Germany’s automaker Mercedes Benz on Tuesday started its car leasing business in the Indian market. The new scheme will allow customers to lease vehicles on a monthly rental for a period ranging from 12 to 36 months.
“Star Lease” will 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.
Mr. Debashis Mitra, Director – Sales and Marketing of Mercedes Benz said that this lease scheme would enable customers to upgrade or go in for hassle free ownership.
“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 newswire quotes Mercedes-Benz India director – Sales and Marketing, Debashis Mitra, as saying.
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 announcement comes shortly after Mercedes has inaugurated a new state-of-the-art dealership in Ludhiana.