New Delhi: This, perhaps, is the best time to buy a luxury car. The spec sheets for these swish sets of wheels are in real danger of being outdone by the swelling list of purchase offers: EMI holidays, extended loan tenures, and step-up repayment options.Mercedes Benz has tailored a bouquet of flexible financial solutions ‘Wish Box 2.0’. These draw-cards include extended loan tenures of 10 years, lower EMIs of Rs 1,499 per Rs 1 lakh, and EMI holidays for the first three months.
“These smart financing solutions are one-of-its kind and are our way of supporting our customers’ investments and addressing the prevalent market challenges,” said Martin Schwenk, managing director, Mercedes Benz India (MBIL).
Wish Box 2.0 is applicable on purchase of select Mercedes models: the C-Class, the E-Class and the GLC. Doctors can avail of an additional price benefit of Rs 1 lakh. These schemes come at a time when sales of luxury cars declined about a third in the first quarter. Industry estimates showed that about 7,000 luxury cars were sold in the three months to March.
Audi India isn’t too far behind either. It has drawn up service packages of up to 8 years, extended warranty up to 7 years and road-side assistance up to 11 years, in addition to flexible payment schemes. “As things gradually return to normal, we are analysing buying patterns to understand how we can encourage sales and offer financial solutions to our customers,” said Balbir Singh Dhillon, Head, Audi India. Volvo Cars is offering BS-VI vehicles at the same price as BS-IV-compliant versions. “We’ve kept the same price for BS-VI models after all our BS-IV stock was sold out before the deadline,” said Charles Frump, MD, Volvo Car India.