Mahindra Finance Launches Quiklyz - Car Lease & Subscription Program For All Car Buyers, Businesses
Mahindra Finance just launched Quiklyz, a new car lease and subscription program for the individual as well as corporate car buyers. The millennial-friendly name for the brand reflects their intention to focus strongly on individual car buyers. The team at Mahindra Finance believes that the current offerings in the car lease and subscription space are not catering to the retail car buyers. Quiklyz intend to offer easy car ownership options to these customers.
Quiklyz are available in Bengaluru, Chennai, Delhi, Gurugram, Hyderabad, Mumbai, Noida and Pune. Mahindra plan to expand to 30 more locations in the next year.
One of the major advantages of choosing Quiklyz is that they register the car in the customer’s name. Meanwhile, the company takes care of all the expenses including:
Fuel, toll, parking and fines for traffic violations are the only costs the customer will have to bear during the ownership. You can click on the following link to visit Quiklyz and browse the car options they currently offer: Quiklyz by Mahindra Finance
The car buyer also doesn’t need to stick with a few engine-transmission choices and live with a handful of colour options. Among the cars on offer, the customer can choose any of the variants, engine-transmission combinations and colours. Quiklyz will place an order for the specific variant and the wait times for the new car will typically remain about the same as they would for a regular car buyer.
Since Quiklyz register the car in the customer’s name, it gets standard white registration plates. Therefore, the customer can also cross borders while doing road trips without any state-related taxes applicable for commercial vehicles.
At the end of the lease tenure, the customer has the option to buy the car at the residual value. The customer can also choose to extend the subscription or upgrade to another car. While the entire amount paid will be considerably more than buying the car up front with full payment, the benefit of buying on lease lies in the opportunity cost. This hidden cost impacts a person’s prospects for growing wealth. We’ll discuss the impact of opportunity cost and compounding in detail in the coming weeks. Meanwhile, you can read the following article to learn more about depreciation and inflation:
Besides retail customers, Quiklyz will also continue to cater to the businesses, which need cars for shorter tenures.