Car4Cash to Target Full-time Employees with Own Businesses With High Loan-to-Value Offer and up to 84 Monthly Installments

Stocks and Financial Services Press Releases Thursday February 7, 2019 11:55
Bangkok--7 Feb--FleishmanHillard

"Car4Cash", a leader in the automotive refinance market, looks to expand its Gen-Y customer base with the focus on capturing the segment of full-time employees with own businesses. To respond to their multifaceted financial needs, the brand is offering high loan-to-value and longer installment period of up to 84 months. By affirming its role as a source of fund with financial advice and privileges that will help boost business growth, Car4Cash aims to continuously maintain the top-of-mind brand position in automotive refinance.

Mr. Pornthep Tirasuntrakul, Senior Vice President, Head of Krungsri Auto Marketing Division, Bank of Ayudhya PCL, said "Car4Cash remains the most preferred choice of customers looking for financial liquidity. In 2018, our key strategy was to expand the Gen-Y customer base (aged between 25 and 39) through the introduction of its new brand role as an alternative source of fund for car owners who aspire to achieve goals in life. Young entrepreneurs were the first group we communicated with. This year, we are further reinforcing the concept of "Go Forward with Car4Cash" by tapping into another important Gen-Y segment: full-time employees with own businesses, which seek specific types of loan products that have not yet been directly provided by lenders in the market."

"This young generation has a wide range of life goals. For many, having one full-time job can no longer fulfill their ambitions. Therefore, we see more and more Gen-Y consumers starting their own businesses along with working full-time. In achieving their goals, they too look for funding sources but often face the limitations of available loan products, especially those that primarily determine the loan amount by these customers' main source of income: salary. Usually, the approved loan amount cannot cover both personal and business aspects. More importantly, it usually has relatively high interest rates and the average installment period of around 48 – 60 months, which become heavy financial burdens these consumers have to bear each month," Mr. Pornthep added.

To fill the gap in the lending market and provide the young generation easier access to financial services, 'Car4Cash' aims to be the preferred source of fund for car owners with full-time jobs and own businesses. It has recently launched a new offer: easy application with salary slips and high loan-to-value of up to 100% of the vehicle value. In addition, to respond to the needs of those looking for low monthly repayments, 'Car4Cash' is offering a special campaign of up to 84 monthly installments for customers who apply for loans from 29 January 2019 to 30 April 2019. They can also select the interest rate option of either flat rate or effective rate. Moreover, to reaffirm the brand's role as a Financial Advisor, Car4Cash is providing a variety of privilege programs that will help boost the customers' business growth.

"Both the offers and the campaigns we have designed particularly for this consumer group reflect Car4Cash's commitment in providing lending services that effectively answer the needs of customers as well as respond to the changing lifestyles and financial needs. This is also our effort to enhance the potential of the young generation, which plays an increasingly important role in the country's economic development. We will continue to focus on this segment and firmly believe that 'Car4Cash' will maintain its leadership in the automotive refinance market," Mr. Pornthep concluded.

Interested customers can apply for 'Car4Cash' offers at www.car4cash.com. For customers apply for loan from 29 January 2019 to 30 April 2019, receive the free one-year website development package, domain name registration and 24-hour help desk call center service, worth 3,300 baht, from ReadyPlanet Co., Ltd. (Limited to 84 packages per month).

The New Experience with Krungsri Auto

Krungsri Auto, a leader of automotive finance business under Krungsri, offers a variety of loan services, including "Car for Cash", "Krungsri Rod Baan", "Krungsri New Car", "Krungsri Used Car", and "Krungsri Truck" operated by Krungsri Auto Group, Bank of Ayudhya Public Company Limited, "Krungsri Motorcycle", "Krungsri Big Bike", "Krungsri Used Big Bike" "Krungsri Inventory Finance" as well as insurance services, operated by Ayudhya Capital Auto Lease Public Company Limited.

Customers can access these financial services through Krungsri Auto's 51 branches and the Bank of Ayudhya's branches nationwide, Thailand Post Offices, Counter Service Outlets at 7-Eleven and Krungsri Auto Call Center (tel. 02-740-7400, press 1).Visit www.krungsriauto.com or www.facebook.com/krungsriauto for more details.


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