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.”
About Mahindra Ideal Finance Ltd.
Mahindra Ideal Finance Ltd. (MIFL) is a Central Bank of Sri Lanka-licensed, non-bank financial institution (NBFI) and a subsidiary of Mahindra & Mahindra Financial Services Ltd, India. With a footprint of 36 branches across Sri Lanka and growing, MIFL offers a range of accessible, technology-enabled retail financial solutions tailored to the needs of individuals, small businesses, and multi-brand vehicle importers. The company is focused on supporting inclusive economic growth through practical, transparent, and customer-centric lending products, with a particular emphasis on strengthening Sri Lanka’s multi-brand vehicle trade as well as its SME ecosystem. With a rating of AA- (Outlook stable) by FITCH, Mahindra Ideal Finance is one of the highest credit rated financial institutions in Sri Lanka.
About Indra Traders
Indra Traders brings decades of industry expertise, a strong reputation for integrity, and an extensive network of sales and service facilities island-wide. This legacy of excellence positions Indra Traders as a dependable partner for customers, offering them not only quality vehicles but also unmatched support throughout their ownership journey.
