Buy Vs Lease Vs Loan

hemanth.anand · May 23, 2019, 10:44am

For pre-bookings done till a certain date (November 1st I think) Ather One subscription is inclusive. Hence it is mentioned as Zero
For new vehicles only 3rd party is mandatory for 5 years…Own damage is only for 1st year. Again that 7k and 6k are probable figures. As you’ve written you can get better prices too.

You can get just the own damage/Theft cover from the 2nd year. May not be listed on the website now but insurance

sureshbindingworks · May 24, 2019, 8:06am

How much time does it take to get the loan approval?

gt_ravi · May 24, 2019, 1:42pm

Anyone opted for Lease, Whose payment window open now? And status of your application?

chethan.bn · May 24, 2019, 1:46pm

I had applied for Lease on 22-May-2019 it got approved today. I need to transfer the money tomorrow and I am done

gt_ravi · May 24, 2019, 1:47pm

Well hope my application also get approval in couple of hours…

chethan.bn · May 24, 2019, 1:49pm

fingers crossed…

rjaswant · May 24, 2019, 1:54pm

@Shreyas Question on loan option -
Is there any prepayment penalty or foreclosure fees if we wish to close the loan early?

gt_ravi · May 24, 2019, 4:35pm

As promised @Autovert real time application processing or within 48 hours… Not happened… I lossed my full patience while waiting for bike in last 10 months… now I can’t wait one more day to have bike… I will cancel and go for full payment hope no problem in that

santosh.rism · May 24, 2019, 6:50pm

Yes. When payment window opened I saw charges mentioned for loan option pre-closure charges. And also for lease agreement pre - closure are applicable.

I missed to capture.

Can anyone have reference. Kindly share it with rjaswant.

rjaswant · May 24, 2019, 6:57pm

By chance do you recall how much the amount was?

santosh.rism · May 24, 2019, 7:02pm

No. I am not able to recall as my mindset was in making full payment.

rjaswant · May 26, 2019, 9:28am

I mailed Ather and got a response on prepayment/foreclosure fees.

Case 1 If customer wants to close the loan before 6 installments then he has to pay the interest amount coming for 6 months + 5% of the principal outstanding + remaining loan amount.

Case 2: If customer wants to close the loan after 6 installments then foreclosure charges will be 5% of the principal outstanding + remaining loan amount.

karthikballal · May 27, 2019, 5:17am

Anyone got the loan approved? My loan application is still in progress. I have not been contacted by the loan team. I have applied on 23rd May.

harishm25 · May 27, 2019, 6:20am

Same here. The status says “In Progress”.

suurs.12 · May 27, 2019, 4:48pm

I want to thank everyone who explained about the buy vs lease option. I finally made the decision to go ahead with the lease option with maximum down payment. Applied for lease last night and it got approved and already paid the amount. Waiting for the delivery in the next week.

gt_ravi · May 27, 2019, 4:51pm

Great… they approved faster…

karthikballal · May 28, 2019, 10:01am

Anyone got their loan approved? I don’t have any updates from loan team. @Shreyas Can you please help us on this.

Thanks,
Karthik

diwakar.mrd · May 28, 2019, 3:52pm

Hi

I have applied for Lease plan and it is showing as approval pending. If the approval is rejected, then i can pay the amount in one shot?

Could any one pls help me in letting me know.

gt_ravi · May 28, 2019, 4:29pm

When you applied?

gt_ravi · May 28, 2019, 4:34pm

If you interested to change from lease plan to pay at once… while seeing status right top side you find change plan. Select that once again application starts that time you can select pay at once option, again it ask few documents to submit and later options to pay website with 2% fee or you get NEFT transfer option.