Mahindra First Choice Wheels Limited, an organised pre-owned car retailing company, has signed an MoU with Syndicate Bank for financing the purchase of vehicles by dealers and retail customers.

“This facility of financing at attractive rates, from Syndicate Bank, will help us provide consumers a hassle-free experience in purchase of certified pre-owned cars”, said Shubhabrata Saha, CEO, Mahindra First Choice Wheels Limited, in a statement.

“This agreement is the first of its kind for financing of pre-owned cars and it will help us expand our business under inventory funding for dealers of four wheeler manufacturers, as well as for the retail portfolio”, said S Ramachandran, Executive Director, Syndicate Bank.