MG Motor launches new portal MG e-Pay to simplify car loan applications

MG Motor’s MG e-Pay portal promises to offer seamless and customized instant financing options for the purchase of its cars with multi-bank loans.

Through : HT Auto Desk
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Updated on:
Mar 24, 2022 1:02 p.m

MG Motor has launched the one-stop auto finance portal MG e-Pay to make it easier for customers to get loans for new cars.

MG Motor has launched the one-stop auto finance portal MG e-Pay to make it easier for customers to get loans for new cars. The portal, which promises a seamless car purchase with an almost instant loan process, has turned on several banks for this purpose. With this new portal, MG Motor India has transformed the car buying experience into an almost entirely digital affair.

MG Motor has announced that it has partnered with ICICI Bank, HDFC Bank, Kotak Mahindra Prime and Axis Bank to offer customized and instant financing options under MG e-Pay.

MG e-Pay, which the company says is an industry-first initiative, will simplify the car buying process to just five clicks and seven steps. The portal will give customers the opportunity to book MG cars online or at the nearest MG dealerships, personalize their cars with accessories, merchandise and protection plans, among others. In addition, customers also have access to pre-approved loan offers from multiple banks, allowing them to customize the loan term, amount, and interest rate. Customers can also track real-time credit approval status and sanction letters.

Previously, MG Motor India had launched its virtual showroom, which offered a one-button car buying experience. The MG eXpert enables the customer to have a holistic digital experience of a new car.

Speaking on the launch of MG ePay, Gaurav Gupta, Chief Commercial Officer – MG Motor India said: “At MG we are constantly evolving our digital platforms to stay connected with our customers and ensure a best-in-class experience. Having effectively served over a million customers through MG’s online buying platform, we intend to go one step further and simplify the customer journey to avail suitable financing options for buying cars online.”

MG Motor currently offers five models including the Hector, Hector Plus, Astor, Gloster and its ZS EV electric SUV. The carmaker recently launched the facelift version of the ZS EV. The carmaker also plans to launch an affordable electric car later in India.

Initial Release Date: March 24, 2022 1:02 PM IST

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