The prolonged nationwide lockdown owing to the coronavirus pandemic has hit hard on the entire economy and the Indian Automobile Industry is also highly affected. People's buying sentiment is all-time low as the future is very uncertain. However, things have now started getting better and the government has also eased the lockdown process to bring the derailed economy back on the track. The COVID has changed our mentality and everyone now wants to have a personal mobility solution and if you are someone who wants a style statement too then Mercedes has some really unique and highly flexible financial schemes for you. So, here is everything you need to know about the new Mercedes-Benz Wishbox 2.0 innovative mobility solution.
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The German luxury carmaker has introduced this unique finance package for the customers who plan to buy a car with the three-pointed star during these tough times. Mercedes-Benz India has introduced the Wishbox 2.0 to reinstall customer confidence, create incremental demand and also to excite the luxury car market. This unique package offers three different kinds of financial solutions which include: a) Three months No EMI, b) Step-Up 2020: Drive More & Pay Less, and c) EZ 10 or 10-year Finance scheme. However, the Wishbox 2.0 schemes are only applicable on the Mercedes-Benz C-Class, E-Class and GLC range of cars.
Now, let's talk about each financial scheme in detail. The first one is Three Months No EMI Scheme in which a customer opting for a Standard Loan and Agility can avail of an EMI-free period for the first three months. The EMIs will commence only after the three months period of the 3, 4 or 5-year loan as opted by the customer. The next scheme is Step-Up 2020: Drive More & Pay Less under which one has to pay a small sum as EMI for the first six months of the contract and regular EMIs will start from the seventh month onward.
The third financial solution initiated by Mercedes-Benz is EZ 10. It is a first of its kind initiative under which Mercedes-Benz India will extend a customer's loan tenure to 10 years. This financial solution is based on five years Agility and five years refinance and is an amalgamation of both the contracts. With this scheme, the monthly EMI comes down to as low as Rs. 1499/lakh and the customers also have the option to opt for a guaranteed buy-back plan after 5 years.
Commenting on this new unique financial scheme, Martin Schwenk, MD & CEO, Mercedes-Benz India Limited, said, "Customer centricity has been central to all our market strategy and at Mercedes-Benz, we have developed a deep understanding of the luxury car market and that of our customers. As the markets across the country start reopening and operations begin in a graded manner, we are introducing Wishbox 2.0, a host of customized and highly flexible financial solutions, aimed at reinstalling customer confidence and empowering them to buy their Mercedes."
He further added, "Wishbox 2.0 is highly flexible and we are confident will instil customer confidence by offsetting some of their financial commitments. These smart financing solutions are one-of-its-kind and are our own way of supporting our customers investments and addressing the prevalent market challenges. We are confident that Wish Box 2.0 will find value among the customers and create some positivity in the market, continuing its success story from 2019."
India is currently undergoing Lockdown 4.0 and like other manufacturers, Mercedes-Benz has also resumed its retail operations in India. Talking about reopening dealerships Mr. Schwenk added, "We are swiftly getting back to business with gradual re-opening of our dealerships across markets following all the social distancing protocols and adhering to all safety and sanitization measures. We are confident, we will be able to operationalize the remaining outlets following the local authorities' directives, soon."
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So, this was all about Mercedes Benz Wishbox 2.0 Financial Schemes. In other news, Mercedes-Benz India has also started selling cars via Digital 'Shop' christened as Merc From Home campaign and the carmaker will launch the AMG C-63 Coupe and GT R in India on May 27, 2020.
