to different categories
• The repayment period varies to the tune of 36 months-84 months
• The interest paid on the loans are on the lower end
• No processing costs relating to the car finance
• The loan amount is provided on the on-road price of the car and not the ex-showroom price
• The paperwork is limited and the financing company's representative can be called even at home to complete the formalities, including calculating the likely Equated Monthly Installment (EMI) that the customer might have to pay.

In addition to, Maruti has provisions for car financing with many of its dealers. They provide for loans based on the customer's potential to pay and are decided solely upon their discretion. In fact, one reason that is being attributed to the exponential growth in terms of sales of Maruti cars in India has been its wide and organized network of Maruti car finance. The company is continuously innovating and coming up with different and customized forms of car financing schemes and making the most of them.