AMW in retail finance pact with L&T Finance

Heavy commercial vehicle manufacturer, AMW Motors Ltd today said it had entered into an agreement with L&T Finance to provide retail financing options for its range of medium and heavy haulage vehicles and tippers.

The agreement will help provide loans at attractive rates for all classes of AMW commercial vehicle operators, including retail customers and will be available across the range of AMW vehicles such as tippers, the new AMW haulage range and other special purpose vehicles.

The country-wide reach of AMW and L&T Finance will considerably augment financing options for customers, AMW said in a statement .

The Memorandum of Understanding was signed by A Ramasubramanian, president AMW Motors and G C Rangan, COO, L&T Finance.

''Affordable financing for commercial vehicles is extremely important as it provides our customers the advantage of aligning their monthly outgo on loans with vehicle operating costs and enables them to increase the return on investment which is crucial to business," said Ramasubramanian, adding, "The combined benefit of high product performance and attractive financing options is a ''win-win'' for all of us.''

G C Rangan, COO, L&T Finance said, ''With this strategic tie-up with AMW we feel that the potential of owning a quality portfolio by the transport community will get a real boost. ''

This partnership is expected to benefit and support customers across India by making loans easily accessible with attractive benefits. The benefits include attractive interest rates, high loan to value of commercial vehicles, simple documentation process, personalized services, quick disbursement and pan India network. AMW's expects that this agreement with L&T Finance will help its sales offices and dealerships to reach out to more truck operators across the country.