What is an electric vehicle lease?
Financing a vehicle is a challenging task to be done. It involves a lot of thought, work, and, most importantly, a massive hole in your pocket. While governments and institutions are spreading awareness among the people to increase their interest in electric vehicles, the realistic approach is quite different. The cost that needs to be undertaken by an individual to afford an e-vehicle is much more than that of a standard car. In such cases, a lack of incentive for the buyers can even induce them to not care about the environment and just focus on buying an affordable vehicle.
Even though the plan to save the environment from carbon emissions is on, only e-vehicles can bring about the necessary change. With the strategic lease contract, the buyers and the sellers are kept at an advantage while undertaking the environmental concern.
Car leasing is more like renting a car but with more benefits than you can imagine. In a typical lease program, the leasing company provides an e-vehicle to the buyer in return for a monthly payment called the lease amount. This amount covers all the other charges, such as repairs and insurance. The buyer can keep the vehicle for the decided period and renew the lease after it expires if they are further interested.
What is the advantage of moving to an e-vehicle lease?
Switching to an electric car from a traditional mode of transportation is beneficial for the environment and your finances.
The first and foremost factor is the savings for buying a car that can be used for a greater purpose. In the long term, no one wants to exhaust their savings in the EMIs and the loans taken to finance a car of their choice.
Secondly, the amount that can be saved on fuel costs in the long run. The prices of fuel are skyrocketing these days. Electric vehicles don’t involve any fuel recharge and need to be charged for a perfect drive without any hassle of finding a petrol station whenever you have gone on a long journey.
A wide availability of modern-looking, feature-oriented, and classy e-vehicle options. No need to rely on those old car models. Drive with class and safety. Electric vehicles are safer than regular vehicles. The technology and safety equipment that is used in modern-day electric cars is superior to that of the traditional suspension systems.
Because we are an environment enthusiast with a mission to make people switch from regular vehicles to e-vehicles, you get benefits more than just a car. A package that includes home chargers, servicing, maintenance, and repairs for tires and other parts is what you get. For more information, log on to our website and curate your contract now!
The lease contract either requires little or no down payment for the customer to indulge in. They usually are progressive in avoiding the hassle of registering for insurance, road tax, or car maintenance. This kind of cost-saving model encourages more drivers in today’s times to switch to electric vehicles.
Electric vehicles are quieter than your average engine-revving vehicles. If you live in a metropolitan city, you might already know the living conditions there. From busting noises that can make your head hurt to the smog that is always present in the air, pollution is inevitable. Leasing electric vehicles can be a step towards a better living environment in these cities. With the growing concern for AQI and noise levels, e-vehicles are long-run investments.
Opportunities for e-vehicle leasing in India
An e-vehicle lease is not your typical lease contract. It involves an option of several vehicles other than just cars. Fleet management becoming more famous nowadays is also an example of e-leasing. Online platforms like Zepto, BlinkIt, Zomato, and various other online service delivery agencies are now relying on vehicle leasing options to make their delivery services easy, quick, and efficient with the minimum costs. This is how the electric vehicle leasing business expands its base in India. A practical and informed decision of such agencies to get involved with a term contract like this is the need of the hour.
Asset management companies and mobility service providers have expanded the market for e-vehicle leasing in India in the past few years. Even government agencies are incentivizing the use of electric vehicles over other ones. The lease contracts are more lucrative and beneficial, with a low GST of 5% and a high depreciation rate of 40%. Electric vehicles are optional to be registered, and hence a lot of hassle is taken away in the first place. If the existing dynamics and progressions are continued, the market is set to reach an anticipated amount of 250,000 lease contracts by 2030. Since most ride-sharing and car-pooling services rely on the lease contract for their expansions, you can easily see that most such amenities have been leased recently.
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