Yesterday, the homegrown automotive company, Mahindra & Mahindra Ltd, confirmed to offer cars leasing options in the period of 4-5 years. The lease option scheme will be ready for some vehicles such as the KUV 100 (entry level SUV), the Scorpio (medium sized SUV), the Marazzo (multi-purpose car), the TUV300 (compact sports SUV) and the XUV 500 (premium SUV). The KUV100 and XUV500 will be offered on lease in the initial phase.
M&M Ltd initially offers the KUV100NXT and XUV500 on lease
The starting prices of the XUV500 and the KUV100NXT for lease are Rs 32,999 per month and Rs 13,499 per month, respectively. It will be available for customers in Delhi, Mumbai, Bengaluru, Hyderabad, Ahmedabad and Pune. Mahindra also reveals that they are going to expand this service to another 19 cities in India in the coming time.
The lease amount of the Mahindra XUV500 will be at Rs 32,999
This service is addressed to supply customers or buyers with a wide range of options for owning a car with a cheaper cost, more convenience and no related maintenance or insurance requirements. That means the lease also covers the repairs, maintenance, insurance fees, 24h replacement vehicles, etc. Customers could own their vehicles in a limited period of time and return their cars once the tenure is over. Besides, customers also have a choice to upgrade their cars when the tenure ends.
With this leasing scheme, Mahindra aims to attract new groups of customers involving both professionals, businessmen and normal ones and boosting the penetration levels to keep up with the global market.
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