HomeCar NewsMahindra Leasing launched - XUV500 at Rs 33k a month, Marazzo, Scorpio,...

Mahindra Leasing launched – XUV500 at Rs 33k a month, Marazzo, Scorpio, TUV300 also offered

Mahindra Leasing has been launched to offer an increase of purchase options and the convenience to car buyers in India. The monthly lease rental starts at Rs. 13,499 per month for KUV100 NXT and Rs. 32,999 per month for XUV500.

Leasing convenience brings with it lower or no down payment, zero risk on resale value and fixed EMI that includes maintenance cost. Since there’s no initial down payment requirement, the option gives more people access to a car. Flexibility allows folks to return a vehicle lease period is over, and get a new vehicle without having to endure a tedious reselling process as is the case with vehicle ownership.

The lease package includes insurance, end to end maintenance, on road assistance, accidental repairs, 24 hours replacement vehicle, and more. Mahindra lease offering is now available in Pune, Ahmedabad, Bangalore, Hyderabad, Mumbai and New Delhi in phase I. In phase II, Mahindra will expand leasing ops to 19 cities. The range on offer for leasing includes – KUV100, TUV300, Scorpio, Marazzo and XUV500.

Mahindra has partnered with Orix and ALD Automotive for leasing ops. A leased vehicle will be available for period of up to 5 years depending on city and model selected.

V S Parthasarathy, Group CFO & Group CIO, Mahindra & Mahindra Ltd 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 side-lines. Going forward, I am confident that leasing will gain more currency and the penetration levels will move in line with global trends.”

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