The scheme allows owners to pay a down payment amount in 2014, while the actual EMI will start in 2016 as part of a year-end scheme offered by Skoda.
With the new year coming in a few days, the month of December witnesses most customers postponing their car buying decisions to the next year in order to get the new year’s registration date that adversely affects the resale value of the car. It is exactly the reason why almost every manufacturer offers interesting discounts, freebies and finance schemes to push the existing inventory out of stock yards. Skoda Auto has come with a very interesting finance scheme (not the first time) that allows customers to pay for the Rapid sedan in 2016, if they purchase the car in December 2014 (diesel automatic version is not part of the offer).
As per the new ‘Buy in 2014, Pay in 2016’ scheme, customers will have to make a down payment of Rs. 1.87 lakhs at the time of purchase within this month and will pay an EMI of Rs. 1/- over the next one year. However the actual EMI of Rs. 17,563/- will be collected from the buyer starting from 2016. In addition, the first 50 customers will also get the Garmin portable navigation system along with a reverse parking camera as freebies to sweeten the deal further. The finance scheme is exclusively provided by Volkswagen Finance India.
Despite being one of the slow selling cars in the segment, the Skoda Rapid undoubtedly comes with excellent build quality and also offers decent performance. More recently, the Czech automaker updated the Rapid with the new 1.5-litre TDI diesel engine producing 105 PS of power, paired to a 5-speed manual and the new 7-speed DSG automatic transmission. Petrol duty is performed by the same 1.6-litre 4-cylinder engine producing 105 PS and is paired to a 5-speed manual and a 6-speed automatic transmission. The company also offers an optional ‘Black’ package for a sporty look on the sedan.
Competing against the Honda City, Hyundai Verna, Ford Fiesta, Volkswagen Vento and the likes in the segment, the Skoda Rapid has been averaging around 1000 units every month as opposed to the 5000 units clocked by segment leader Honda City. The Rapid is priced at Rs. 7.22 lakhs for the base petrol version, while prices for the diesel variants start at Rs. 8.39 lakhs (all prices ex-showroom, Delhi).