Date:20/08/2006 URL: http://www.thehindu.com/2006/08/20/stories/2006082016740200.htm

Andhra Pradesh - Hyderabad

Car exchange and finance melas on August 20, 21

Special Correspondent

HYDERABAD: Fortune Automobiles (India) Pvt. Ltd, Somajiguda, dealers for Ford cars, on Friday announced a tie-up with the State Bank of India for car loans in connection with its `mega exchange and finance melas' here on August 20 and 21.

The melas will be organised at Abids and Tarnaka as part of the company's three-month campaign to sell their products, Imad Akhter, senior sales manager, told a press conference here.

The bank would finance 85 per cent of the on road price in case of vehicles priced below Rs. 6 lakhs and 80 per in case of those costing more than Rs. 6 lakhs. The other benefits being offered to customers include no collection of advance EMI.

He explained that the firm had gone in for a tie-up with SBI as its interest rates were `reasonable' and there was `transparency' in the dealings. A counter of the bank would be opened in the dealer's premises during the campaign.

The dealer, he said, hoped to sell 500 Ford Fiesta models during September and October because of the depreciation facility being offered and the festival season.