New Delhi: In a bid to make its vehicles more affordable for customers, Mahindraa and Mahindra Ltd—the country’s third largest car maker—on Wednesday announced a vehicle leasing scheme in which a customer can take any one of the company’s passenger vehicles for a certain period by paying a fixed monthly instalment at the end of the month.

According to the company, the vehicle-leasing scheme will provide more convenience to customers since there will be no down payment that a customer has to make and the vehicle will be given back to the company at the end of the lease. Also, the monthly instalment, which ranges from 13,499 to 32,999 depending on the model, includes service and maintenance costs, insurance, on -road assistance, repairs and 24-hour replacement vehicle service.

Customers can easily upgrade to new models as and when they deem fit.

According a press release, Mahindra has partnered with service companies like Orix and ALD Automotive for this vehicle-leasing scheme. The leased vehicle will be available for periods of up to five years depending on the city and model selected.

“We are happy to introduce this unique leasing offering for our retail customers in association with Orix and ALD Automotive. Our lease offering for retail buyers aligns with our larger vision of transforming the face of mobility in India, disruption being at the very core," said Veejay Ram Nakra, chief of sales and marketing, automotive division, M&M.

Mahindra will make available all its offerings, including the recently launched Marazzo, in the leasing scheme. The scheme will be available for customers in Delhi, Mumbai, Bengaluru, Hyderabad, Pune and Ahmedabad and later extended to 19 more cities.

“Our leasing model is a category creating product offering, a “no-worry" experience for customers who prefer convenience over ownership. It aims to bring a new class of customers, including professionals, small businessmen and millennials, into the Mahindra car experience who were waiting on the sidelines," said V.S. Parthasarathy, group chief financial officer at Mahindra and Mahindra.