New retail finance scheme for Mercedez buyers1 min read . Updated: 06 Aug 2007, 11:33 AM IST
New retail finance scheme for Mercedez buyers
New Delhi: DaimlerChrysler and ICICI Bank had a nation-wide launch of “Star Choice", a retail finance scheme which will serve customers of Mercedez-Benz brands with a range of innovative financial products.
At an EMI of Rs. 29,999/- for Mercedes-Benz C-Class and a competitive interest rate at 9.99% with a down payment as low as it suits individual needs, the tie-up has been received with much enthusiasm in the auto sector.
According to Dr. Wilfried Aulbur, Managing Director & CEO of DaimlerChrysler India, “a Mercedes-Benz need not remain a distant dream any more. With this new finance option one can drive away the C-Class with an EMI of Rs. 29,999. The product is targeted at the young, ambitious, fast-growing set of entrepreneurs and professionals who aspire the Three Pointed Star."
The Star Choice is being rolled-out across all Mercedes-Benz dealerships in India, with immediate effect. Mr. Rajiv Sabarwal, senior general manager and head, Retail assets, of ICICI bank, the purpose of the tie-up was to garner additional car sales and finance by using proactive and innovative tailor-made financial solutions and products. The focus will be to offer structured schemes with low down payment, low EMI and competitive interest rates and optimized upgrade schemes to suit customer requirements and to promote affordability."
“Star Choice" offers two options to customers- the first being financing at 9.99% interest rate which is extremely competitive and another being financing with very low down payment.
With over 12.87 lakh cars sold in Jan-Dec 2006, India ranks among the high growth auto markets in the world; and there has been a notable shift in consumer preference towards high-end cars.