OTO launches its 2-wheeler buying and financing platform in Jaipur
Jaipur, March 31, 2022 – OTO, a startup that helps customers buy and finance two-wheelers, has today announced its launch in Jaipur to directly cater to its customers in the region. The company has already partnered with 22 showrooms in Jaipur and plans on onboarding a total of 46 dealers by the end of the month.
With increasing demand for buying and financing two-wheelers through a digital platform , the company has received over 2000+ queries on their financing options in the city in the 2 weeks of launch. Some of the dealers OTO has partnered with in Jaipur include Rishab Suzuki, Pushpa Honda, Om Sai Autowheels, Satnam Motors Pvt. Ltd. and others.
Commenting on the launch, Sumit Chhazed, Co-founder, OTO said, “Jaipur has been a key market for us and it is befitting that the local customers in the region are able to easily access the ownership experience through OTO. In the midst of the staggering growth seen in the two wheeler market in Tier II cities like Jaipur, we are elated to announce our launch in the region. This rising two wheeler sales coupled with easy availability of financing options in tier 2 cities like Jaipur will further boost the overall Two Wheeler Market in the country. We further plan to expand to more tier 2 cities across the country in order to fulfil rising consumer demand, where people are rapidly adopting a diverse range of two wheelers including electric.”
Speaking about the partnership with OTO, Anand Bihari Sharma, R.L Motors said,“We are extremely pleased and exhilarated to have partnered with OTO, the fastest-growing two-wheeler purchase and finance company in the country that provides an all-around digital experience to its customers with an affordable EMI’s lower than banks accompanied by bike up-gradation. This partnership with OTO, will further our penetration deeper into the Jaipur market and promote an innovative way of owning two-wheelers via seamless financing options from. It will benefit our customers significantly in aiding commute savings and experiencing a digitally enabled process of buying vehicles from the comfort of home.”
Started in 2018, OTO operates on an innovative financing model for 2-wheelers where the buyer pays an upfront amount like any other loan but gets up to 35% lower EMIs with an option to retain, return or upgrade at the end of the tenure. The platform works in partnership with various banks and NBFCs to provide the most hassle-free financing options to its customers. It also provides full auto lifecycle management, from credit underwriting to insurance, maintenance, and eventual resale of the vehicle.
OTO had recently embarked its presence in Delhi, Indore and Ahmedabad. The company has received over 40000+ applications from Indore, Delhi and Ahmedabad together till date. Apart from these cities, OTO also has its operations in Hyderabad, Chennai, Bangalore and Pune. The company aims to reinvent the two-wheeler ownership experience in emerging markets.