- To provide multi-brand leasing and subscription under one roof
- Vehicle usership available for both retail and corporate customers
Back in September, Mahindra Finance announced its entry into the leasing and subscription business, under the brand name ‘Quiklyz’. This time around, the company has officially launched this new vertical to facilitate a hassle-free vehicle usership experience. The Quiklyz digital platform provides a subscription program for both retail and corporate customers. Quiklyz allows customers to access new cars minus the hassle of car ownership, as the company will take care of registration, insurance, scheduled and unscheduled maintenance, roadside assistance, etc.
In the initial phase, Quiklyz will be introduced in metro cities like Bengaluru, Chennai, Delhi, Gurugram, Hyderabad, Mumbai, Noida, and Pune. The facility will be further expanded across 30 locations in India (including tier II cities). The Quiklyz program offers the following benefits –
- Zero down payment and lower monthly outflow as compared to loan
- No uncertainty on vehicle maintenance costs, resale price etc. with a fixed monthly fee
- White number plate and RC in individual’s name
- No resale or maintenance hassle
- Wide range of options for the customer at end of tenure – return/extend/buy/upgrade
Speaking about the new business vertical, Ramesh Iyer, Vice-Chairman and Managing Director, Mahindra Finance, said, “Car leasing and subscription is a lucrative and fast-growing business in India. We aim to achieve a book size of Rs 10,000 crore in a span of three-five years. Leasing is seeing significant traction in the last mile mobility space especially with EVs, something our business module will also focus on. With leasing being a relatively new concept for Indian retail consumer, we wanted Mahindra Finance to be at the forefront of this module facilitating millennials and new age corporates alike for hassle-free ownership of vehicle”.
