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Old 17th April 2009, 10:08   #16
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Smart decision. Please search within the forum for tips & information. Several discussions on the same.
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Old 30th September 2009, 11:27   #17
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Default Car Lease/Rental in Delhi/NCR

One of my uncles is relocating from the US to Gurgaon. Although he's taking up a full time job here, but he wants to keep the option open of going back after a year or so if he doesn't like it here.

His employer is willing to arrange for him to lease any car he wants. But he doesn't want to get into a long-term (say 3 years or so) lease agreement.

So, my questions are as follows:

1. Are there any companies which lease out cars for short durations (6 months to a year)?
2. How is renting out a car on a monthly basis different from leasing it for a longer duration? Are there any other tax or financial implications of renting a car vis-a-vis leasing it?
3. Does it make sense to buy a car outright (don't know if the employer would pay for the car) and then sell it off in case he decides to move back? The car would probably be a luxury sedan or SUV.
4. Are there any other options available in this scenario?

I did some research and came up with a few options like this one: LeasePlan Rental

Thanks in advance.

Cheers,
Vineet
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Old 30th September 2009, 18:23   #18
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Quote:
Originally Posted by vineetmanghani View Post
1. Are there any companies which lease out cars for short durations (6 months to a year)?
Sure do, but they will work out VERY expensive. Plus, considering that your uncle *may* stay back, it'd be best for him to buy a used car.

Since he is looking at the luxury segment, within 6 - 9 lakh rupees, you will find plenty of USED Accords, Camrys, Civics and Corollas. He will have a wide array of choices.

The advantage:

1. If he goes back to the States, he will probably loose only 1.0 - 1.5 lakhs on the car at the time of resale. That's like renting a luxury car for 10,000 - 15,000 rupees a month!

2. If he decides to stay back, well, he can continue driving the luxo barge he bought himself. Either of these 4 cars are good for 2.0 lakh kms.
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Old 1st October 2009, 09:29   #19
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Thanks for the reply GTO. I'll let him know of this option as well, and then he can take his call...
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Old 7th October 2009, 12:54   #20
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India is`nt the best place to lease cars, though there are better rates available from local chaps, a friend of mine had a base diesel fiesta in Delhi without driver and fuel, and it costed him 40,000 for two and a half months.
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Old 15th October 2009, 10:40   #21
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Thanks for the info Evo. Can you suggest some such local players who might give good rates?

Is it possible to lease a used car here?
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Old 16th October 2009, 00:09   #22
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Originally Posted by canonball View Post
Rather take a loan and you would still have lot cash in the pocket? I wonder which financial principles justifiy this? Even with tax benefits this is insane I wonder how companies that use these lease plans justify such high costs!!

Wow cars which cost 20 lacs OTR are coming to Rs. 42 lacs the passat which costs Rs. 24 lacs odd comes to Rs. 58 lacs are these with gass & driver?? How does this make sence
The financial principle i guess is that this company wants same returns
as such stock market offers without taking the risk of loosing money

At these quotes i would take these cars in only two situations

1) some one puts a gun on my head Lease the car or they kill you

2) The leasing company is owned by my Father in law - or brother in law
and no matter how much i loose but they have to be in profits

Other wise why pay for captiva when you get a Toureg in that price
aint it that simple

As it is tax exemption can be claimed by buying a car and taking depriciation which all of us do so no point leasing for that purpose
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Old 12th May 2010, 17:37   #23
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Exclamation Long Term Car Rental required in Mumbai.. any pointers please..

Hi
Searched the threads before posting this
Cud not find any relevant posts, hence here goes
A friend, COO of a MNC just fired his Car Rental company due to internal issues
he is looking to hire a Car Long term ( 1 - 2 years )
Cars he is looking at :
1. Mercedes C class - 2005 - 2006 model
2. BMW Series 3 or 5 - 2005 - 2006 model

Just looking for it
Fuel and Driver would be on his account, not the rental provider
Any tips on which companies in Mumbai do it
Please PM me or text me on 9594 888 888
Thanks in advance for your help guys
Ram
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Old 12th May 2010, 17:52   #24
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I have sms'd you contact details for someone who might be able to help.
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Old 12th May 2010, 17:54   #25
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Quote:
Originally Posted by iceman7 View Post
I have sms'd you contact details for someone who might be able to help.
that was quick
thanks...
Spoke to him and passed on my friends number
you been a great help buddy
ram

Last edited by pinnacle : 12th May 2010 at 18:05.
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Old 13th May 2010, 14:35   #26
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Quote:
Originally Posted by iceman7 View Post
I have sms'd you contact details for someone who might be able to help.
Hey, why don't you put up the contact details here on the thread? It would surely help other members & guests too. Knowledge ain't nothing if not shared
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Old 28th May 2010, 14:42   #27
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Quote:
Originally Posted by GTO View Post
Hey, why don't you put up the contact details here on the thread? It would surely help other members & guests too. Knowledge ain't nothing if not shared
Sure why not. I hadn't seen this thread for a long time so here they are:

Name of Company - Car Club India

They have a website too. You can get it by doing a google search for Car Club India.

Contact - Ajit John
# - +91 9820804737

You can tell him that you were referred by Himanshu.

*I have no financial or technical interests vested in this Company.
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Old 16th June 2010, 16:09   #28
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My company has at least 10 expats. Each one with separate Innova from Orix.

Admin sources tell us that company pays 40,000 per month for each Innova. I have no clue on obligation of operating expenses. The drivers are neatly dressed, decent and some speak broken english too.


I casually discussed this with one of our finance guys about such high charges, his explanation;
  1. Company doesn't want to increase its gross block.
  2. And in case, just in case, comapny decides to shut its shop, they should be able to leave without minimum hassles of selling the gross block (cars in this case).
The good thing is expats from the ranks of GM to Director get Innova. MD's ride is company owned BMW 5 series.
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