Are you planning to buy your dream car? But couldn’t buy it since it is out of your budget and you can’t afford the EMIs with your current income? Well then think again!!
Here is an opportunity to buy that dream car without even increasing you budget, infact you will pay even less for your dream car than your original budget. Too good to be true, right? EMIfreecar.com brings an innovative solution to make your dream come true.
Not only that, you can even use this scheme even if you have already purchased your car and still paying the EMIs. So this scheme works for both types :
1. New Vehicle Purchase
2. Existing Vehicle EMI payment
What is EMIFreeCar.com?
EMIFreeCar.com is a marketing/advertising firm that places an advertisement on the external body of your car and pays around 75% of your EMIs.
What do you have to do to get this scheme?
The first step is to register yourself on their database. You can do this online through their website (www.emifreecar.com) or by visiting any of their office in New Delhi or Mumbai. You have to be atleast 18years old to be eligible for this scheme. EMIfreecar.com will review your application and contact you for further steps.
What’s the catch?
- EMIfreecar.com will pay for only 3 years of your EMI when you take a loan of 5 years. (You can extend it more than 3 years but that depends on the firm’s decision)
- After completion of 3 years the vinyl ads on the body of your cars will be removed and you have to pay the rest of the EMIs for two years according to the loan you have taken.
- Another clause is that the owner (i.e. you) will have to pay 25% of the downpayment.
- You will have to drive this car for minimum 1,500kms per month. A GPS device will be fitted in your car to track this. (Be careful, this is a direct violation of your privacy)
- You are free to use this car as you want, basically it’s you own car with ads placed on the body
- The ads area will be around 60% – 70% of the car body excluding the windows
- You’ll have to pay Rs. 10,000 for GPS device and another Rs. 10,000 as a security deposit for signing the contract
- If you miss doing 1,500kms that month, you’ll have to pay the EMI for that month from your own pocket.
- If you already have a car, then it must not be more than 1year old to join this scheme
- You will have to pay for the installation and removal of the Vinyl ad sticker
So the overall picture is that, if you come out successful in this scheme, you hardly pay less than 50% of the total cost of the car. Now that’s a great deal.
But we Indians have reservations. Would you like your car to be a billboard? What would be the reaction/impression of the society towards you or your car? Wouldn’t people make fun of your car or may be even you?
A car for any modest Indian is not just a means of transport but is a matter of prestige. It is sign of prosperity. For some the car is a living member of their family. We take a great deal of pride in owning one. Would you like to compromise that?
But wait! There is other side of the coin too. What if you are buying a car for a different purpose? What if you need a car that will help you in a cause, which could be a commercial or a business related or may be you just want a means of transport and the car you buy is just for that purpose only. Then it’s definitely worth the buy. You save ample of funds which you could re-invest in other things of high priority which could be savings, your medical expenses, your insurance premiums, your school/college fees, and many other pressing issues at your hand.
We at MotorZest, would always insist of having a thorough check on this scheme details. Read all the points mentioned in the contract thoroughly. Some of your question may get answered at the FAQ page of Emifreecar.com. After all, it’s your car, your money and your decision.
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