Festival offers on Car loans

By | September 7, 2011

A recent press report said that car manufacturers are bundling various offers and gifts to speed up the sluggish auto market.

According to reports, Maruti Suzuki has offered discounts ranging from Rs. 20,000-Rs25,000 on Alto and Wagon R while Volkswagon India has offered a discount of Rs. 40,000 in the form of free insurance premium, for the petrol version of its Polo.
A report also said that Toyota Motors has decided to offer free insurance for the petrol variants of Etios and Liva while M&M has planned to offer cash discounts of up to Rs. 20,000 on its petrol version of Mahindra’s Verito.

Hyundai, a global conglomerate has planned to offer discounts to the tune of Rs. 20,000-30,000 besides other gifts.

The report also mentioned that the dealers were expecting to boost up their sales the month of October, which has gone down significantly in the last few months.

The auto industry had earlier expressed its distress at the Reserve Bank’s decision to hike key policy rate because the move is likely to reduce the demand and hit sales this festive season. The hike in car loan rates will also make borrowers uncertain about taking up loans.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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