Royal Enfield has always been about connecting to its user base on a personal level. The brand has always been about self expression, encouraging its users to customize their motorcycles. We’ve seen this on multiple occasions through the brand’s community events and custom build contests. On the other side of the equation, Royal Enfield is also all about giving its users a seamless and enjoyable experience.
A good example of this is Royal Enfield’s newest initiative called the Assured Buyback Program. Naturally, a motorcycle is a big purchase, especially for folks in India, where the market tends to be extremely price sensitive and a lot of folks finance their motorcycles over a long period of time. Unlike the US where motorcycles are seen mostly as toys and luxuries, people living in India depend on their motorcycles for daily mobility, and as such, demand quite a lot from their machines. It’s because of this that Royal Enfield has decided to partner with OTO Capital for the new Assured Buyback Program.
Through the new initiative, owners of Royal Enfield motorcycles will have the peace of mind that their motorbikes hold their value. The Assured Buyback Program offers tenure options of one to three years, and provides perks such as up to 45 percent lower EMIs (equated monthly installments) further making the process of owning a motorcycle accessible. Furthermore, the Assured Buyback Program guarantees a buyback value of up to 77 percent, depending on the tenure, as well as a cashback incentive at the end of the period.
The launch of the program hopes to reshape the motorcycle buying process in India. “At Royal Enfield we always prioritize the customer.” B. Govindarajan, CEO of Royal Enfield, told The Financial Express. He explained that the initiative guarantees peace of mind to the brand’s customers, “The Assured Buyback Program shows our commitment to making motorcycle ownership more seamless, more accessible and more fun for potential riders. Offering a first-of-its-kind, innovative solution, this program is designed as a promise to consumers for complete peace-of-mind, so they can absolutely enjoy a pure motorcycling experience with Royal Enfield”.
At the end of the tenure, customers have multiple options. Should they feel satisfied with their current motorcycle, they can continue their financing program and continue enjoying low EMIs. However, they also have the option of upgrading to a new model. Royal Enfield’s Assured Buyback Program has been rolled out to cover dealerships in 12 key cities consisting of Delhi, Ghaziabad, Noida, Lucknow, Jaipur, Bhopal, Indore, Ahmedabad, Pune, Hyderabad, Bengaluru, and Chennai. The program will expand to more locations in the near future.