A new car is a great way for many people to get around, but some people can’t afford it. The only other option is to buy a used car or borrow one from a friend. But the trust issue makes automobile sharing a challenging try. Consider subscription-based arrangements and shorter leasing periods in this situation.
People already use subscription services and lease cars instead of buying new ones. Car rental or subscription is cheaper, safer, more private, and gives you more options than buying a car.
In India, car subscription services are growing more popular as an alternative to buying a car. Subscription models are becoming more common in many consumer services, but it’s hard to imagine them being used in the auto industry.
Maruti Suzuki, Mahindra, and Toyota offer subscription plans. Smaller businesses like Mylescars and Avis India are getting in on the trend. Let’s take a closer look at the car subscription model and find the best car subscription service in India.
- What is a Car Subscription and How Does It Work?
- How to Find the Best Car Subscription in India?
- What Are the Best Online Car Subscription in India?
- Basic Requirements for Online Car Subscriptions in India
- What Are the Benefits of a Car Subscription in India?
- How to Cancel a Car Subscription in India
What is a Car Subscription and How Does It Work?
In many ways, car subscription subscriptions function similarly to temporary car rental agreements. After you’ve made your choice and passed the Know Your Customer checks (KYC). Also, if you have a valid driver’s license, you will be able to get your car. You can usually extend your contract month-to-month. Some companies even let you buy or trade in your car at the end of your lease.
Getting a car through a subscription is a new car model in India. There are well-known brands like Maruti Suzuki, MG, Toyota, and Mahindra, as well as less well-known ones like Avis India and Mylescars. Customers pay a monthly or annual price to use a vehicle under one of these companies’ subscription systems, like Hyundai’s.
They’ll be responsible for paying for gas/fuel, but the leasing firm will handle everything else. This includes registration, insurance, regular maintenance, and road tax.
Subscription plans and operating leases last 12–56 months. After the first subscription or leasing period is over, the customer can keep the car, upgrade it, or downgrade it.
How to Find the Best Car Subscription in India?
If you’ve decided that a car subscription service is the best way to get a car, it’s obvious that you should choose the best one. But where do you look for India’s most reliable automobile subscription service? Consider these criteria when shopping for a reliable car subscription service.
Check the Conditions
You should read the terms and conditions of the contract before starting a car subscription. Your provider should disclose cancellation policies, additional services, and fees. It should raise red flags if they hide it in the fine print. We will discuss specifics in detail later in the article.
Additionally, choose a firm that caters to your particular needs in terms of ease of use. See what’s included in the app as far as concierge services go, as well as the standard lead times and delivery fees.
Car Age and Tenure
You should also be able to specify the length of your subscription and the total number of miles driven through the use of a filter. Similarly, you can customize the car’s age to suit your needs. A subscription service with such options is more straightforward to use. When looking for a car, it saves a lot of time to narrow down the choices based on your desired features.
Non-Binding Delivery Times
Most service providers’ fine print states that any promised arrival dates for your car are merely estimates. According to several subscribers, promised delivery schedules have not been met. Remember this, and build up some cushion time for delays. In particular, you should put off any essential or time-sensitive plans for that day, like flights or important meetings.
What Are the Best Online Car Subscription in India?
This is the list of top companies offering online vehicle subscription services in India.
Twenty-two of India’s most populous cities are covered by Revv, an automobile rental, and subscription service. On Revv Open, you can subscribe to both new and used Hyundai and Mahindra models. All Indian tourist permits are included in the contracts. Subscribing to one of these automobiles costs anywhere from 10,499 INR to 40,000 INR monthly.
The monthly fee covers everything except the cost of fuel. This includes insurance, taxes, roadside assistance, and regular maintenance. You can access your Revv Open subscription through the official app or website. The application process involves verifying your identity and employment, not your CIBIL score.
Your down payment will vary depending on whether you subscribe for a new or used vehicle. A brand-new vehicle has a 30–45 day lead time, while an unboxed vehicle has a 7–15 day lead time. After receiving the keys, you may use the vehicle subject to the following conditions:
- A maximum annual distance of 25,000 kilometers is available, with a 30% discount for pre-ordered higher yearly mileage totals.
- Gasoline costs money.
- The subscription fee includes repairs, breakdown cover, insurance, and taxes.
- Even if you let other people drive the car, it is still your duty.
- Highest Rated Self-drive car rental and subscription service in India
- Wide Range of Cars Available
- Choose your Fuel Option
- Flexible Subscription Plans: Minimum 1 Month, extend anytime Only 5000 ₹ Refundable deposit
- Delivered to your Doorstep, Easy & Safe Payment Options
- The cars may not always be accessible when you need them.
Retailers and businesses can take advantage of a subscription service on the Quiklyz digital platform. Quiklyz lets its customers rent brand-new electric cars and SUVs without the usual problems that come with owning a car. Things like paperwork, insurance, regular and sudden repairs, towing, etc.
For a 3W electric load, you can subscribe for as little as INR 13,549 per month. The cost of a 4W electric load can reach INR 21,399. Quiklyz plans to provide services to fleet managers as part of its corporate sector. On the other hand, the company’s retail division will serve a wide range of customers, such as traditional wage earners and young business owners.
- The monthly cost is less than that of a car loan, and there is no down payment required.
- Since the monthly payment is always the same, you never have to worry about unexpected repairs, how much the car will be worth, etc.
- With a personalized white license plate and RC in your name only, you don’t have to worry about selling or taking care of the car.
- At the end of the contract’s term, the customer may choose from several options, including a return, an extension, the opportunity to buy, or an upgrade.
- This company’s policy has no risk-free way to try out the service.
Myles Zero is a car subscription service that works mostly with businesses. They offer on-demand vehicle access, drop-off, and emergency repairs.
Myles Zero sells subscriptions mostly to businesses because its packages include many cars. They also have a 6-month requirement. Subscribers can choose between new or pre-owned cars and a yearly mileage cap. Monthly fees for this automobile subscription service range from 13,000 INR to more than 100,000 INR. The Myles Zero service is easy to use:
- Submit a request for a service demonstration via the Myles Zero website.
- Choose the vehicle(s), subscription period(s), and annual mileage(s) you want.
- A valid PAN card, driver’s license, and ID (Aadhar card) are required.
- Please coordinate vehicle delivery.
An optional pick-up and drop-off service, insurance, routine maintenance, and roadside assistance are available. The deposit is equal to one month’s subscription (the exact price varies per car and plan) and is fully refunded if you cancel within the first 30 days. We also require a signed contract and a monthly payment plan via automatic bank draught.
- Free fuel, insurance, and breakdown service for as long as you need.
- The monthly charge already included the cost of fuel.
- It offers members the chance to test-drive various vehicles before making a purchase.
- It’s not available everywhere.
ORIX offers an automobile subscription service called MyChoize Self-Drive. ORIX operates the second-largest car subscription company in Japan and oversees a fleet of more than 60,000 vehicles from its Japanese headquarters.
You can rent one of My Choize’s 25 automobiles in India’s major cities for as little as 24 hours. With a MyChoize subscription, you can travel as much as you like. You can expect to pay between 1,000 and 100,000 INR monthly for this subscription. In just four easy steps, you can get to every part of the MyChoice service from your mobile device:
- Find what you’re looking for and select it.
- Please scan and upload digital images of your driver’s license and a photo ID from the government, like a passport or Aadhar card.
- Receive your vehicle delivery at your residence or a prearranged meeting place.
- Make plans to come back whenever that may be. When you return the car, you get your deposit back and can use it against another rental. As an alternative, extensions with a minimum of 4 hours’ notice are possible.
- The subscription incorporates all necessary insurance, maintenance, and emergency service coverage, much like comparable plans from other companies. Your mileage is unlimited, and you only pay for the fuel you use.
- Zero insurance and maintenance cost
- 30+ car variants
- The easy subscription upgrade process
- Cheaper than car EMI
- The need for human involvement for the bot to function successfully raises privacy concerns.
MYNEWCAR, situated in Mumbai, is a marketplace where buyers and sellers of cars from different brands may meet. They have just raised $1 million in a pre-series A fundraising round. Angel investors, whose identities are being kept secret, have provided the bulk of the capital.
MYNEWCAR was founded by Madhukar in 2015. India’s biggest cities use it, with others following soon. MyNEWCAR’s car prices are updated regularly and checked to ensure they are accurate.
MYNEWCAR is India’s first online marketplace for buying, leasing, or subscribing to a car, with the best deals for both private and business customers. Their advisor will find out what you need, see if you qualify, help you choose a car lease with financing, and give you advice on the best leasing options.
- It compiles reviews from a wide variety of users.
- It provides detailed pricing and feature information about the car you want to buy.
- You won’t find any useful information on used automobiles.
Basic Requirements for Online Car Subscriptions in India
Most monthly car subscription services have these terms:
- The bare minimum age requirement ranges from 21 to 25.
- You have had your driver’s license for at least a year and have a photocopy of your PAN card.
- You’ll need to show proof of your current Indian address, like an Aadhar card or passport.
- It would help if you had a CIBIL score of 700 or above.
If you meet all of these requirements, almost any company should be able to give you a car subscription.
What Are the Benefits of a Car Subscription in India?
You can get your dream car faster, easier, and more cheaply through a subscription service, and we’ll explain why.
No Worry About the Resale Value
There is no need to worry about depreciation after subscribing to an automobile. This is like driving a car and exchanging it in for a newer model without losing money because car values drop.
No Down Payment
In all other respects, auto-subscription is the same as any other. You get all the perks of having a personal car for a set monthly fee. Here, the required payment is small, and there’s no need to drain money for a large down payment.
No Maintenance Charges
Nowadays, almost any auto-subscription service will include this perk in the price. You don’t need to worry about recurring costs like maintenance because you’re already paying for it in your subscription fees. The business that owns the luxury cars you’re driving will handle everything.
How to Cancel a Car Subscription in India
If you stop driving or move, you can cancel your subscription. You can change your mind about the car anytime without a commitment. Select “Your Subscribe and Save items” from “Your account” to terminate your subscription.
- Go to the Subscriptions menu.
- To learn more about the item, please click on the picture.
- Follow the prompts to cancel your subscription once the screen pops up.
- Choose your preferred excuse for backing out.
- Select those as mentioned earlier and the “Cancel my subscription” option.
- Ending your subscription 10 days before your Subscribe and Save date would help.
In India, a car subscription is a novel idea. But, it will reportedly revolutionize the Indian automobile industry. Given India’s vehicle culture, car subscription growth is surprising.
We can see these tendencies at work throughout the world right now. Car-sharing and subscription industries could be worth $492.6 billion by 2025. So, subscription-based car rental is likely to change transportation.