Maruti, the country’s largest carmaker, is partnering with banks to reduce their car down payments. Through this partnership, the company wants to provide cars to its customers at low down payment. This project of the company is currently in pilot mode. With this project, the company is bringing a special scheme for the customers, so that customers will be able to buy Maruti cars on a low down payment.
What is the company’s special scheme?
In the last few years, due to the increase in the price of cars, banks take more car down payment from customers. The company is partnering with banks to deal with this situation. The company will sell cars to customers through its special scheme at low down payment. Through this move of the company, it wants to deal with the slowdown of the auto market.
Car Down payment will be reduced by 50 percent
Currently, customers have to pay a 20 percent down payment of the Maruti car’s on-road price. This down payment will be reduced to 10 percent after the company’s scheme enters the market. For example, if the on-road price of an entry-level car of Maruti is Rs 4.5 lakh, then at present, you have to pay down payment from 80 thousand to 90 thousand. After the implementation of the new scheme of the company, you will be able to buy a car only by making a down payment from 40 thousand to 45 thousand.
Many cars of Maruti coming this year
The Maruti company is about to launch many of its cars in 2020. During the Auto Expo in February, the company can launch its popular car Maruti S-Cross car with a petrol engine. This car is being discontinued by the diesel variant company. This car will launch with the new petrol engine at the 2020 Auto Expo. The company will offer a 1.5-liter petrol engine in S-Cross with mild hybrid technology (Maruti’s Smart Hybrid Technology). This 1.5-liter, 4-cylinder engine of Maruti Suzuki generates 103 bhp power and 138 Nm peak torque. This engine has Maruti’s smart hybrid technology with a dual battery setup. Having a hybrid engine will improve the mileage of the petrol Maruti S-Cross. The engine offered in the S-Cross will be equipped with a 5-speed manual and 4-speed automatic gearbox.