OTO launches its 2-wheeler buying and financing platform in Delhi

Date: 07 Oct 2021

OTO, the two-wheeler buying and financing innovator, has announced its launch in Delhi to make financing of two-wheelers convenient and to provide a seamless digital buying experience for customers in the city. OTO provides financing options for all major brands of two-wheelers and has already partnered with 38 dealerships in Delhi.

The launch in Delhi expands the geographies in which OTO currently operates and enables a smoother and much more efficient model for two-wheeler ownership. The company said it has received 60+ new sign-ups for showrooms in Delhi and 300+ queries on two-wheelers financing options in the city or at dealers’ showrooms.

Some of the dealerships OTO has partnered with include Binsar Automobiles, Aman Motors and Bagga Bajaj among others. Since consumers are now preferring online modes of purchase and the visits to showrooms are not as frequent, OTO is allowing its customers to easily purchase vehicles by making its full range of two-wheelers available online. The home delivery and free home test-drive options are also available in the city now.

Commenting on the launch, Sumit Chhazed, Co-founder, OTO said, “Delhi is a crucial market for two-wheelers with the highest number of registered vehicles across India. We are excited to venture into a new market and launch our offerings in the city. With our 10X simple buying and financing experience, we hope to make two-wheeler adoption more convenient in the city as well as aim to increase the use of electric vehicles across India.”

OTO Capital provides dramatically simpler and affordable financing options for two wheelers where buyers pay similar upfront like other loan but pay 35% lower EMIs and have option to own the two-wheeler at the tenure end by paying remaining amount or sell it back to OTO. Recently, the company also secured $6 million in a Series A investment round led by Matrix Partners India. They also partnered with multiple electric vehicle manufacturing companies to accelerate the adoption of electric vehicles in the country.

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