Jeep Announces Leasing Scheme for Its SUVs in Indian Market

• Published On: 28 June 2019
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Jeep SUVs now available for lease in India.

Jeep India has made getting your hands on a new Compass, Wrangler, or Grand Cherokee, whole lot easier. Fiat Chrysler India has announced a tie-up with cab company Orix. Under this partnership, the joint venture will offer leasing services for the aforementioned models of Jeep in India. A lot of customers are increasing moving towards leasing services due to the low initial cost involved in getting a car and the lack of hassles in leasing when compared to ownership of the same car. However, the leasing expenses in India does end up being higher in the long run as compared to outright purchase. So one can expect the leasing tariff of Jeep SUVs in India to be on the higher side as the company has not yet released the leasing tariff details of the SUVs in India. On the flip side, corporations in India can take advantage of the leasing services as the leasing expenses can be presented as business costs and a company can claim tax benefits on the same.

The leasing service will be only available for Mumbai, Delhi NCR, Hyderabad, Bangalore and Pune at the beginning. However, FCA and Orix can also expand the leasing services for Compass, Wrangler, or Grand Cherokee as per the success of the scheme in the cities where it is already underway. The benefits that the customers can reap when they go for leasing option on the SUVs include road tax payments, insurance and renewals, breakdown assistance, accident repairs, end-to-end maintenance and the pay-as-per-use model for a period of two to five years. These features are aimed mainly at business users.

Kevin Flynn, the president and managing director at FCA India spoke on the occasion of the launch of the new service and stated,

This innovative partnership will enable customers to lease the award-winning Jeep Compass without having to pay for the vehicle outright and enjoy the cash flow benefits. This partnership strengthens our commitment to providing the Jeep ownership experience to our Indian customers through innovative avenues.

Sandeep Gambhir the managing director and chief executive officer at ORIX Auto Infrastructure Services Limited also spoke on the occasion and added,

We are proud to partner with FCA India. We look forward to strengthening our leasing solutions and to providing innovative benefits to customers, enabling them to experience premium products and avail of value-adds. We hope to play an important role in meeting today’s customer expectations.

 Jeep’s progress in India has been very good, especially with the Compass SUV that brings in very good sales numbers for the company and was a smash hit when it was launched in the Indian market. Jeep currently has 3 SUVs in the Indian market; Compass, Wrangler, and Grand Cherokee and the ex-showroom prices for these models start at Rs. 15.60 lakhs, Rs. 56 lakhs, and Rs. 75.15 lakhs respectively.