Lectrix EV introduces instant loan eligibility tool

Lectrix EV, the electric vehicle brand from the SAR Group, has launched a feature to check instant loan eligibility for any two-wheeler on its website lectrixev.com, without a paywall attached to the process. This tool is designed to streamline EV adoption in India, providing time-saving and anxiety-reducing features while enabling customers to make instant purchase decisions. 

It offers a range of services, including selecting loan tenure, and banks, and determining two-wheeler eligibility based on the customer's income bracket. The loan eligibility tool serves as a helpful aid in decision-making, eliminating the need for customers to book the product beforehand.

In collaboration with IDFC FirstBank as one of the financiers for this, the free instant loan eligibility calculator widget on lectrixev.com will help the customers understand their CIBIL score in 3 easy steps. As per the company, this decision comes in the wake of understanding the utility of EVs for micro-business owners and economically disadvantaged retailers. For this particular segment, Finance is the most powerful deciding factor when it comes to buying an EV.

K. Vijaya Kumar, MD and CEO at SAR Electric Mobility said, “We believe that everyone should be able to access an EV scooter easily. India's EV market has enormous potential. Currently, India has only about 50% penetration in the two-wheeler segment which is much lower than countries like Vietnam and Indonesia where more than 80% of the population owns a two-wheeler. India is committed to cutting emissions by 45 percent by 2030, and EVs will play a large role in the same. Therefore, we aim to increase EV penetration with easy, quick, and hassle-free financing for everyone. The launch of the Lectrix EV scooters and the loan eligibility calculator is cognizant of the same".