Makers of Rhino, launch auto finance company

Hoshiarpur, June 21 (UNI) The Sonalika group which had launched the multi-utility vehicle Rhino, has not entered the auto finance sector.

While announcing the launching of its new company, International Autotrac Finance Limited (IAFL) in a press conference here today, Sonalika group MD Deepak Mittal said that this company would finance the vehicles produced by International Tractors Limited and International Cars and Motors Limited.

He further disclosed that the new company would achieve its goal in three stages. At the first stage, the finance facility by IAFL would be available to those residing in Punjab and in the second stage this facility would be extended to the other northern states and finally the company would cover the entire Indian market.

Mr Mittal claimed that IAFL would be a customer friendly company, which would provide auto loan at a lower rate of interest and with least formalities. Four separate departments had been created by the company to help the customers to avail the loan easily.

The company will also provide the information and handle the inquiries online, he added.

UNI