Buy Vs Lease Vs Loan


#41

I cannot disagree with you :slight_smile:


#42

I think, one can make a right decision after looking at this…

This one is from ICICI insurance website…


#43

Hi Folks - got the email that payment is now open for my A450!

Looking at lease vs. buy and found this thread.

How does the insurance work in case of lease? Who pays for the excess in case of any claims (I assume it’s me) and does the premium (included in the monthly lease costs I assume) go up or does it stay as is?


#44

Vehicle insurance is part of lease. However there is a caveat. Only 2 claims (max) per year can be availed. (I feel it is reasonable enough unless we are very unfortunate)

Lease fee is constant throughout the period of lease irrespective of depreciation, number of claims (insurance), etc., etc.


#45

Thanks for the details, much appreciated. I think this pushes me over to the lease for 3 years camp - highest downpayment, lowest EMI and I’m all set for the next 3 years.


#46

Is it possible to pay by cash? If so, do we have to go to the experience centre?


#47

Transaction is online.


#48

@Ather.Team When we lease, do we get a brand new Ather or it might be an old one?


#49

Its a new vehicle. I have not heard about a leasing service for old vehicles anywhere.


#50

Thank you.


#51

Some of the clauses from the actual lease agreement. Nothing out of the ordinary, but may be useful to anyone thinking of these clauses from a liability perspective.

x. In the event of an accident, Autovert will claim Insurance only if the estimated damage is more than Rs.5,000. The Member will be liable to pay the full value of damages, if it’s below the said limit. Autovert reserves the right to withold an amount of upto maximum of Rs.10,000 from any cashback payable or add to the retainer fee at the time of termination, to cover any damage to the vehicle that goes unreported till the termination of the agreement
x. If at any time it is determined that the losses/claims mentioned hereinabove will exceed the insurance coverage taken by Autovert, the Member will be responsible for any such excess claims/loss/damages.
x. For routine maintenance Autovert will inform the process much in advance, for which the Member has to make the vehicle available, ensure that the vehicle if required is taken to the authorised service center on the suggested date.

During the course of the agreement, the vehicle is expected to undergo normal wear & tear whilst in regular usage. Below is a limited (non exhaustive) description of what constitutes normal wear & tear for reference

What constitutes general ‘wear & tear’ for the purpose of calculating the refund of upto Rs.5000/ at the end of the agreement

  • Normal wear & tear of tyres, brake pads
  • Minor scratches on the body panels (this will exclude scratches made purposely - i.e. somebody inscribing their name, etc.!)
  • Normal ‘colour fading’ of plastic parts/ body panel
  • Regular wear & tear of rubber parts - ex. floor mat/ foot rests

What does not constitute general ‘wear & tear’ for the purpose of calculating the refund of upto Rs.5000/- at the end of the agreement

  • Any broken/ damaged parts. For Ex. broken rear view mirror, cracked/ broken digital dashboard, damaged seat (i.e somebody has ripped/ slashed the seat), broken/ damaged front/ rear lights
  • Any missing parts - this will cover the vehicle in its entirety, including any charging station/ additional charging cable that has been provided at the beginning of the lease plan
  • Vehicle has to be in a ‘ride away’ condition at the end of the PLUG plan

#52

From 2 experiences trying to fill the lease form (me and a friend), I can now confirm that the Autovert lease form experience is buggy AF. However with a little patience, the autovert team will make it work or load data on their backend directly. Those going for the lease process and facing issues, email care@autovert.in with the screenshot and your mobile #, and they get in touch via whatsapp to help resolve the issue. Calling Ather does not help as they don’t own this part of the process.


#53

Hi everyone,

As I mentioned earlier, my window got opened for payment and I had options of all three. I’m sure that the lease option is really good as mentioned by fellow Ather owners, but I still go with the outright buying option because of the following reasons;

  1. I’m a EV’s driver/rider since 2014 and I have a rough idea how it works.
  2. I have an e2o and even after almost 5 years the battery power has been reduced only by 2% to 3% (depends on your driving condition)
  3. my wife rides a Hero Electric Cruz bike since 2015 and battery capacity has been reduced by 4% to 5% ( this bike is good for only light weighted female rider)

However, the conclusion is I really believe in Ather 450 and it is built to last much longer (depends on individuals driving style) and also with our riding style we’re very sure we can use this bike for at least 6 years without any issue.

So, you guys can make a math, which one to choose between Buy vs Lease…


#54

Go for ‘Buy’ option if none of the said below are bothering you… (posted the link below)


#55

I totally agree with you. It’s only my choice because of one reason “Owning is better than leasing by far”.
You please answer that would you like to stay in an owned house or rented?


#56

I too decided to buy upfront. Considering your point as well as my need.
I feel Ather is already ahead of the curve and i am buying quite advance scooter.
First 3 year is anyway covered under warranty.
Even if there is something really changes (technology) my need still gets satisfied by Ather.
There is not limit to “Want” :slight_smile: so need to control the urge to upgrade.

I am hoping to keep ather for 5-7 years (fingers crossed) so for me it was ecnomical to go for outright buy.


#57

Me too, outright cash payment…


#58

@ayanahmedhussain I assume you meant, NEFT transfer or from bank cards :wink:
Or Cash Payment?!?!?!? :slight_smile:


#59

Well! Hope you are aware that even if you go for lease there is an option to own the vehicle by paying ₹10K/- at the end of 3rd year. Personally I felt it is good option as I can still decide at that particular point of time. If I decide to dispose , I still get my ₹75K back and buy a better Ather or some other advanced vehicle.

I fully agree, it is an individual decision!

Yes, I stay in my own nest.


#60

Yeah… NEFT transfer.
By cash, I meant full payment