Mahindra Finance, India’s leading Non-Banking Finance Company together with Ideal Finance Ltd, the finance arm of the Ideal Group, recently introduced a special COVID Sahana package to facilitate buyers of Mahindra personal and light commercial vehicles with affordable hire purchase plans. Mahindra Finance previously entered into a joint venture with Ideal Finance Ltd. in order to leverage on its socially inclusive business model facilitating the local consumers with best possible offers. This sahana package was introduced with the aim of providing financial reliefs to people who are in need of a personal vehicle and also to support small businesses and individuals to capitalize on this relief to gain financial stability.
In the personal vehicles segment, Mahindra offers this special sahana package for Mahindra KUV 100, the 1200cc petrol car manufactured at the Mahindra-Ideal Lanka automotive assembly plant in Welipenna. With this encouraging sahana package, the customers can own a KUV 100 with a 30% down payment and the balance 70% can be paid in 60 months to 72 months affordable installments. Mahindra and Ideal Finance are also pleased to offer further benefits and discounts to the frontline heroes in Tri –forces, Police, heroic doctors, nurses and PHI officers when purchasing a Mahindra KUV 100, as a mark of respect for their great commitment in curbing COVID 19.
Light Commercial Vehicles eligible for this sahana package are Mahindra Maxximo HD 12 Inch, Mahindra Maxximo VX 13 Inch, Bolero Maxi Truck plus, Bolero Maxi Truck Plus (with AC), Bolero Maxi Truck Plus Special Edition and Bolero Maxi Truck Plus Maxi Sport. These vehicles are available to be purchased with a 20% down payment and the remaining 80% can be paid in flexible installments of 36, 48, 60 and 72 months as per the discretion of the buyer. Mahindra and Ideal Finance also ensure that all the vehicle buyers avail more financial freedom in the first three months offering a lower Equated Monthly Installment (EMI).
‘’What we observed was that many people face hardships especially after COVID 19 which triggered financial issues that deprived them of owning a vehicle. People who wished to begin a business of their own or upgrade their businesses to the next level with mobility facilities could not afford that due to rising financial burdens. But now, Mahindra Finance and Ideal Finance have brought this amazing finance package to assist in ending the woes of people and help them re-build their lives in a post COVID 19 world. We also ensure that buying a vehicle from Mahindra is a life time investment and we are committed to provide industry leading after sales services and engage closely with our customers offering maintenance, guidance and expertise.’’ said Nalin Welgama, Chairman of Ideal Group of Companies.
COVID 19 has shattered people’s hopes of buying a new vehicle with rising financial burdens. Unprecedented pay cuts, loss of income opportunities and increase in expenditure over the past months added to the woes of people who were yearning to buy a vehicle for personal use or for business purposes. This is where Mahindra and Ideal Finance come to the fore offering the new Sahana package to ensure that people from all walks of life can buy a vehicle suited to their needs, despite the financial burdens.
Mahindra and Ideal Finance are committed to efficiently serve the loyal customers and provide detailed informatics videos about every vehicle, which can be accessed through https://idealmotors.lk/. Ideal Finance takes control of the whole process from documentation to providing test drive opportunities and delivering the vehicle to the doorsteps of the customer, further facilitating convenience to the customers.
Ideal Group initially began operations in Sri Lanka in the Light truck segment and later expanded its range to personal vehicle segment with Mahindra KUV 100 being assembled and rolled out in Sri Lanka. Poised with an unmatched after sales service and industry leading expertise, Ideal Group specializes in the assembly, import and distribution of motor vehicles, automotive after sales services, import and distribution of multi-brand spare parts, finance and Real Estate services through its finance arm, Ideal Finance, logistics and many more services. Mahindra and Ideal partnership has brought over 55% of market share within the country in a short time span and continues its merry way with a customer centric approach. Ideal Motors, a fully owned subsidiary of the Ideal Group claims a large footprint across Sri Lanka with its island wide network of Ideal First Choice workshops, sales showrooms, spare parts dealers and authorized services dealers.