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Hyundai Subscription Plan Review to Own New Car Creta, Santro, I20, Verna, Grand i10

Hyundai Subscription Plan Review to Own New Car Creta, Santro, I20, Verna, Grand i10

Hyundai India introduces Subscription Based Rental Services in Partnership with Revv to own Brand New Car like Santro, Grand i10, Elite I20, Verna, Creta from 1 Year to 4 Year

 

Hyundai Subscription Plan to Own New Car

Hyundai India launched Subscription based Rental service in Partnership with Revv to own a Brand New Car for Short Term Period from 1 Year to 4 Year

 

The Key Highlight of this Subscription based Model is

> Zero Down Payment

> Zero Road Tax and Zero Registration Charges

> Road Side Assistance from Hyundai Included

> No Scheduled Service Maintenance Charges to be paid. Yes - Suspension, Battery, Alignment, Balancing, Consumables and Running repairs are covered in it

> Number Plate would be Black with Yellow (Self Driven. Like in Delhi DL1N Series reserved for self registered number plate)

> Flexibility to own a Car for Short Term from 1 Year to as high as 4 Year

> Lock in Contract of 1 Year and post that consumer can return car for Penalty of Rs 20,000

> Replace the car with Alternate Car after 1 Year (on wish and availability)

 

What the Owner required to Pay: Its like Rental Service

> Monthly Rental for the Subscription basis Car Model and Tenor for which car is rented. Additional GST

> At Time of Renting Car: 1st Year Comprehensive Insurance and 1 Month Advance Rental

> ECS Debit Mandate form to be signed along with Cancelled Cheque

> Any Unscheduled repair - Repair of Puncture Tyre / Tyre Damage (unless covered in Manufacturer Warranty) / Consequential damage (driving in flooded condition, heavy rain with water level high, oil leakage and driving car etc)

> Annual PUC (Pollution Check) Charges if to own Car for more than 1 Year

 

Owner Liability in case of Accident / Damage to Car

> As the car covered under Comprehensive Insurance. The Maximum Owner Liability would be Rs 10,000 along with Compulsory Deduction (Rs 1000 for Cars with Engine < 1.5 Litre and Rs 2000 for bigger Engine Cars)

> Any Damage to car in violation of Traffic Rules / Alcohol / Consequential Damage or any other condition which was done intentionally or handing over car to someone who is not license holder then the maximum liability clause would not be applicable

 

Hyundai Subscription Plan Rental Pricing

Now the most Important Part - Pricing. Below is Indicative sheet of Rental required to be paid in 1st Year

Hyundai Car 1st Year Subsequent Year 1st Year Rental Payment with GST Insurance (1st Year) Total Payment in 1st Year
Santro Sportz Manual Rs 18,090 Rs 14,090 Rs 2.43 Lakh Rs 18K Rs 2.61 Lakh
Santro Magna AMT Rs 21,190 Rs 14,790 Rs 2.85 Lakh Rs 20K Rs 3.05 Lakh
           
           
Hyundai Grand i10 Magna Rs 18,800 Rs 14,000 Rs 2.52 Lakh Rs 20K Rs 2.72 Lakh
Grand i10 Sportz Manual Rs 21,190 Rs 14,790 Rs 2.85 Lakh Rs 21K Rs 3.06 Lakh
Grand i10 Magna Automatic Rs 24,290 Rs 15,490 Rs 3.26 Lakh Rs 24K Rs 3.5 Lakh
           
Elite I20 Sportz Petrol Rs 22,690 Rs 16,690 Rs 3.05 Lakh Rs 23K Rs 3.28 Lakh
I20 Asta Diesel Rs 27,690 Rs 20,090 Rs 3.72 Lakh Rs 27K Rs 3.99 Lakh
           
Hyundai Verna 1.4 Ex Petrol Rs 30,190 Rs 20,590 Rs 4.05 Lakh Rs 30K Rs 4.35 Lakh
Hyundai Verna 1.6 Sx Petrol Rs 33,290 Rs 21,690 Rs 4.47 Lakh Rs 34K Rs 4.81 Lakh
Hyundai Verna 1.6 Ex Diesel Rs 30,990 Rs 22,990 Rs 4.16 Lakh Rs 33K Rs 4.49 Lakh
           
Hyundai Creta 1.4 E Plus Rs 29,790 Rs 24,590 Rs 4 Lakh Rs 30K Rs 4.3 Lakh
Hyundai Creta Sx Petrol Rs 45,890 Rs 27,890 Rs 6.16 Lakh Rs 45K Rs 6.61 Lakh
Hyundai Creta Sx Automatic Rs 55,190 Rs 31,190 Rs 7.41 Lakh Rs 50K Rs 7.91 Lakh

Estimated Prices

 

Is Hyundai Subscription Worth

Well - this can be good for those who just want to Own Brand New Car for 1 or 2 Year. It gives them flexibility of Zero Dow-Payment and look for owning a car for short tenor without hassles of Maintenance, Selling Car. But the Outflow is relative Higher, any Person taking car on Rent almost end up Paying

» 40% of Car Price as Rental for 1st Year including Insurance and GST 

» 25% to 30% of Car Price as Rental for 2nd Year including Insurance and GST

Thus the Ownership Cost almost makes it 65% of Car Price in First 2 Years making it an expensive Value Proposition.

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Important: If you seek advise or recommendation, pls raise query in Car Forum instead of posting in comments

 

Comments 2

Guest - santosh on Saturday, 23 March 2019 19:28

You dont need to pay any amount unless you see the car as you have already paid 5k as advance.

You dont need to pay any amount unless you see the car as you have already paid 5k as advance.
Guest - Jatin on Tuesday, 19 March 2019 08:54

I paid Rs 5k for new santro cng magna. It is 2018 stock and I got a decent discount on it. My dealer is now asking me to pay Rs 50k before showing me the car.

They said that car has to be purchased by them from another dealership. Therefore, they have to make sure that customer WILL buy the car as it is 2018 stock and will be hassle to sell later on if I decline the purchase.

But, this has raised a doubt in my mind regarding car's condition. I told him that I will not pay anymore without doing pdi.

Please guide. Thanks.

I paid Rs 5k for new santro cng magna. It is 2018 stock and I got a decent discount on it. My dealer is now asking me to pay Rs 50k before showing me the car. They said that car has to be purchased by them from another dealership. Therefore, they have to make sure that customer WILL buy the car as it is 2018 stock and will be hassle to sell later on if I decline the purchase. But, this has raised a doubt in my mind regarding car's condition. I told him that I will not pay anymore without doing pdi. Please guide. Thanks.
Guest
Friday, 06 December 2019

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