Mahindra & Mahindra Financial Services starts leasing and subscription business

CHENNAI: Mahindra & Mahindra Financial Services Limited (MMFSL/Mahindra Finance), part of the Mahindra Group, has announced its entry into the leasing and subscription business.
The new vertical would operate under the brand name Quiklyz, denoting the changing mindset on mobility.
The leasing and subscription model offered by Quiklyz allows a system where consumer pays a monthly fee to access the vehicle of their choice across all car brands, at a lower price point compared to regular car ownership.Corporate and businesses are also looking for alternate ways to have access to vehicles which can match their requirements without the burden of traditional ownership models.
Ramesh Iyer, VC & MD, Mahindra Finance, said, “With Quiklyz, we aim to make the process of ownership convenient for our consumers both for individual and corporate segments alike. I am confident Quiklyz will add substantial value to our existing financial business portfolio as we aspire to tap all emerging opportunities in this space”.
Turra Mohammed, SVP & Head, leasing & subscription, Mahindra Finance, mentioned, “A very important set of consumers for our new business will be the millennials who aspire to not only owning a vehicle, but to do so in a hassle-free manner. Quiklyz will provide that convenience while allowing them to frequently change or upgrade to newer models entering the market without any down payment. For corporates as well, leasing is fast emerging as a viable option both for providing cars to their employees and obtaining vehicles for their business use.”