As India’s automobile market is growing with each passing year, new customers are constantly being added in the country. More Indian families are buying their first car but car ownership can be fearful for many and Revv, which is a car rental website has started offering car leasing plans in India. The brand also offers vehicles from Maruti Suzuki, which is the largest manufacturer in India. People who do not want to get involved in the ownership of a vehicle but want to enjoy the benefits of ownership can go for leased vehicles instead of buying a new one.
The leasing of a vehicle involves in paying a monthly subscription to Revv, which includes the scheduled maintenance of the vehicle too. However, the customers will have to bear the price of the insurance premiums of the vehicle during the tenure of the lease. The vehicle can be subscribed for a minimum of 12 months and a maximum of 48 months, after which the vehicle has to be either returned to Revv or the customer will need to buy the vehicle. It should be noted that the vehicles available for the subscription services do not bear the private black-on-white numberplate but they get the commercial number plates. Such cars with commercial number plates need to pay state tax when they cross the state border. It is not mentioned if the pre-paid tax is paid for the neighbouring states. Currently, Revv is offering the services in six Indian cities including Delhi-NCR, Bangalore, Pune, Hyderabad, Kolkata and Mumbai. However, the service will expand to other cities soon. Here are a detailed ownership cost and leasing cost for popular Maruti Suzuki cars in the Indian market.
Maruti Suzuki Swift
This is for the Maruti Suzuki Swift VXI manual variant. According to the Revv website, the monthly fee for the first 12 months is Rs. 19,490 per month while after that, the monthly fee comes down to Rs. 14,690 per month until the 48th month. If the car subscriber plans to buy the vehicle after the 48th month, a settlement charge of Rs. 1,67 lakhs will have to be paid, which will transfer the vehicle registration to the subscriber. Also, the insurance during the owner of 48 months comes out to be Rs. 1.01 lakh and the total ownership cost comes to be Rs. 10.81 lakh after 5 years.
In comparison, a customer has to pay Rs. 1.85 lakh as the downpayment, road tax and first-year insurance when buying a new Swift VXI in Delhi. The monthly EMI would come to around 12,075 and the maintenance is likely to be around Rs. 96,000 as per the usage. At the end of the 48th month, the total cost of the ownership will be Rs. 9.61 lakh.
Maruti Suzuki Dzire
For the Dzire VXI manual version, the subscriber will have to pay Rs. 36,961 up front to get the vehicle while the monthly fee for the first twelve months is Rs. 20,790 while from 12th to 48th month, the monthly fee reduces to 15,990. The total insurance renewal comes out to be Rs. 1,10,883, while settlement charges to buy the vehicle, is Rs. 1.88 lakh. The total comes out to be Rs. 11.69 lakh while the ownership cost by the end of the 48th month for the same variant is Rs. 10,71,259.
Maruti Suzuki Vitara Brezza
The best-selling UV in the Indian market, Maruti Suzuki Brezza is also available under the subscription scheme. According to the details provided by Revv, if the owner buys the vehicle by the end of 48th month of subscription, the total cost of ownership will come out to be Rs. 14.32 lakh while buying the vehicle will turn out to be profitable at the end of the 48th month and the total cost of ownership will be Rs. 13.34 lakh.
Maruti Suzuki Ertiga
The all-new Maruti Suzuki Ertiga has become extremely popular in the Indian market. The all-new version is available for the subscription services by Revv. According to the website, if the customer chooses 48 months of lock-in period for the subscription, the total cost of ownership will come out to be Rs. 14.18 lakhs while the ownership cost if the vehicle if the customer buys the car in the first place comes out to be Rs. 12.84 lakhs.
Maruti Suzuki Baleno
All the variants of the Maruti Suzuki Baleno are available for the subscription services by the brand. The entry-level 1.2 Sigma will cost Rs. 10.34 lakh if the owner buys the vehicle after 48 months while the ownership cost when the customer buys the vehicle privately comes out to be Rs. 8.96 lakh.
Maruti Suzuki Ciaz
Maruti Suzuki Ciaz is the only vehicle in the segment that is available with a mild-hybrid system. The Delta 1.5 petrol version of the sedan will cost Rs. 15.29 lakh after the end of 48th months if the owner chooses to buy the vehicle. The cost of ownership drastically comes down 14.14 lakh when the owner buys the vehicle first-hand.
The lease plans will perfectly suit the customers who like to change the vehicle every now and then. The customers can return the vehicle after the lock-in period of 12 months anytime. Other Maruti Suzuki cars like the Alto, Celerio and WagonR are also available in these leased plans.