Buy Vs Lease Vs Loan


#21

Consider a typical scooter, buying cost is close to 75K. In 3 years, you will be lucky to get 30K for it. So cost of ownership

Depreciation : 45000
Service : 12000 (ave 1500 per service incl oil change for 2/3 year, 1st year free)
Insurance : 4000
Fuel Cost : 30000 (around 800 per month)

So TCO of a regular scooter is also close to 90000 this without factoring the interest cost of money.

The equation will change drastically once the volumes kick in and electric vehicles become more popular IMHO


#22

Tks a lot. So it’s better to go for lease plan.


#23

I have just thrown in a calculation and my thought process…what to choose depends all on your use case…I am going ahead with full payment option because of my personal reasons…that is nothing but I believe I will be able to use Ather450 more than 3 years and in 3 years I has a break even with normal scooter and every km after that is a savings for me…if Ather would have made sense only for 3 years then I personally would stayed with my current 2004 model unicorn (which is still doing a good city commuter job)…and waited for couple of more years for the EV market to mature… Technology is definitely growing…but something on ground to compete Ather may take 3 years…by then I will be in my savings mode :slight_smile:


#24

I completly agree with you. If you travel 20KM daily, 5 days a week, then we can hope to breakeven with a honda activa only after 3 years. So if we are planning to own the bike beyond 3 years, it makes more sense to purchase Ather with cash.


#25

Tks, well noted. I also plan to own it for more than 3 yrs, so I will go for full payment.


#26

I agree with @georgekuruppan, @srinivas29, @kuvari100. It is all depends on use case and how we evaluate. All the best.


#27

Sorry for the delay in reply.

I went with this option,


#28

How long did it take for the lease to get approved? I submitted documents on 24th Feb but got an email today-26th feb that approval is taking longer than expected and will hear soon.


#29

Following are my timeline w.r.to lease

  • Dashboard updated for payment: 29 Jan 2019 (T0)
  • Lease application submitted : 29 Jan 2019 (T0+ 0day)
  • Lease approval : 30 Jan 2019 (T0 +1day)
  • Payment made : 01 Feb 2019 (₹69800) (T0+3days)

Generally, it should take 3 to 4 days. However, you may please call Autovert if you are struck.


#30

You can write to care@autovert.in or whatsapp or call at 07676217677 or 07676217678 ; they are fast in replying your queries…


#31

After how many days was the vehicle delivered after the payment was made? Following is my timeline till today

  • Pre-Booking: Tuesday, 05.Jun.2018
  • Initial delivery estimate: Oct-Dec 2018
  • Charging point assessment: Saturday, 16.Jun.2018
  • Revised delivery estimate: March 2019
  • Payment window opened: Friday, 22.Feb.2019
  • Documents submitted for Lease: Saturday, 23.Feb.2019
  • Lease application approved: Monday, 25.Feb.2019
  • Down payment: Monday, 25.Feb.2019
  • Non-Standard Installation payment: Monday, 25.Feb.2019
  • Charging cable payment: Tuesday, 26.Feb.2019

However, I’m facing one glitch. Even after payment, the dashboard says “confirm your order” (see screenshot below). When I say proceed, it takes me to a payment page and it says that the payable amount is 0. Then when I select the Finish button there, it comes back to this same page

I called the Ather customer care and they say that in the back-end the status has moved ahead and installation of the Point will happen soon. They assured me that I need not worry.

Edit: the software glitch is solved and below is what I see now


#32

if I look at your dates, it looks fine to me. As you had non-standard installation, probably this might be the reason for the delay. Be patient :slight_smile: it is just a matter of few more days :sunglasses:


#33
Event Date
Pre-book date June 5, 2018
Original Delivery Month Oct/Nov - 18
Rescheduled Delivery month February-19
Call for payment February 6, 2019
Payment made February 12, 2019
Lease application submitted February 12, 2019
Lease approval February 12, 2019
Assessment/Installation February 17, 2019
Insurance issued February 18, 2019
Call for delivery February 21, 2019
Scheduled Delivery date February 24, 2019 Done ! :slight_smile:

#34

Hope you have also factored in the cost of battery replacement (@5 years) and Out of warranty repairs/parts replacements after 3 years. Additionally the Insurance, electricity reimbursement and Ather subscription if you would be opting for it.


#35

Ather3%202years


#36

After 5 years, running 30k kms will i have to replace battery?..maybe i will be able to use it with a decent range to commute till it hit 50k kms :wink: …for me its not only about money…i am not convinced with the idea of buying and replacing in the 3rd year itself…feels like a use and throw…maybe a difficultly to come out of an orthodox consumer mentality…:thinking:


#37

In the ather one row for Ntorq and Unicorn, please add service cost of 10000 for 3 years and another 10000 for 3+2 years.


#38

Service cost is accounted in maintenance row…not sure about the correctness of the numbers though…


#39

Good one. Just thinking in what mindset I will be when my payment window opens.
Than You.


#40

I feel that lease gives you the flexibility, at the end of 3 years if you feel that strongly about keeping it, it will just cost you 10K.

On the other hand, if you buy and the vehicle doesn’t turn out as expected, you will get stuck with a vehicle that may not be very good and no one wants to buy