The Indian automobile industry has undergone a big change when it comes to the taste of the customers in car ownership. The past few years have seen the growing popularity of car subscriptions as opposed to buying a new or used car. The car subscription model has several traits that give it a clear advantage in car ownership. While the car owners in the metropolitan cities of India have been are reaping the benefit of these plans, the rest of the urban population is also coming to realize the car subscription benefits and readily accepting the model. If you too want to know if the car subscription model fits your needs, we have listed the most important things that you need to know before making up your mind.
6 Important things to know about car subscription model
- Zero Down Payment
- No Loans or EMI
- Maintenance included
- No registrations or Road Tax
- Flexible Returns or Extensions
- Option to Buy-out
1. Zero Down Payment
A car is most often the second biggest investment one makes right after buying or building a house. When you buy a new car, you need to come up with a huge amount that has to be given to the car company as a down payment. The amount is often difficult for most people to come up with and it can also require the car owner to invest their savings. This also means that the money is tied down and can not be invested elsewhere while the car depreciates and brings down the valuation of your investment. The best part of a car subscription is that there is no need for you to pay any down payment to be made.
2. No Loans or EMI
With the car subscription, there is no need for you to take a loan and pay any EMI. Based on your credit score you may be required to pay a higher interest rate and if you are buying a used vehicle, it may not be covered by any finance. The best part of getting a car subscription is that you can get the right car for yourself by just paying the monthly maintenance fee which is much lesser than the downpayment, EMI, and other expenses combined.
3. Maintenance included
Car maintenance can be a huge expense when it comes to car ownership especially if you are going for a car that is on the expensive side. Another benefit of the car subscription is that the monthly car subscription fee usually includes the maintenance fee. For example, Revv car subscription includes monthly maintenance which is carried out by the Revv executives who will visit your place and pick up the car for regular maintenance which will also be returned to your home after the servicing is done.
4. No registrations or Road Tax
The registration of the vehicle remains at all points of time with the car subscription provider company. That is why there is no need for you to pay the hefty car registration fee and road tax. With the subscription model, you are only taking the car for usage during the subscription period.
5. Flexible Returns or Extensions
If you are bored out of your own car, you can’t do much about it. Nor can you upgrade the car you drive if you get a raise. Well, all of these things are possible if you decide to go for a car subscription. With premiere services such as Revv, you can opt for a flexible car subscription which can be easily returned at any time due to the absence of any minimum subscription period beyond one month. You can even return the car and go for a subscription in a different city in case of a transfer.
6. Option to Buy-out
With the Revv subscription, you can get the option of buying out the car that you are taking on a subscription. The best part is that since you have driven the vehicle extensively, you know the vehicle very well. That is why it is a better decision than buying a used vehicle from an unknown seller which carries a great deal of risk. This option is also available if you go for a brand-new vehicle subscription from Revv, where the car will be ordered especially for you.
Now that we have shared these insights about the car subscription model, let us understand what is Revv subscription and some of the unique benefits that might not be available with other car subscription models.
- Fully sanitized – One of the key benefits of going for a Revv car subscription is that you can get a sanitized car subscription. Each surface of the car is fully sanitized and cleaned to ensure that there is no possibility of infection. Special attention is paid to the high contact area.
- Hundreds of car models – Whether you want an affordable hatchback or a huge SUV, you can find all make and models of cars with the car subscriptions from Revv. You will also find different fuel types and transmission types when choosing the right car.
- Home Delivery – All Revv cars can be delivered right to your doorstep and returned in the same way. You can also submit your KYC documents there instead of the need to visit the offices.
If the above points resonate with you, you can install the Revv app or visit the Revv website to get a Revv car subscription in just a few steps. Enjoy the assurance of a Revv subscription and the promise of unmatched quality of service.