Maruti lines up finance scheme for customers to upgrade to Grand Vitara

New Delhi, Jun 6 (PTI) Maruti Suzuki India on Friday said it is planning to roll out a financing scheme for existing customers to upgrade to its mid-sized SUV Grand Vitara.

Customers willing to upgrade can opt for a brand new Grand Vitara at an affordable EMI of Rs 9,999 per month available in the market, almost 20 per cent lower EMI compared to standard finance schemes, Maruti Suzuki India Senior Executive Officer (Marketing & Sales) Partho Banerjee said.

After 5 years or 75,000 kms, the customer will have the option to return the vehicle to Maruti Suzuki at an assured value of 50 per cent of vehicle cost, he added.

The customer will also have an option to buy back, he said.

Maruti Suzuki plans to roll out the initiative first in three cities – Delhi-NCR, Mumbai and Bengaluru.

Based on the success and learnings of the pilot, the company would like to extend the scheme to other models, especially its upcoming e-VITARA, Banerjee said.

As per the new scheme, when a customer opts for an upgrade to Grand Vitara, the existing vehicle becomes the down payment and will also be eligible for an exchange bonus, he added.

The customer has to just get finance for the rest of the amount, which will be equated into monthly instalments for a period of around 5 years (depending upon the vehicle exchange value and finance requirement), Banerjee said.

MSI on Friday said it has surpassed a cumulative sales milestone of 3 lakh units for Grand Vitara in a record time of just 32 months. PTI MSS MSS BAL BAL