Car makers lure customers with e-payments post demonetisation

To woo customers post demonetisation, auto makers Renault, Nissan and Honda have tied up with banks and e-wallets firms to offer cashless facilities and fully financed car loans.

Renault India has announced cashless transaction for customers making vehicle purchases and availing after-sales services.

In order to facilitate bookings and cashless payments, the company, which sells models like Kwid and Duster, is offering customers an option of paying the booking amount through Paytm and HDFC PayZapp e-wallets.

"This is a strategic move by Renault to leverage the growing preference for cashless transactions in India. In addition to this, Renault India is offering 100% on-road funding across Renault's product range to its prospective customers," the company said in a statement.

Renault is also extending cashless options such as the use of cheques and demand drafts, e-wallets, debit or credit cards and instant fund transfers for all after-sales services.

"All these facilities will be available without charging any additional transaction fee," it added.

Similarly, Japanese car maker Nissan and its brand Datsun's dealers are accepting cashless transactions such as cheques, debit or credit cards, and e-Wallets to purchase parts or services.

In addition, the company provides free towing of Nissan and Datsun vehicles which are under warranty or extended warranty, ensuring customer comfort in case of emergencies.

"We want to ensure a delightful customer service experience for every Nissan and Datsun customer when they enter a dealership by providing the best possible support and convenience," Nissan Motor India Managing Director Arun Malhotra said.

HondaCars India too has announced a tie-up with HDFC, Axis Bank andICICI Bank to provide up to 100% loan to prospective customers.

The Japanese car maker's arrangement with the three leading banks includes ex-showroom and on-road financing for its various models.

Terming the demonetisation initiative of the government a bold and progressive decision, Hero MotoCorp Chairman, MD and CEO Pawan Munjal said it will provide a significant boost to the economy and will create a transparent and inclusive financial system.

"The agility reflected with subsequent steps is also aiding the public both in urban and rural areas. I am personally very enthused by this decision.