For all those of you who may have always wanted to own a luxury car, but had been constrained by the price, here a solution. Mercedes-Benz is now offering a unique individual lease option to customers. Under the plan, the customers can own a Mercedes car for three years, by paying just 50% of the car’s price.
The whole idea of individual lease is about the residual value of the car after depreciation in three years. The whole system works on the theory that if you buy a car today, and sell it after three years, you will get about 50% of the money back. Rest of the value of the car is consumed by usage. The customer needs to pay only that amount, and the residual value is taken care of by returning the car to the company after the lease period gets over.
Another great thing about this leasing option is that the company takes care of the service, insurance and other maintenance costs. The individual leasing the car doesn’t have to bother about that.
So if you want to own an E-class worth, say Rs 50 lakh, you now have two options. Either you pay the entire amount and get the vehicle registered in your name, or go in for the lease option by paying just Rs 25 lakh.
The Indian market with disposal incomes soaring by the day is becoming more and more aspiration-driven. Indians, traditionally known to be very wise spenders are now showing an inclination towards spending more than they could afford for status. For people who want to own a lifestyle car, but don’t have the means to buy it, the lease model is a boon.
But is the Indian market ready for such a change? Would such a model work for the small car market as well? Would you rather buy your Swift for Rs 2.5 lakh only today, give it back to company after three years and lease another car? Does the concept make sense for you? Do let us know