Q. What is lease?
Lease means the right to use. In a lease customer only pays for the period he uses the car.
Q. How is lease rental calculated?
Lease rental is calculated based on a residual value based funding. Residual Value is the % of the on road cost price of the car, which is reduced from the total cost of the car for calculating the lease rental. Thus the customer only pays for the part of the cost of the car which reduces his lease rental.
Q. How is the residual value calculated?
Residual value is estimated based on various factors i.e car model, city of registration, tenor, kilometers, new vehicle launches, etc. It is a system driven value which considers all these factors including historical data of used car prices.
Q. What are the lease tenure options available?
Lease tenure options are available from 1 to 3 years.
Q. What are the benefits of lease?
Lower EMI compared to a bank loan.
Customer can replace/upgrade the car at the end of tenure.
Tax benefits to Corporate & SME customer due to treatment of lease rental as an expense.
Off Balance Sheet funding
Risk Free Proposition
Hassle free service.
Q. Who pays for the services and insurance?
Services and insurance can be a part of the contract which will make it a hassle free transaction.
Q. Lease is available on which car models?
A-Class, B-Class, C-Class, E-Class, S-Class, GL-Class, ML-Class and R-Class
Q. Who can avail of leasing product?
Leasing product is available to all car buyers including individual, SME and corporate customer.
For more details on the product and it’s benefits please talk to us today or visit our showroom.