Get free EMIs for three years by advertising on your new car
An out-of-home (OOH) advertising company, Dreamers Media and Advertising, has come up with a deal to share Equated Monthly Installments (EMI) of car owners in return of use of those cars as moving ad boards. This is an innovative concept targeting low- and middle-income groups and their aspirations to own a four-wheeler.
The Pune-based company announced that it would pay the EMIs for 3 years, while the owner gets a loan period of 5 years in addition to making the 25 per cent down-payment when buying the car. In turn, the company would use 40 to 60 per cent of the vehicle's space to put stickers of its clients. Car owners need to drive an average of 1500kms every month to be eligible. To monitor distance covered, the company fits a GPS system in the car. Another catch is that the on-road price of the car shouldn't exceed INR 6 lakhs.
"With our unique offering we intend to create demand and give a boost to the auto industry which is currently going through a lull phase. It will allow a common man to translate his aspiration of buying a car into reality. At the same time, the concept will also enable brands to reach in the most interactive manner to a wider target audience and create a new communication medium in the OOH space which still is at a very nascent stage and is poised for growth," said Sunis Mohamed, CEO, Dreamers Media and Advertising Pvt. Ltd.
Dreamers is already talking to auto majors the automotive sector, and the company is also looking at associating with various national and private banks and insurance companies as well.
Car owners may, understandably, feel awkward driving around in a car covered with advertisements but it's hard to argue with the monetary offset.
"Someone who has purchased a car fully even can earn through this concept. This way the car, traditionally a depreciating asset, turns into a performing asset," said Sunis Mohamed, CEO.
