What is Car Subscription ?

 

Subscription is a new form of car ownership in which you can own a car for a limited time period (Short tenures) and pay a fixed monthly rental for the same. All hassles of maintenance and insurance are taken care by service provider during the subscription period.

Benefits of Subscription:

• No Down Payment
• No hassles of Insurance and Maintenance
• No risk of resale value
• Tax Benefit to Self-Employed personnel and Businesses
• Flexibility to change tenure and vehicle during subscription
• Convenience to get all inclusive package and change your vehicle after short tenures
• Matches your needs if you are in a transferable job and keep changing cities

Demerits of Subscription:

• Costly as compared to ownership
• Have to return the vehicle at the end of tenure
• Limit on Kms you can drive during the tenure, you are charged for extra Kms driven
• High Penalty charges in case of foreclosure

Subscription Service Providers:

There are many Subscription service providers in India and even OEMS have offering subscription. List of subscription service providers in India are as follows:  

• Zoomcar
• Revv
• Mychoize
• Myles
• Maruti Suzuki Subscribe
• Hyundai Subscription
• Mahindra Subscription
• Tata Motors EV Subscription
• MG Motors Subscribe