Sharing Autovert’s responses to queries on post-lease deductions, the inclusion of insurance cost and GST, and foreclosure of lease below.
Deductions at the end of 36 months:
- No deductions for standard wear and tear - i.e. tyres, brakes, handle grips, rubber parts etc.
- No depreciation fee or any other charges on reduced battery performance (if any at all)
- Only in cases where there is visible damage/ abuse to the vehicle, there will be some deductions, which however is capped to Rs.5,000/-
All rentals mentioned include GST
- The lock-in period is only for 12 months, after that the customer is free to exit anytime
- If a customer chooses to pre-close within 12 months, then the 12-month rental will be due (adjusted with the down-payment)
Illustration: Downpayment - Rs.40,000/ and exits at the end of 9 months
The vehicles are covered for insurance for the entire period of the lease. The customer does not pay for any insurance (~Rs.15,000/ in a 3 year period). However, in case of own damage (including wilful damage/ abuse/ negligent maintenance etc.), where the damages are determined to be below Rs.5000/, the customer is liable to bear the cost.