Mercedes Starts Car Leasing Business in India
Wednesday, 12 October 2011, 19:16 IST
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Bangalore:German Luxury car maker Mercedes Benz today started car renting business in India with the launch of Star Lease that will make available its complete range of cars for hire. According to the new scheme, customers would have the option of leasing a Mercedes car on a monthly rental for a period ranging between 12 and 36 months. Commenting on the development Mercedes Benz India Director Sales and Marketing Debashis Mitra said, "Consumers shall now have an option to drive away a Mercedes without any initial investment and just pay affordable rentals which shall cover all insurance and maintenance costs for three years." The customers who lease a car would also have an option to buy the car after three years, he added. The lease would be provided through Daimler Financial Services India, a subsidiary of Daimler Financial Services AG that was launched in July 2011, under the Mercedes Benz Financial branding. The company would offer the Star Lease from its dealerships in Delhi, Mumbai, Pune, Bangalore and Chennai. Leasing is the grant of use of a vehicle where the customer pays for only what he uses. Under a leasing contract the customer can use a vehicle over a period of time for a fixed monthly lease rate. "The Indian consumer's appetite for luxury vehicles has been voracious and we forsee this growing in the future," Daimler Financial Services India Managing Director Sidhartha Nair said.
Source: PTI