Piaggio Vehicles has partnered with Shriram Finance to offer accessible and affordable financing for three-wheelers (3Ws) in India. This collaboration aims to provide tailored financing options, including low down payments and attractive interest rates, to customers, with specific benefits for women and those lacking permanent address proof. The agreement promises to ease the financial burden for 3W entrepreneurs and enable them to become commercial vehicle owners.
The agreement was signed in the presence of Amit Sagar, Executive Vice President of CV Domestic Business and Retail Finance at Piaggio Vehicles Pvt Ltd, and G.M Gilani, Joint Managing Director from Shriram Finance Limited. Shriram Finance will provide exclusive deals for Piaggio customers, including attractive financing options for both passenger and cargo 3Ws. A significant highlight of this partnership is its focus on empowering women customers by offering easy finance options to help them become commercial vehicle entrepreneurs.
Simplifying the loan process
The partnership aims to simplify the loan process for 3W entrepreneurs who may not have immediate permanent address proof or other documentation. The financing solutions will offer a loan tenure of up to four years with down payments as low as INR 20K-25K. This initiative seeks to remove financial barriers and encourage more individuals to invest in Piaggio's commercial vehicles.
Amit Sagar expressed his enthusiasm for the partnership, stating, "This is a firm step forward towards improving the financing options for our commercial vehicle customers across the country. We understand that financing has been a challenge for the industry and we try our best to bridge that gap. With Shriram Finance we have a trusted partner with a shared vision of making small commercial vehicles financially accessible to most. I am sure this will open many avenues for our commercial vehicle customers to bring home the Piaggio Apé of their choice without any financial hassles."
Likewise, G.M Gilani highlighted the significance of this collaboration, saying, "Piaggio’s Apé is a trusted brand of over two decades in the country and we are proud to associate with them. With our innovative and attractive financial solutions, small commercial vehicle will be even more accessible. We are committed to introducing many such offerings in the future."
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