Maruti Suzuki launches India’s first multi-financier, online car financing platform in NEXA
Updated: Dec 28, 2020 1:08 PM
With the launch of Smart Finance, the customers now have the option to compare loan offers from multiple financiers, customise the loan offering as per their needs, upload documents and check the loan approval status real time.
Something you cannot miss: Maruti Suzuki's Smart Finance service.
In a first-of-its-kind initiative, Maruti Suzuki has launched the Smart Finance service to offer an online, end-to-end, real time car finance service facility. Undeterred by the pandemic, Maruti Suzuki aims to simplify and digitalise the customer’s car buying journey with a bouquet of financing options for NEXA customers across 30 cities. The innovative service offers a one-stop convenient online platform for customers to compare loan offerings from multiple financiers.
Maruti Suzuki, which is the country’s first OEM to offer the service, continues to be a trailblazer by investing in new technologies and systems to simplify the car buying journey and provide delight at each stage. This initiative strengthens the digitisation efforts and offers enormous flexibility by empowering customers to make an informed choice.
With the launch of Smart Finance, the customers now have the option to compare loan offers from multiple financiers, customize the loan offering as per their needs and upload the documents, with just a few clicks.
Currently hosted on www.nexaexperience.com, the platform offers customers the ease of a one-stop-shop for their complete vehicle finance needs. Customers can pick the financier of their choice, browse pre-approved and custom generated loan offers, select the best suited loan product, complete all finance related formalities with digital document sharing and secure disbursal of the loan, with just a few clicks. The NEXA website will act as a facilitator between the customer and financier, providing a wide variety of choices on the loan offers, real time status updates and in turn providing a hassle-free and transparent financing solution.
Speaking on the new initiative, Kenichi Ayukawa, Managing Director and CEO, Maruti Suzuki India said, “We have always explored unique ways to assist our customers in their car buying journey. Under the Smart Finance platform, currently hosted on the NEXA website, we have partnered with several popular financiers to provide custom curated personalised loan offers for our customers. This digital service offers easy financing options and is completely transparent at each stage of the loan process. Among other advantages, the customer gets to customise the EMI, by choosing the loan tenure and interest rate and select a preferred down-payment scheme.”
For this, Maruti Suzuki has currently partnered with eight financiers: HDFC Bank, Yes Bank, ICICI, IndusInd Bank, Cholamandalam Finance, AU Small Finance Bank, Mahindra Finance and Kotak Mahindra Prime. Subsequently, Maruti Suzuki will on-board other key financiers. The improved transparency around the loan offers and related charges empowers the customer to make the right decision in a very convenient manner.
With customer centricity a key mantra for Maruti Suzuki, the pilot for Smart Finance was carried out in Gurugram. In order to simplify the process and to provide a seamless experience ‘a mobile friendly/led interface’ was the key integration, basis the learning from this PILOT phase.
The Smart Finance service is now available for NEXA customers, for salaried employees, in 30 cities including Delhi, Gurugram, Lucknow, Jaipur, Mumbai, Pune, Ahmedabad, Chennai, Bangalore, Hyderabad, Indore, Kolkata, Cochin, Chandigarh, Guwahati, Goa, Bhubaneswar, Bhopal, Coimbatore, Surat, Vadodara, Ranchi, Raipur, Nagpur, Trivandrum, Vishakhapatnam, Udaipur, Kanpur, Vijayawada, and Dehradun.
Progressively, it will be offered for ARENA customers, along with the addition of new financiers, inclusion of self-employed profiling and extension to new cities in this digital finance journey.