Mercedes-Benz Makes Luxury Cars More Accessible in India with Innovative Financial Solutions
Mercedes-Benz Makes Luxury Cars More Accessible in India with Innovative Financial Solutions
The socialyl responsible step has been taken by Mercedes-Benz, where they opened up the luxury cars to a larger section of the population with the "Wishbox" campaign in India. These distinct services make up a broad package of available financial offerings that could suit the different wants and needs of potential consumers which could attest to the company’s concern to the various economic conditions of car purchases in India.
The Wishbox program recognizes that purchasing a luxury car is a significant financial commitment. To ease this process, Mercedes-Benz has introduced three distinct financing options under the Wishbox umbrella:
Step-Up EMI Plan
The 'Step-Up EMI' plan is designed for customers who prefer a lower initial investment. This option is particularly beneficial for those upgrading from their current vehicles or trading in their old cars for a new Mercedes-Benz. Under this plan, the monthly payments start lower and gradually increase over time, aligning with the financial growth of the customer. This scheme is ideal for salaried professionals with predictable income increments, providing them with the flexibility to manage their finances effectively while enjoying the luxury of a Mercedes-Benz.
Easy Annual Benefit Plan
The 'Easy Annual Benefit' plan allows customers to leverage their anticipated annual income, such as bonuses or yearly incentives, for larger one-time payments. This approach significantly reduces the burden of monthly EMIs, making it easier for customers to manage their finances throughout the year. This plan is tailored for salaried professionals who can strategically use their annual windfalls to cover substantial parts of their car financing, ensuring that their monthly expenses remain manageable.
EMI Holiday Plan
Understanding the initial financial strain that often accompanies a car purchase, the Wishbox program offers an 'EMI Holiday' for the first three months. This allows customers to manage other pressing expenses without the immediate financial pressure of car payments. During this period, customers can enjoy their new Mercedes-Benz while easing into their new financial commitments. This plan provides a much-needed breathing space for new car owners to organize their finances without compromising their lifestyle.
In addition to the Wishbox financing options, Mercedes-Benz has also introduced the STAR Agility+ program. This initiative goes beyond traditional financing to offer a comprehensive ownership package that includes several key benefits:
Service Plans and Extended Warranty Coverage
The STAR Agility+ program includes service plans that ensure the vehicle remains in top condition throughout the ownership period. Extended warranty coverage offers additional peace of mind, protecting customers from unforeseen repair costs.
Guaranteed Buyback Value
At the end of the lease term, customers have the flexibility to choose from several options. They can upgrade to a brand-new Mercedes-Benz, refinance their existing vehicle to continue ownership, or simply return the car and receive the guaranteed buyback value. This buyback value is predetermined, ensuring transparency and eliminating any further financial obligations for the customer.
Significantly Reduced Monthly Payments
One of the standout features of the STAR Agility+ program is the significantly reduced monthly payments, which can be up to 40% lower compared to traditional financing options. This reduction makes owning a Mercedes-Benz more affordable and manageable for a wider range of customers.
Brendon Sissing, Managing Director & CEO of Mercedes-Benz Financial Services, emphasized the company's long-standing commitment to fulfilling the wishes of Indian customers. He stated, "Mercedes-Benz Financial Services has been offering innovative financial products for over a decade. This year, we are introducing the popular financial solution 'Wishbox,' offering personalized financial solutions suited for every customer's requirement. This program reaffirms our understanding of the customer pulse, reiterating our commitment to fulfilling their wish of buying a Mercedes-Benz."
Mercedes-Benz's introduction of the Wishbox campaign and STAR Agility+ program marks a significant step towards making luxury cars more accessible to Indian customers. By offering tailored financial solutions and a comprehensive ownership experience, the company not only eases the financial burden on its customers but also ensures a seamless and enjoyable journey towards owning a Mercedes-Benz. This innovative approach is set to redefine the luxury car buying experience in India, making it more inclusive and customer-centric.
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