Bengaluru – September 19th 2024: Tata Capital Ltd, the flagship financial services company of the Tata Group, has signed a Memorandum of Understanding (MoU) with Maruti Suzuki India Ltd. (MSIL) to offer financing solutions for new and pre-owned cars. Through this strategic alliance, Tata Capital will provide financing solutions to customers across MSIL’s Arena, Nexa, commercial channel and Maruti True Value brands.
As part of this collaboration, Tata Capital will offer up to 100% funding, including tailored products for various customer segments. Additionally, commercial usage vehicle financing will also be available. For pre-owned cars, Tata Capital will provide funding options based on the market value of the vehicle.
This collaboration marks a crucial step in Tata Capital’s strategy to expand its presence in the automotive financing sector while leveraging digital platforms to enhance customer service.
Speaking on the partnership, Vivek Chopra, COO – Retail Finance at Tata Capital Ltd, said, “We are pleased to collaborate with Maruti Suzuki India Ltd., as this partnership perfectly aligns with our objective of providing comprehensive financial solutions that cater to the diverse needs of our customers and partners. Over the past few years, Tata Capital has also significantly expanded its footprint to over 800 branches across the country.”
