Mahindra cars now available on a subscription-based ownership model
Mahindra and Mahindra have partnered with a self-drive car rental firm, Revv, to introduce a subscription-based car ownership experience for its retail customers. Under this scheme, customers can choose from six Mahindra models with costs starting at Rs 19,720 per month. Currently, this facility is available in Delhi (NCR), Mumbai, Pune, Bangalore, Hyderabad, Kolkata, Chandigarh, and Ahmedabad.
Under this initiative, the prospective customer can pay a refundable deposit based on the model chosen, and the usage period selected. The vehicle is then ordered and after usually a month-long waiting period, buyers will have to pay the first month's rental when they take delivery. This rental will then have to be paid on a monthly basis over the duration of the subscription. Subscription periods range from one to four years. Once the minimum duration is over, the person can return the vehicle, lease another one or buy it from the company at a pre-determined rate.
The monthly payment is inclusive of regular maintenance costs and keeps the user free from downpayments, risk or depreciation. Also, users can choose a different vehicle after the minimum tenure.
This service is available for the KUV100, XUV500, XUV300, Scorpio, TUV300, Marazzo and Alturas G4.