Zoomcar is one of the most popular self-drive car rental company and until now it was renting our cars for users to drive on their own. In a new service launched last week, Zoomcar will now allow its users to lease their own cars on the platform.
The program named Zoomcar Associate Program(ZAP) lets anyone buy cars and lease to Zoomcar to add to their self-drive inventory. Any person, let’s say you and I can purchase one or more cars and lease it to Zoomcar so as to operate on the revenue-sharing model.
This is one of the modes of getting discounts on Zoomcar’s platform and earning some extra bucks. An e-mail was sent out to Zoomcar users about the new program to look out form in the coming days.
How will users benefit from this?
Anyone who buys a new car and leases it to Zoomcar will already get a share of the amount from the commuters who have hired the vehicle. It is like an investment for a decent enough period of time.
Apart from these monthly cash earnings, for the entire period of 30 month lease to Zoomcar, the car owners will also get 25% off on all their weekday bookings on the platform. The 30 month lease period has been fixed by Zoomcar.
Zoomcar has also promised loans will be provided to people who want to invest in this business, and partner banks will aid them in the process.
What could possibly go wrong here?
Zoomcar has also said that all the registration, permit and tax payment headache will be theirs which is good. However, there is one thing which has not been addressed yet.
After 30 months get over, can the cars be renewed for the program or will they be handed back to the owners? In case they are given back, the condition of leased vehicles is not upto the mark, definitely what a normal car driven by the owner looks like in two and a half year.
Not much has been said about the insurance and accidental cover policies of the cars, if the owners are responsible or Zoomcar itself is. We’re waiting for more information from Zoomcar on the same.
For owners to lease brand new vehicles to Zoomcar looks a bit sketchy right now considering not much details have been provided about the policies and revenue-sharing. However, it looks like a decent investment which would cover the cost of the car and additionally bring in extra income.
What are your thoughts about this model? Comment below!
