In a first, Maruti Suzuki launches India’s first multi-financier, online car financing platform NEXA

In a first-of-its-kind initiative Maruti Suzuki has launched the Smart Finance service to offer an online, end-to-end, real time car finance service facility. With the launch of Smart Finance, customers now have the option to compare loan offers from multiple financiers, customize the loan offering as per their needs and upload the documents, with just a few clicks.

Not to be taken aback by the pandemic, the company aims to simplify and digitalise the customer’s car buying journey with a bouquet of financing options for NEXA customers across 30 cities in the country. The innovative service offers a one-stop convenient online platform for customers to compare loan offerings from multiple financiers.

Maruti Suzuki, said to be the country’s first OEM to offer this kind of service continues to be a trailblazer by investing in new technologies and systems to simplify the car buying journey and provide delight at each stage. This initiative will strengthen the digitisation efforts and offers enormous flexibility by empowering customers to make an informed choice.

Currently hosted on www.nexaexperience.com, Smart Finance offers customers the ease of a one-stop-shop for their complete vehicle finance needs. They can pick the financier of their choice, browse pre-approved and custom generated loan offers, select the best suited loan product, complete all finance related formalities with digital document sharing and secure disbursal of the loan with just a few clicks.

The NEXA website will act as a facilitator between the customer and financier, providing a wide variety of choices on the loan offers, real time status updates and in turn providing a hassle-free and transparent financing solution.

For this, Maruti Suzuki has currently partnered with eight financiers viz HDFC Bank, Yes Bank, ICICI, IndusInd Bank, Cholamandalam Finance, AU Small Finance Bank, Mahindra Finance and Kotak Mahindra Prime. Subsequently, the car making company will accommodate other key financiers on the platform. The improved transparency around the loan offers and related charges empowers the customer to make the right decision in a very convenient manner.

With customer centricity a key mantra of the company, the pilot for Smart Finance was carried out in Gurugram. In order to simplify the process and to provide a seamless experience ‘a mobile friendly/led interface’ was the key integration, basis the learning from this PILOT phase.

The Smart Finance service is now available for NEXA customers, for salaried employees, in 30 cities including Delhi, Gurugram, Lucknow, Jaipur, Mumbai, Pune, Ahmedabad, Chennai, Bangalore, Hyderabad, Indore, Kolkata, Cochin, Chandigarh, Guwahati, Goa, Bhubaneswar, Bhopal, Coimbatore, Surat, Vadodara, Ranchi, Raipur, Nagpur, Trivandrum, Vishakhapatnam, Udaipur, Kanpur, Vijayawada, and Dehradun.