Mahindra Finance Partners With carbike, Rupyy To Launch New Used Car Loan Service

Non-Banking Finance Company, Mahindra Finance has partnered with car&bike by Mahindra First Choice Wheels and Rupyy to introduce a new used car loan service. Called ‘Used Car Digi Loans’, the new service is aimed at expediting the loan application and disbursement process along with providing the partners with “real-time visibility of the application and sanctioned loan offer.”

Speaking on the partnership, Ashutosh Pandey, MD & CEO Mahindra First Choice Wheels mentioned, “We are pleased to start a new chapter in our ongoing relationship with Mahindra Finance. The new digitized journey will ensure an agile turnaround time thus enabling us to serve our customers better and further benefit our network partners”.

Service will facilitate the faster processing and disbursement of loans for purchasing used cars.

Mahindra Finance says that customers will be able to receive customised loan offers from the company with the system being integrated into the partner’s used car platform. Buyers will be able to avail of loans within a matter of hours with the help of specialized underwriting & processing teams. Allowing partners to have real-time visibility of the application and sanction loan offer meanwhile is claimed to help speed up the delivery process.

Ramesh Iyer, Vice Chairman & Managing Director, Mahindra Finance said, “Our partnership with Car&Bike and Rupyy will enable us to leverage on market strengths to create a digitally empowered platform. This integration will ensure a seamless and transparent journey for all stakeholders enhancing customer delight.”