How to Lease a Car for Less than a Year in India ?
How to Lease a Car for Less than a year in India? - Details on Car Leasing & Subscription
We have probably come across the concept of leasing a car. Back in the days in the Indian automotive market, leasing a car was usually restricted to big corporates and for luxury vehicles only. With the change in time, we now see that there are many new leasing companies offering car leasing for all kinds of consumers . You can now lease any new car of your choice in India - Hatchback, Sedan, SUV or even an Electric Car
Although leasing a car comes with certain terms and conditions which include tenure and usage. And these factors play a vital role in setting up the lease amount. Coming to the tenure, usually, a car lease starts with a minimum tenure of 2 years while certain companies have also started to offer a minimum period of one year as well. But what if you want to lease out a car for less than a year? This has now been made possible with the help of a car subscription.
What is a Car Subscription?
A car subscription is a concept in which you are offered a flexible option to use a car for a short term. This is very beneficial when you will be needing a car for a short tenure or some emergency and you won’t have to face the hassles of a lock-in capital in which you will buy a new car.
With the help of a car subscription, you will be able to get your hands on a car for a fixed term which starts from one month and it can be extended up to 6 months or ranges to 1-2 years as well. The rental amount will be inclusive of car usage charges, insurance, maintenance, and Roadside Assistance.
Advantages and Disadvantages of Car Subscription?
Leasing comes with a long-term contract which ranges from 2 years to 5 years, whereas a car subscription gives us the option to subscribe to a car from 1 month up to 2 years.
Some of the leasing contracts don’t come inclusive of service and maintenance, whereas car subscription does come included with them.
You can choose the exact car variant and colour while leasing a brand new car. But incase of subscribing a car for less than 1 year, Your car variant and colour is subjected to availability
You may not get a brand new car while subscribing the car for short term - 1 month to 12 months. The car condition could vary from a new car, as good as new or an old car based on the inventory.
You can easily subscribe to a car with the help of your Credit Card. This makes the process a bit easy as the credit requirement to lease a car is very stringent as compared to a car subscription.
The car allotted to you when you subscribe to a car will get a commercial or yellow number plate. Whereas the car allotted via leasing comes with the regular white number plate.
What are the Eligibility Criteria to subscribe to a car?
You should complete or be above 18 years of age to subscribe to a car.
A valid Indian driving license is required with atleast 1 year of driving experience along with photo identity, address proof (e.g. original Passport/Aadhar card).
Foreigners can even subscribe to a car with the help of an International Driving License as well.
If you’re subscribing it through your company you will have to submit your registered company address as well.
You can easily subscribe to a car if you hold a credit card.
You need to produce the KYC Documents - Photo identity, Address proof (e.g. original Passport/Aadhar card) while picking up the car from the nearest pick-up point or at the time of car delivery at your door-step
Check out all the details, offers and subscribe popular cars by simply visiting our car subscription page.
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