TVS Motor Company has introduced the new ‘buy now, pay after six months’ EMI scheme for the XL100 moped. The special EMI scheme is the first-of-its-kind in the two-wheeler industry and offers a moratorium of six months to the TVS XL100 customer before the commencement of the EMI payment. In essence, the customer gets a six-month break before the EMIs begin on the two-wheeler. The Loan to Value (LTV) for this scheme will be 75 per cent, according to the company. The TVS XL100 moped is priced from ₹ 44,294, going up to ₹ 46,114 (all prices, ex-showroom Delhi).
The announcement comes as TVS, much like other manufacturers is recovering from the Coronavirus lockdown that has gravely affected production and sales for the company. The new scheme is part of the many new solutions to encourage buyers to begin purchasing vehicles again with affordable interest rates, discounts and offers to make an attractive proposition. The six-month moratorium scheme for the TVS XL100 is valid till July 31, 2020.
The TVS XL100 is the most affordable offering in the Hosur-based manufacturer’s line-up. The scooter draws power from the 99.7 cc single-cylinder, four-stroke engine that develops 4.3 bhp at 6,000 rpm and 6.5 Nm of peak torque at 3,500 rpm. The BS6 version also introduced new features on the model including fuel-injection that promises improved acceleration, 15 per cent enhanced fuel efficiency, easy on-off switch, mobile charging socket, petrol reserve indicator, and a larger floorboard for added convenience.
The XL100 is one of the best-selling models for TVS Motor Company with its versatility as a people mover and load carrier, which makes it a popular choice in the semi-urban and rural regions. The moped has a strong market down south in India. Meanwhile, TVS has silently hiked prices on its commuter range offerings including the Radeon 110 and the NTorq 125. The company is expected to introduce the BS6 compliant versions of the TVS Victor 110 and the Scooty Zest 110 models later this month.