About a week back, India’s largest carmaker Maruti Suzuki announced an offer called “Buy Now, Pay Later”. Cooked with the help of Cholamandalam Investment & Finance Company Limited, it allows customers to buy a new Maruti Suzuki and not pay any EMI for 60 days. The tie-up between the two companies also resulted in other finance schemes such as up to 90 per cent on-road funding.

Now, however, the Indo-Japanese firm has partnered with India’s largest private bank – HDFC. The idea is simple – to create an array of flexible financing schemes which appeal to a broader audience and make car buying easier. So, what have they cooked-up? Before we get to that, let’s make one thing clear – all schemes have their set of terms and conditions.

The first one – Step-up EMI plus balloon scheme – allows customers to pay a low EMI of Rs 1,111 per lakh for a loan tenure of 7 years (84 months). If you don’t fancy that one, then how about this – if you’re salaried, you can pay an EMI starting at Rs 899 per lakh for the first six months. Those who are self-employed can avail the same benefit for the first three months. No? Okay, perhaps you’d settle for the Flexi EMI scheme. Avail it, and you can pay low EMI for three months every year.

Apart from those financing solutions, customers can also avail offers such as up to 100 per cent on-road funding and lower loan interest rates for women. And here’s the real kicker – you don’t necessarily have to be an HDFC customer to grab any of these schemes. It seems then Maruti Suzuki’s tie-up with HDFC has resulted in a more comprehensive strategy to make car buying easier for more people. Which out the lot do you like the most?