Mr. Sanjay Thakker, Chairman & MD, Benchmark Cars Vadodara and Mr. Eberhard Kern, MD & CEO, Mercedes-Benz India at the inauguration of Vadodara’s first ever luxury car showroom, Benchmark Cars Vadodara.

Mercedes-Benz India along with Mercedes-Benz Financial has introduced “STAR Agility”, a unique finance scheme where the customer is given a ‘Guaranteed Future Value’ for his/her car at the end of the loan period. This move is similar to maverick Tesla CEO Elon Musk’s offer of a similar guarantee for customers of the Tesla Model S.

According to Tesla Motors ‘After 36 months, you have the right, but not the obligation to sell your Model S to Tesla for the same residual value percentage as the iconic Mercedes S Class, one of the finest premium sedans in the world, made by Daimler (also a Tesla partner and investor)’.

Ultimately though, the media was critical of the entire program on Tesla’s website which was misleading.

Mr. Sidhartha Nair, Managing Director, Daimler Financial Services India Private Limited, commented “We are pleased to introduce “STAR Agility” an innovative financing solution for potential, Mercedes-Benz customers which offer ‘Guaranteed Future Value’ for their car. This shall enable us to strengthen our commitment to offer innovative financial solutions for Mercedes- Benz customers in the Indian market.”

STAR Agility product is available for B-Class, C-Class, E-Class, S-Class, ML -Class and GL- Class car models. It also offers flexibility to select the annual mileage limit depending upon the usage.Mercedes Benz says the EMI can be customised as per requirement. The customer can choose to retain, return or trade-in the car at the end of loan tenure.

Here’s hoping Mercedes Benz India doesn’t pull a Tesla.