These are challenging times where the economy is showing many worrying signs to the professionals everywhere. Inflation too is getting on the higher side and therefore causing many problems for the people who are dealing with economic anxiety on a regular basis. One of the big expenses for households in India that is escalating rapidly is car ownership. The car ownership cost consists of not only the down-payment and EMI but also maintenance, road tax, insurance, and many others. Another part of these costs that are completely out of the hands of the car owners is the rising fuel prices. The fuel prices have been growing rapidly and if the trend continues, it may become difficult for car owners to manage the other expenses that they need to accommodate during the month. One of the best ways to counter the higher fuel price is to find other ways to save money on your car ownership since the oil prices are only controlled at a global level.
Here are some of the ways that opting for a car subscription during these times can help you get the most value for your money.
- Less financial commitment
- Free Maintenance
- Fuel-efficient Make and Models
- Depreciation proof
- Freedom of movement
1. Less financial commitment
The car subscription model works differently than the traditional car ownership where you need to pay a hefty down payment and thereafter continue paying EMI for the car loan that you may have to take. The financial burden that can put on your savings can be substantial, especially if you consider the fact that many of us may already be paying EMI for a loan such as a housing loan. Even if you buy a used vehicle, you may not be eligible for loans or may have to pay higher interest rates even if you manage to get a loan. On top of that, you need to regularly pay for road tax and insurance renewal. When you opt for a Revv car subscription, you can save all of these costs such as insurance, down payments, Loan EMI, road taxes, etc. All of these are borne by the car subscription company such as Revv in this case.
2. Free Maintenance
Car maintenance is another one of the costs that can come up to a huge cost over the life of the vehicle. If you opt for a used car, the maintenance amount increases even more like the age of the car increases. In the case of a new car, the maintenance may be covered by the manufacturer for some time, but over a period of time, it will surely increase. That is not the case if you decide to go for a car subscription by Revv. Through the car subscription from Revv, the car maintenance is the responsibility lies with Revv. The Revv executives will coordinate with you to come and pick up the car during the time specified by you. They will then take the car for thorough maintenance regularly and once it has been carried out, they will deliver it to you. The car will also be completely sanitized before it is delivered back to you to avoid the risk of any diseases.
3. Fuel-efficient Make and Models
When we buy the car we may buy them based on certain parameters such as comfort, driving experience, style, and at that time fuel efficiency may not be one of the important parameters for us. In the traditional model of car ownership, there are very few chances of changing your car before 5 to 7 years. In the meanwhile, more technological advancements may mean that more fuel-efficient make and models that may come up. With the car subscription model, you can enjoy the car subscription benefits during fuel price hikes such as returning your ride to get a more fuel-efficient model. You can also enjoy exploring several vehicles before finding one that meets your budget and usage. This is impossible to explore in traditional car ownership where you often have to depend upon the online reviews of the car and word of mouth of your friends and family.
4. Depreciation proof
The new car that you buy will start depreciating from day one. You can save money from a Revv car subscriptions since the vehicle depreciation will not impact you adversely. The value of the car will not have any effect on the car subscription and your subscription charge will remain more or less the same no matter how much you use it.
5. Freedom of movement
If you are moving between cities, you may have to drive your car from your old city to the new one costing a lot of money on the fuel and tolls. In order to save all of the costs, the subscription model has a feature for the users who can submit their cars to their older cities and they can be collected from your new city. You also have the option of returning your car anytime without having to worry about any minimum period. You can also exchange your car for a new one or even extend the subscription period if you feel like it.
The car ownership costs are one of the necessary expenses of many households that need to have a vehicle for their regular usage. You can however manage these costs by option for a car subscription instead of buying a car and the saved money can be used to effectively make up for the rising fuel prices. There are many car subscription startups that can provide great value for money options to their subscribers and Revv is one of the top companies to do so. To explore you can download the Revv app and start finding the best car for your needs.