Hi Praveen,
Here’s the information we shared about the upgrade/exchange program:
If you’re on lease, you’ll have to complete atleast a year on the current lease plan as per the current lease terms. If you choose to upgrade, you’ll get your current lease refundable deposit (minus an exit fee) adjusted towards the new refundable deposit and continue to pay a revised monthly rental. There would be minimal paper work, no processing fee, no KYC/credit checks and no hassle of selling the vehicle.
For example:
If you purchased the 450 on lease and the upfront payment was Rs. 60k and monthly rental was Rs. 2589, post 12 months you’re eligible for a refund of Rs. 48k on closing the lease.
For the 450X, if your downpayment is 99k, you’ll have to pay 99k-48k = 51k and the revised monthly lease rental.
We’re working with leasing partners for the new plans and will announce them soon.
For all other customers:
We’re working on offering customers a “Ather Health Certification”, which will use deep system data to ensure:
- Dashboard functionality
- Battery health (SoC, performance)
- Motor health
- Peripheral system function
These data are gathered from vehicle performance logs, User ride statistics, periodic servicing logs, and charging logs.
Once you get this health certificate, we will help you sell your current Ather 450 through an exchange partner and you can pay the remainder towards the 450X upfront/loan/lease payment.
- Ather will tie up with exchange partners to provide easy exchange options.
- We’re estimating current market value of pre-owned Ather 450 to be round Rs. 85k - 95k depending on age and condition on different platforms.
Hope this answers your queries. Over the next couple of months, we’ll come out with more details on the exchange/upgrade program and how it’ll exactly work. 