AMW Motors Ltd. has entered into an agreement with L&T Finance to provide competitive retail financing options for its range of medium and heavy haulage vehicles and tippers. The agreement provides for loans at attractive rates for all classes of commercial vehicle operators, including retail customers, and will be available across the range of AMW vehicles such as tippers, the new AMW haulage range and other special-purpose vehicles.
The country-wide reach of AMW and L&T Finance will considerably augment financing options for customers.
The memorandum of understanding was signed by Mr. A. Ramasubramanian, President, AMW Motors, and Mr. G.C. Rangan, COO, L&T Finance.
Mr. Ramasubramanian said on the occasion: “Affordable financing for commercial vehicles is extremely important as it provides our customers the advantage of aligning their monthly outgo on loans with vehicle operating costs and enables them to increase the return on investment which is crucial to business. The combined benefit of high product performance and attractive financing options is a “win-win” for all of us. We are privileged to be associated with L&T Finance and are confident that this tie up will generate increased volumes for AMW and better overall productivity for customers.”
Mr. Rangan observed: “With this strategic tie-up with AMW we feel that the potential of owning a quality portfolio by the transport community will get a real boost. It is our continuous endeavour to make availability of finance more convenient and customer-friendly, and with this partnership; we believe we will be able to help people in buying their choice of commercial vehicle.”
This partnership is expected to benefit and support customers across India by making loans easily accessible with attractive benefits. The benefits include fairly low interest rates, simple documentation process, personalized services, quick disbursement and pan-India network.