Volkswagen India announces its partnership with Orix for a subscription-based car ownership model. In the initial phase, this will cover around 30 outlets located in various cities. This includes Delhi NCR, Mumbai, Pune, Ahmedabad, Bangalore, Chennai, and Hyderabad. Customers will get 100% on-road financing, periodic maintenance, insurance cover and an option to upgrade or return the car at their convenience. The models covered under this initiative are Polo, Vento and T-Roc.
Customers will get three tenures to choose from – 24, 36 and 48 months. Volkswagen mentioned that the rental charges start from INR 16,500 for Polo, INR 27,000 for Vento and INR 59,000 for T-Roc. Customers can visit the Volkswagen India website to begin their car subscription program starting from 9th September 2021.
Car Subscription Gains Popularity In India
In recent years, car subscriptions have gained much popularity in the country. The young and urban middle class, looking for a hassle-free and convenient car ownership experience, have shown great interest in this model. One of the main reasons for the growing popularity of this model is its financial flexibility. The customer need not pay any upfront amount to avail of the service. All they need to do is subscribe to a specific plan and pay the monthly rental charges. And to the convenience, this amount will take care of all other charges like maintenance, insurance and roadside assistance.
Who Owns The Car In This Subscription Model?
Owning the car has two options, neither a white number, in which the vehicle is registered to the customer’s name and hypothecated to the leasing company. And in the black number plate, the car is registered with the leasing company’s name. The subscription model is perfect for customers who do not want to go through the hassle of buying a brand new car and then selling the vehicle. In addition to this, the subscription model also provides the flexibility to change the car over a period of time, which is a great plus point for some customers.
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