Latest News | OTO Capital Commences Two-wheeler Financing Services in Delhi
Get latest articles and stories on Latest News at LatestLY. Auto finance company OTO Capital on Wednesday said it has commenced its services in the national capital.
Mumbai, Oct 6 (PTI) Auto finance company OTO Capital on Wednesday said it has commenced its services in the national capital.
OTO provides financing options for all major brands of two-wheelers and has already partnered with 38 dealerships in Delhi, the platform said in a statement.
The launch in Delhi expands the geographies in which OTO currently operates and enables a smoother and more efficient model for two-wheeler ownership, it said.
"Delhi is a crucial market for two-wheelers with the highest number of registered vehicles across India. We are excited to venture into a new market and launch our offerings in the city.
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"With our simple buying and financing experience, we hope to make two-wheeler adoption more convenient in the city as well as aim to increase the use of electric vehicles across India," said its co-founder Sumit Chhazed.
The company said it has received over 60 new sign-ups for showrooms in Delhi and over 300 queries on two-wheelers financing options in the city or at dealers' showrooms.
However, since consumers are now preferring online modes of purchase and the visits to showrooms are not as frequent, OTO is allowing its customers to purchase vehicles by making its full range of two-wheelers available online, it said.
The company added that the home delivery and free home test-drive options are also available in the city now.
OTO Capital offers financing options for two-wheelers wherein buyers pay similar upfront like other loans but pay 35 per cent lower EMIs and have the option to own the two-wheeler at the end of the tenure by paying the remaining amount or sell it back to OTO.
With its over 300 dealer partners, OTO has financed over 6,000 two-wheelers, the company said in the statement. HRS hrs
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)