Under the new initiative, the Mahindra KUV100 NXT can be leased at a monthly rental starting at Rs 13,499 and the XUV500 can be leased at a monthly rental of Rs 32,999. The leasing will also include maintenance cost, road tax, insurance, on-road assistance and accidental repairs.
The leasing scheme also offers the flexibility to the customers by allowing them to upgrade the models. After the leasing period comes to an end, the customer can return the vehicle to the company without the hassle of re-selling the vehicle and can get a new vehicle.
Initially, Mahindra's leasing scheme will be available in six cities: Pune, Ahmedabad, Bangalore, Hyderabad, Mumbai and New Delhi. The lease offering will cater to individual leasing for working professionals and SMEs. In the next phase, the leasing scheme will be extended to 19 more cities across India.
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In the second phase, Mahindra will also offer the KUV100, TUV300, Scorpio and Marazzo for leasing. Mahindra has partnered with Orix and ALD Automotive to offer the leasing scheme. The leased vehicle will be available for a period of up to five years depending on the city and model selected.
V S Parthasarathy, Group CFO and Group CIO, Mahindra & Mahindra said, "Our Leasing model is a category-creating product offering, a 'no-worry' experience for customers who prefer convenience over ownership. It aims to bring a new class of customers, including professionals, small businessmen and millennials, into the M&M car experience - who were waiting on the sidelines."
Thoughts On Mahindra's Leasing Scheme
Mahindra & Mahindra has launched a unique leasing scheme to retail its SUVs. With the leasing option, the ownership experience of a Mahindra SUV has become affordable and convenience. The prominent highlight of the leasing scheme is it includes all the maintenance cost.
Mahindra & Mahindra has introduced a new leasing scheme to retail its SUVs in the Indian market. The new leasing scheme is introduced for the entry-level Mahindra KUV100 NXT and the XUV500. Mahindra's leasing scheme will make the ownership experience of these vehicles more affordable and convenient.