Mercedes-Benz India introduces 'Wishbox' custom financial solutions
Launched with five primary features – Key-to-Key Change, 25-25-25-25, Zero Down Payment, Star Agility+ & Comprehensive Insurance – the Mercedes-Benz 'Wishbox' seems to be the antidote to the ongoing car sales slowdown.
By Divyank K. Bansal
Launched with five primary features – Key-to-Key Change, 25-25-25-25, Zero Down Payment, Star Agility+ & Comprehensive Insurance – the Mercedes-Benz 'Wishbox' seems to be the antidote to the ongoing car sales slowdown.
The Indian auto market can certainly use a miracle to climb out the bottomless pit it finds itself in. With no immediate relief in sight from the government, the onus falls upon the manufacturers to get creative and minimise losses. In a bid to rejuvenate sales, Mercedes-Benz has announced its 'Wishbox' initiative, which offers multiple financial solutions tailored to a customer's specific requirements.
As stated above, the Wishbox initiative is a combination of five primary features. The Key-to-Key change (applicable only on the GLE & GLS SUVs) allows customers to own two Mercedes-Benz models in a span of four years. Meaning that a GLE/GLS customer, who purchases his/her car under this scheme, can swap the current model for a new-generation/upgraded model twice (two upgrades at no extra costs), within a span of four years.
The 25-25-25-25 model focuses on easing the burden of hefty down-payments and the EMI payments which follow shortly. Under this scheme, a customer can simply pay 25 per cent of the car's value as the down payment. The remaining 75 per cent can then be paid annually, with each annual EMI paid as an instalment value of 25 per cent.
Like the above-mentioned scheme, the Zero Down Payment plan also reduces the down payment burden. Under this, a customer can simply pay the applicable road tax upfront, take the car home and then pay the balance via specially-planned low-interest EMIs (Fixed tenure of 60-months/5-years).
The Star Agility+ scheme is designed to give additional benefits of maintenance, warranty & assured buyback to customers while reducing EMIs by up to 40 per cent. Under certain terms & conditions, the EMIs calculated under this scheme will be significantly lower than a standard loan EMI. Plus, the reduced EMI will also be inclusive of the above-mentioned additional benefits.
To ease the maintenance burden, Mercedes-Benz is also offering a two-year complimentary insurance scheme on its new vehicles, which will further reduce the upfront payment amount.
On the sidelines of this announcement, Mr Martin Schwenk, MD & CEO of Mercedes-Benz India Limited also announced the brand's progress & future timeline on the BS-VI conversion, 'We are also steadily pressing ahead with our BS-VI transition of the entire portfolio. Till date, we are already at a 60% plus transition level and by September 2019, we will be at 80% level. We are confident of converting our entire portfolio to BS-VI ahead of the mandated timeline of April 2020.”
Watch our Mercedes-Benz E220d BS 6 Video right here.
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