Tata Capital has recently entered into a strategic partnership with Maruti Suzuki, formalized through a Memorandum of Understanding (MoU). This agreement aims to provide comprehensive financing solutions to customers across Maruti Suzuki’s various brands, including Arena, Nexa, the commercial channel, and Maruti True Value.
The collaboration will allow Tata Capital to offer a range of financing options, catering to different customer segments, and reinforce its position in the automotive finance sector. Under this partnership, Tata Capital will offer up to 100% financing for Maruti Suzuki vehicles, giving customers the flexibility and support to purchase new cars without significant upfront payments.
Tailored financial products will be designed to meet the specific needs of individual customer segments, ensuring that a wide range of buyers—from first-time car owners to seasoned buyers—will find suitable financing options. Additionally, Tata Capital will extend financing options to commercial vehicle buyers, offering loans for those looking to purchase vehicles for business purposes, thus supporting small and medium-sized enterprises (SMEs) and other commercial vehicle operators.
For customers interested in purchasing pre-owned cars, Tata Capital will provide flexible financing solutions based on the vehicle’s market value. This aspect of the collaboration focuses on making second-hand vehicles more accessible and affordable, supporting the growing demand for pre-owned cars in India.
Through the Maruti True Value platform, buyers will benefit from customized financial solutions, helping them secure the necessary funds to own a pre-loved vehicle that fits their budget. This partnership signifies a significant step forward for Tata Capital, as the company continues to expand its presence in the automotive financing space.
By leveraging Maruti Suzuki’s vast customer base and nationwide reach, Tata Capital aims to boost its market share and make car ownership more affordable for a broader audience. The company also plans to utilize digital platforms to simplify the loan application process, enhancing the customer experience and streamlining the approval and disbursement of loans.
Tata Capital’s use of technology will ensure that customers benefit from quick and efficient financing solutions, minimizing the time spent on paperwork and maximizing convenience. Vivek Chopra, Chief Operating Officer of Retail Finance at Tata Capital Ltd., expressed his excitement about the collaboration, stating, “We are delighted to partner with Maruti Suzuki India Ltd.
This partnership aligns with our goal of delivering holistic financial services that cater to the diverse needs of our customers and business partners.” He further highlighted Tata Capital’s efforts to extend its reach, noting that the company has significantly grown its footprint across India, with over 800 branches now serving customers in urban and rural areas alike.
This partnership with Maruti Suzuki is expected to strengthen Tata Capital’s position in the automotive finance market, allowing it to serve a larger customer base while offering tailored financing solutions across both new and used vehicles.
Tata Capital, a subsidiary of Tata Sons, is a leading financial services company in India. Established in 2007, it offers a wide range of financial products and services, including personal loans, home loans, business financing, and wealth management. Known for its customer-centric approach, Tata Capital serves individuals, businesses, and institutions through over 800 branches nationwide.
