With the help of subscription service, you can take any car home without down payment, without insurance and other charges.
Car Subscription Plan
Nowadays every company is coming up with car subscription plans to attract its users and increase sales. Day by day automobile companies are including their different cars in this list. In the month of January, Maruti Suzuki India included the Wagon R, S Cross and Ignis under the subscription program. The company launched this program in September itself.
So far, the company has launched 10 models in 8 cities of India under this subscription program. In which Delhi, Bangalore, Hyderabad, Pune, Mumbai, Chennai and Ahmedabad are included. At the same time, Tata, Hyundai, Nissan and other car companies have also joined the list, which are offering subscription plans to their customers. Today, Nissan has included three of its vehicles, Magnite, Kicks and Redi Go, under this service.
What is a subscription program?
With the help of subscription service, you can take any car home without down payment, without insurance and other charges, that is, you have to pay a fixed amount every month for the vehicle. Whatever charges you pay for the month, your full maintenance, insurance and roadside assistance will be covered.
While Maruti started its subscription service in September 2020, Hyundai started this service in March 2019 itself. Today Hyundai is offering this service in 20 cities. While Maruti has partnered with Oryx Auto Infrastructure Service India for this, Nissan has also partnered with the same for Magnite today. Orix is a Japanese company.
How does the subscription program work?
For this, you have to subscribe to the plan and pay charges every month. The leasing company and the OEM will be responsible for maintenance, insurance. You will get the car plan for 24, 36 and 48 months. After the end of the subscription period, customers can either extend it or upgrade the vehicle and finally buy the vehicle at the market price.
In the subscription scheme, you will get two number plates. One would be a white number plate in which the car would be registered in the name of the customer and the other would be a black number plate registered in the name of the leasing company.
How much money have to be given?
Subscription plans are expensive. If you are taking Maruti Wagon R Lxi, then you will have to pay Rs 12,722 every month, while for any other vehicle Rs 13,722. At the same time, you will have to give it for 48 months. On the other hand, if you take a white number plate vehicle and that too for 3 years, then you will have to pay Rs 15,496 every month in the name of subscription fee, which will be a total cost of Rs 5.57 lakh. That is, if you take Maruti Swift Lxi under this program, then you will have to pay the above price.
But if you buy an on-road car, you will have to pay Rs 5.5 lakh. On the other hand, if you take a loan of Rs 4.5 lakh, then you will have to pay Rs 14,300 every month for three years on the loan at the rate of 9 percent. But in this you will have to initially pay 1 lakh rupees for registration and insurance. Even after this, you will have to spend. In such a situation, after looking at the subscription program, it became clear that the on-road price of the vehicle is also coming exactly the same and there is no difference between the two.
For which customers this service is best
Car companies directly say that, this program is not for any common customer. This is for those people who change their car every 2 years and stay away from the hassle of buying and selling. Whereas those who do not have money to pay the down payment. On the other hand, if you move from one city to another every 2,3 years, then it also saves the cost of transporting the vehicle.
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