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Mahindra Finance launches 'Used Car Digi Loans' in partnership with Car&Bike and Rupyy

Posted On : 2023-03-03 14:42:28( TIMEZONE : IST )

Mahindra Finance launches 'Used Car Digi Loans' in partnership with Car&Bike and Rupyy

Mahindra & Mahindra Financial Services Limited, (MMFSL), part of the Mahindra Group, and one of India's leading Non-Banking Finance Company, today launched a specialized end-to-end digital journey named 'Used Car Digi Loans'. This offering has been launched in association with Car&Bike (by Mahindra First Choice Wheels) & Rupyy (by Cardekho), the leading brands in the used car industry.

With the help of this new integrated journey, customers will be able to get customized loan offers from Mahindra Finance, enabling them to take faster buying decisions.

The integrated system will be able to seamlessly initiate the loan application procedure with Mahindra Finance thus making the process quick and convenient for the customer. 'Used car Digi loans' has the capability of successfully disbursing loans within few hours with the help of specialized underwriting & processing teams, equipped with 15 state-of-the-art fintech tools. Partners will have a real-time visibility of the application status and sanctioned loan offer allowing them to delight their customers with swift vehicle delivery.

Ramesh Iyer, Vice Chairman & Managing Director, Mahindra Finance said, "Mahindra Finance has been at the forefront of innovative product offerings and this venture is another step in that direction. Our partnership with Car&Bike and Rupyy will enable us to leverage on market strengths to create a digitally empowered platform. This integration will ensure a seamless and transparent journey for all stakeholders enhancing customer delight".

Ashutosh Pandey, MD & CEO Mahindra First Choice Wheels mentioned, "We are pleased to start a new chapter in our ongoing relationship with Mahindra Finance. The new digitized journey will ensure an agile turnaround time thus enabling us to serve our customers better and further benefit our network partners".

Namit Jain, CEO and Co-Founder Cardekho Group said, "We are looking forward to our collaboration with Mahindra Finance. With this partnership we plan to capitalize on Mahindra Finance's rich expertise and experience in vehicle financing. This collaboration will help us to further expand our geographical reach across India and facilitate our customers and dealers with best loan offers and create a digitized and hassle-free used car loan journey for all our stakeholders".

Shares of Mahindra & Mahindra Financial Services Limited was last trading in BSE at Rs. 252.50 as compared to the previous close of Rs. 255.20. The total number of shares traded during the day was 46712 in over 882 trades.

The stock hit an intraday high of Rs. 258.35 and intraday low of 252.00. The net turnover during the day was Rs. 11860911.00.

Source : Equity Bulls


MahindraandMahindraFinancialServices UsedCarDigiLoans CarandBike Rupyy Cardekho MahindraFirstChoiceWheels INE774D01024