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Now you can get a new car on lease with zero down payment!

There is excellent news for all the people who can’t buy vehicles at high rates. Now you can drive a dream car at your home without making any down payment. Yes! You heard it right and the credit goes to lease programmers by Mahindra, Fiat, Skoda, and Hyundai. The Hyundai company is offering SUV Creta’s base version on a monthly rent of Rs.17,652 only for a total of five years. If someone wants to buy the same car, then the person will have to pay down payment along with monthly instalments of Rs.18,901 every year. The down payment will be around Rs.2.73 lakhs for this car and that’s why the consumer will get benefitted with this deal.

Read More: All Upcoming bikes under 2 lakhs in 2019

The Skoda Auto will allow the consumers to save more than Rs.17 lakhs after leasing a luxury sedan with a petrol powered engine. The Ather Energy would start giving Ather 450 battery powered bike on lease options with rent of Rs.2500 every month. The down payment of Rs.75000 is returned to the consumers after three years. The automobile companies are trying out new ways to energize the market. The working professionals and salaried individuals can get Hyundai cars on lease. The public sector organizations, small companies, corporate enterprises would also be able to get vehicles on lease. 

The maintenance-free vehicle lease options 

Under the lease, car maintenance or bike maintenance will be done by the automobile company regularly. When the lease period would end, the car would be sent back to the automobile company. You can also decide to purchase the vehicle after the lease period ends. In developed countries, car leasing is a common thing as compared to India. The maintenance charges won’t have to be paid by the company owners. Car leasing is a great way to acquire a vehicle without making a purchase or taking a bank loan. 

Actual different between vehicle loan and lease 

The people who don’t understand the finance language might have some doubts regarding lease and loan options. When you take a car on loan, then you are required to pay down payment along with monthly EMIs. The maintenance, insurance, funding, and risk covers would be your responsibility only. When you are acquiring a vehicle through lease, then you will take it for a particular period where maintenance, risk cover, and insurance is taken care of by the company. You aren’t required to pay down payment, but you will only pay for EMIs every month till the lease tenure ends. 

How will car lease be beneficial to the people?

Indians haven’t accepted car lease as an option for themselves, but it can be beneficial as you won’t have to make down payment. There are several people who face financial issues when they have to make down payment to purchase a vehicle. The maintenance, admin benefits, accidental repairs, insurance, and finance, are covered in rent. So, the customer won’t have to worry about car maintenance at all. The partnership firms, sole proprietors, corporate, self-employed people, and government employees would be able to take the vehicle on lease. If there will be any drop in the market price of the vehicle, then it isn’t going to affect the rent or lease. 

The lease is calculated by reducing the actual sale price of the car to the end that it will include interest along with maintenance and insurance. The vehicles taken on leaser are provided to you for a particular period. When the lease tenure ends, the vehicle is taken back by the leasing company. If the customer wants to purchase the car on market price, then he/she can do so. The repair works are included in the rent, and that’s why the consumer won’t have to worry about its maintenance and repair. If the damage is done by the third party, then the consumer will have to file FIR to avoid any issues later. The replacement car will be provided to the owner if the vehicle is under repair for more than one day. 

So, these are several reasons due to which the car lease project of the several auto companies in India would be successful. The people would love to try something new when they get benefitted with it. The youngsters might use the lease options, but the mid-aged and old-aged people are not likely to find this option attractive. The people who love to try new cars from time to time can get benefitted by the lease plans. The final results would be found out only after the establishment of projects by the respective automobile companies.

Read More: All Upcoming bikes under 2 lakhs in 2019

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