Mahindra Ideal Finance Ltd. (MIFL), a licensed non-bank financial institution regulated by the Central Bank of Sri Lanka, signed a Memorandum of Understanding (MoU) with Indra Traders (Pvt) Ltd., one of Sri Lanka’s largest multi-brand vehicle distributors, to introduce comprehensive leasing offerings for vehicle buyers across the country. The agreement was formalized on 15 August 2025, in Colombo.
The partnership brings together MIFL’s multi – brand vehicle financing capabilities and Indra Traders’ extensive vehicle portfolio to deliver affordable, seamless and value-driven leasing solutions for customers purchasing registered and unregistered vehicles.
Under the MoU, Mahindra Ideal Finance will extend preferential leasing rates starting from as low as 9.99% p.a. for customers purchasing vehicles through Indra Traders. Customers will also benefit from a wide range of after-sales services offered by Indra Traders. These include a two-year warranty on engine and gearbox and a three-year warranty on hybrid batteries for unregistered vehicles, along with multiple rounds of labour – free services for their vehicles. Pre-owned vehicle buyers will also receive warranty coverage and service support under the scheme.
Speaking on the partnership, Mahindra Ideal Finance Ltd. Managing Director and CEO, Mr. Mufaddal Choonia said:
“We are delighted to collaborate with Indra Traders to make vehicle financing more accessible and service led. This partnership allows us to deliver a truly integrated value offering that covers not only competitive leasing options but also peace of mind for customers through enhanced post-purchase support.”
Speaking on behalf of Indra Traders, Director Sales and Marketing, Mr. Hashindra Silva said
“This partnership with Mahindra Ideal Finance Ltd. represents a significant step forward in broadening vehicle accessibility and delivering enhanced customer value. With our robust after-sales service and trusted reputation, combined with MIFL’s competitive leasing solutions, we are confident of offering customers a seamless and reliable experience in vehicle ownership.”
Image Caption : From right to left: Mufaddal Choonia, Managing Director & CEO, Mahindra Ideal Finance Ltd. (MIFL); Hashindra Silva, Director – Sales & Marketing, Indra Traders; and Sajini Silva, General Manager, Indra Traders, at the signing of the Memorandum of Understanding (MoU)
