Mahindra and Mahindra Financial Services Limited, a part of the Mahindra Group, on Thursday announced that it will now enter the vehicle leasing and subscription business to take advantage of the continuing opportunities in the sector. Understanding the needs of their customers, car makers are joining the car subscription and leasing segment, which now gives customers an opportunity to own a car for a fixed time without buying it.
Let us tell you that this platform of Mahindra will be run under the brand name ‘Quiklyz’. This information has been shared by the company itself. This can prove to be helpful for the brand to launch similar products in the semi urban and rural markets in the times to come.
Let us tell you that at present, car customers get bored of their vehicles in a short time and then start thinking of upgrading it. It is not possible for everyone to do this when buying a vehicle, but if you are using a vehicle leasing service, then it becomes very easy for you to do this and you can own the vehicle for a few months or even a few years. and then when you feel like upgrading the vehicle then there is an option to lease another vehicle instead which proves to be less expensive.
Under the leasing and subscription model offered by ‘Quicklys’, customers can choose the vehicle of their choice across all car brands and become a car owner for a specified period of time by paying a monthly fee. This process is economical as well as the customers do not have to make any kind of downpayment, which is the biggest advantage of this service.
Ramesh Iyer, Vice President and Managing Director, Mahindra Finance said, “With Quicklys, we aim to facilitate the process of ownership for our consumers, both personal and corporate. I am confident that ‘Quickify’ will add substantial value to our existing financial business portfolio as we seek to capitalize on all emerging opportunities.