Car Subscription vs Car Buying: Buying a car in India is still considered a status symbol. Buying a car is easy for some people, while many people have to face many problems ranging from financial problems to its maintenance. There are many difficulties that one has to face in buying a car, the first thing being a huge down payment. Generally, you need to have a minimum amount of Rs 1 lakh to Rs 2 lakh for the down payment, after which your monthly EMI starts. Apart from this, other charges including periodic service, insurance renewal also have to be paid. So buying a car and maintaining it is a big task. If you want that you have a car but do not have problems related to it, then there is a solution for this too. In today’s time, if you want, you can also take a car on subscription. In this article, we are going to tell you the advantages and disadvantages of buying a car and taking it on a car subscription. With the help of this, you will be able to understand which of the two options is better for you.
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Benefits of getting a car subscription
no downpayment
Car subscription is like any other subscription. In this, you have to pay a fixed amount every month and in return you can keep a car with you. You do not need to pay any kind of down payment in this.
Will not have to pay insurance or road tax
In this, you do not have to pay annual insurance renewal or road tax etc. From the insurance to the charges levied by the RTO, everything is taken care of by the original owner of the car. That way, as long as the car is with you, you don’t have to worry about any ‘extra’ expenses.
no maintenance fee
Almost all car subscription companies now offer this as a feature. You’re paying a subscription fee, so you don’t have to pay for periodic maintenance at all. All these will be taken care of by the company that legally owns the car you use.
You can subscribe to a new car whenever you want
Generally you rent a car for a fixed time. This period can range from 6 months to 48 months. So once the subscription tenure is over, you can easily subscribe to a new model.
tax exemption
One of the highlights of these subscription plans is the tax exemption. You can get up to 30% tax rebate on subscription fee. In this way, you can save a lot.
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Disadvantages of taking on a car subscription
limited number of kilometers
It’s actually like renting a car for a day or a few days. Some car subscription companies put a limit on the number of kilometers the car will run. You cannot drive a car beyond this limit. If you drive a car more than the prescribed limit, then you will have to pay an additional fee for this.
no use for car accessories
If you always customize the car to your liking, then the subscription option is not good for you. Even if you have subscribed the car for 3 years, you still cannot own this car. So there is no point in modifying the car.
you are not the original owner of the car
Having a car in your name is a different feeling and even a status symbol. So, in a country where buying something is considered bigger than getting a subscription, you won’t be able to feel the feeling of being the real owner.
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