Many people dream of having a car of their own, and plan of getting their dream vehicle. No matter how meticulously they plan, there are a few hurdles that make it difficult for a person to own a car. The biggest hurdle is money since car ownership in India usually works up to a costly decision. The car ownership requires one to pay the down payment, auto loan at a hefty rate of interest, maintenance charges, registration fees, insurance, and several other expenses that sometimes are unforeseeable to the prospective buyer. The car also depreciates as you drive and the money you get by selling it after five years of driving is often less than one-third of the initial price. This is the reason that people instead settle for getting hassled in public transport, or take taxis which turns out to be equally expensive. The newer way of getting a car that most people are warming up to is the car subscription. Let us learn what is this and how can it make inexpensive car ownership seem a reality instead of a dream.
General Information for Car Subscription
- What is Car Monthly Subscription?
- Car Subscription vs Car Rental
- Car Subscription vs Car Leasing
- Eligibility Criteria for Car Subscription
- When can I cancel my Subscription with Revv?
What is Car Monthly Subscription?
Simply put, you can get a car through a subscription without becoming the owner of the car and a set monthly subscription fee. The subscription fee includes several charges such as maintenance fees, insurance, roadside breakdown assistance, and many more. The subscription can be taken for more than one month and this way the car remains with the subscriber. One of the key benefits of a car subscription is that you do not need to commit all your money to one particular car. If you do not like the car you are free to go for a different make or model of the car next month. It is also possible for the car subscription to include a fleet of cars giving the subscriber more freedom to experiment and try out other vehicles. Depending on the car make and model, the monthly subscription charges may vary and some car subscription companies may also have a particular period before which you cant go for a different car.
Car Subscription vs Car Rental
The car subscription works on a different model than leasing and rental since in the subscription model you don’t need to return the vehicle very soon. You get to keep the car for the month, unlike the rental which is for a shorter period. There is also no limitation on maximum kilometers in the subscription model while on the rental model there are high fees on exceeding the set number of kilometers. There are also restrictions on a rental car to not go outside of a particular geographical area such as city or state, while a car on subscription can be taken anywhere with ease. The additional services such as insurance and breakdown assistance are also not provided for the rental cars; however, they are included with many good car subscription services.
Car Subscription vs Car Leasing
As it is about car subscription, you can cancel your subscription anytime without worrying about the lock-in period, unlike a leased vehicle that has a lock-in period such as 24 or 36 months. In leasing, some of the overhead costs such as the maintenance costs, insurance, and few other costs are borne by you and therefore it may turn out to be a little expensive. Car leasing also comes with some benefits such as, at the end of the lease period you can get an offer from the car dealer to buy the vehicle at a discounted price. This benefit is also extended on cars by premium car subscription services providers such as Revv. When you take a car subscription by Revv for a longer period such as 24 or 36 months, you have the option to buy the car at the end of the subscription period.
Eligibility Criteria for Car Subscription
Various companies that provide car subscription services have different criteria for measuring the eligibility of the person applying for the subscription. To get a car subscription the customer needs to facilitate the details of their work as well as their address. If you are applying for car subscription services from Revv, you can go to the Revv website and click on the “Check Eligibility”. Your eligibility for taking the car subscription can be checked instantly in case you are going for an unboxed car subscription, which has vehicles less than 3 years old.
Once you have been deemed eligible, you will be directed to the booking screen where you can pay the booking amount and finalize the details of your subscription. The delivery of the vehicle can be made on your doorstep which can take as much as 7 to 15 days from the booking date. The car will be completely sanitized in and out and will be re-sanitized on your doorstep. You can track the entire process through regular notifications that you will receive from Revv. You will have to be physically present at the time of the delivery of the vehicle. Your ID and Address proof are required to verify the details.
When can I cancel my Subscription with Revv?
You can specify the length of time that you are planning to use the car. The subscription fee depends on it so that the longer you take the car subscription, the lesser the fees that you will be required to pay monthly. If you decide to return the car before the subscription period, you can do so by paying the rental for one month and the accumulated fee difference. The minimum period for taking the car subscription is one month and the maximum period can go for 36 months.
There are several benefits to take car subscription services instead of buying a car. It can result in substantial savings in the long term and lessen the commitment; therefore, making your driving experience all the better. You can get a lot more information through the Revv website https://www.revv.co.in/ and step into the world of car subscription services for you and your family.