Sahana Package from Mahindra and Ideal Finance enables affordable vehicle purchasing

Thursday, 30 July 2020 00:00 - - {{hitsCtrl.values.hits}}

Mahindra Finance, India’s leading non-banking finance company together with Ideal Finance Ltd., the finance arm of the Ideal Group, recently introduced a special COVID Sahana package to facilitate buyers of Mahindra personal and light commercial vehicles with affordable hire purchase plans.

Mahindra Finance previously entered into a joint venture with Ideal Finance Ltd. in order to leverage on its socially inclusive business model facilitating the local consumers with best possible offers. This Sahana package was introduced with the aim of providing financial relief to people who are in need of a personal vehicle and also to support small businesses and individuals to capitalise on this relief to gain financial stability.

In the personal vehicles segment, Mahindra offers this special Sahana package for Mahindra KUV 100, the 1200cc petrol car manufactured at the Mahindra-Ideal Lanka automotive assembly plant in Welipenna. With this encouraging Sahana package, the customers can own a KUV 100 with a 30% down payment and the balance 70% can be paid in 60 months to 72 months affordable instalments. Mahindra and Ideal Finance are also pleased to offer further benefits and discounts to the frontline heroes in Tri-forces, Police, heroic doctors, nurses and PHI officers when purchasing a Mahindra KUV 100, as a mark of respect for their great commitment in curbing COVID-19.

Light Commercial Vehicles eligible for this Sahana package are Mahindra Maxximo HD 12 Inch, Mahindra Maxximo VX 13 Inch, Bolero Maxi Truck plus, Bolero Maxi Truck Plus (with AC), Bolero Maxi Truck Plus Special Edition and Bolero Maxi Truck Plus Maxi Sport. These vehicles are available to be purchased with a 20% down payment and the remaining 80% can be paid in flexible instalments of 36, 48, 60 and 72 months as per the discretion of the buyer. Mahindra and Ideal Finance also ensure that all the vehicle buyers avail more financial freedom in the first three months offering a lower Equated Monthly Instalment (EMI).

“What we observed was that many people face hardships especially after COVID-19 which triggered financial issues that deprived them of owning a vehicle. People who wished to begin a business of their own or upgrade their businesses to the next level with mobility facilities could not afford that due to rising financial burdens. But now, Mahindra Finance and Ideal Finance have brought this amazing finance package to assist in ending the woes of people and help them re-build their lives in a post COVID-19 world. We also ensure that buying a vehicle from Mahindra is a life time investment and we are committed to provide industry leading after sales services and engage closely with our customers offering maintenance, guidance and expertise,” said Ideal Group of Companies Chairman Nalin Welgama.

COVID-19 has shattered people’s hopes of buying a new vehicle with rising financial burdens. Unprecedented pay cuts, loss of income opportunities and increase in expenditure over the past months added to the woes of people who were yearning to buy a vehicle for personal use or for business purposes. This is where Mahindra and Ideal Finance come to the fore offering the new Sahana package to ensure that people from all walks of life can buy a vehicle suited to their needs, despite the financial burdens.