New Car: Bring a new car without giving down payment and insurance, this is the scheme

Car Subscription Service: It is not necessary to pay down payment and insurance money for a new car. Now you can save on all these expenses and bring home a new car. Let us see the complete details of this scheme.

Car Subscription Benefits: You do not need to spend lakhs of rupees at once for a new car. You can even bring home a gleaming new car without paying the down payment and insurance premium. You can do this with the help of car subscription service. Almost all the auto companies in India offer car subscription service. Under this, you do not need to buy a car permanently, rather the car remains with you for a certain period of time. For this you have to pay a charge every month.

Under this model, you do not need to pay down payment or EMI. The advantage of car subscription is that you do not have to worry about things like insurance, maintenance of the car.

The company itself bears all these expenses. However, for this the company will charge every month. Let us see how this scheme works, and what are its benefits.

Opportunity to drive new cars

If you are short of budget and do not have money for down payment, then car subscription can be a good option. This service is like taking a car on rent. If you wish, you can change to another car after a few months. That is, you will get a chance to ride different cars. However, you may have to pay a monthly charge in excess of the EMI.

These companies provide service

Automobile companies like Maruti Suzuki to Hyundai, Mahindra, Nissan offer this service. However, this scheme is not applicable to every car or model, only selected cars will get the benefit of this service. If you want to bring a new car home under car subscription, then documents like ID proof, address proof, driving license have to be given.

Will get rid of expenses

Usually car companies give cars under subscription from 3 months to 3 years. However, the car is not registered in your name. Its registration is in the name of the company. Expenses like car breakdown, maintenance, insurance etc. are borne by the company itself. If you buy a new car, its value depreciates with time, but there is no such tension in the subscription service.

( Disclaimer: This article is for information only. Before buying a car under car subscription, do take expert advice.)