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Old 23rd September 2017, 12:05   #76
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Default re: Zoomcar's ZAP Car Leasing Programs

I got an offer from Just ride / driveezy. Their offer looks good on paper. I would like advise regarding this as an investment option to earn extra money. Attaching the excel sheet for reference. they promise the instalment amount as min guarantee. Thinking about exploring this option any advice would be helpfull.
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Old 23rd September 2017, 12:34   #77
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Default re: Zoomcar's ZAP Car Leasing Programs

Quote:
Originally Posted by architkarpe View Post
I got an offer from Just ride / driveezy. Their offer looks good on paper. I would like advise regarding this as an investment option to earn extra money. Attaching the excel sheet for reference. They promise the instalment amount as min guarantee. Thinking about exploring this option any advice would be helpfull.
I would suggest to get more information about the worst case scenario rather than best case. I gave up on the ZAP because of the very low guarantee.

The Excel you shared assumes mileage of the car as 17 km/l! I would suggest you to check the other figures as well. I have modified it a bit accounting for the correct fuel prices and a bit low booking scenario. Also I'm assuming the car will be registered as a tourist vehicle, in which case yearly tax is Rs. 10,000 (I pay 10k per car per renewal including agent fees).

In the last per month expense, I'm guessing that Just Ride pays you the car EMI + 4,000 + any earning. EMI will goto bank, so you end up with earning + 4,000 i.e appox Rs. 7,600 a month.

You must also account for maintenance charges, tyre expenses, misc charges like painting/denting etc. My WagonR CNG maintenance costs around Rs 0.5 per km run.

You are better off investing that amount elsewhere. Currently, incase of cars, the best investment would be to get a contract with a 5-star hotel, or a good company for minimum of 3 years on cars like Innova. The headache associated with it is simply not worth it. Unless you get an RoI of 15-20% per year, it is simply not worth it.

While I'm earning ok from my car in Uber, the car is running in 2 shifts for 6 days a week. I also use that car for family chores - going to office, airport drops for dad, etc which make the investment convenient for us. Its like having a car on call that pays for itself. Incase of Just Ride / Zoomcar, they are charging a lot of fees for just listing the car on their platform, you can get better rate of returns on other investments like mutual funds, etc.
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Old 6th April 2018, 08:05   #78
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Default re: Zoomcar's ZAP Car Leasing Programs

Zoomcars has come up with a new Zoomcar Associate Program (ZAP) called ZAP Subscribe. Under this new scheme, the car would be owned by Zoomcars. The Associate has to provide just the parking space, facilitate bookings and also pay only the subscription fee. Zoomcar provides brand new cars under this scheme. You can subscribe a car for 6, 12 or 24 months depending on your need.

For Example, a Ford Figo 1.5 Trend variant would cost 19,999 + GST(12%) per month. There is absolutely no downpayment or finance charge except a nominal 2,100 rupees booking fee.

The insurance and service cost is also borne by the company.

They also provide a minimum guarantee of Rs. 10000 if the car is listed for atleast 20 days in a month including all weekends.

The Associate also gets to earn 75% of the revenue generated from each booking.

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What are your thoughts on this? Will this be a cost effective model for folks who don't need a car all thru' the month?

For more details: https://www.zoomcar.com/zap/subscribe

Last edited by Warwithwheels : 6th April 2018 at 08:09.
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Old 7th April 2018, 12:58   #79
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Default re: Zoomcar's ZAP Car Leasing Programs

ZAP has mostly negative reviews on facebook and on this quora article: https://www.quora.com/What-is-your-r...ociate-Program

So, I think they are yet to figure out how to run this program with respect to things as small as customer service. Till they do, it is a huge risk to invest any money on ZAP. It seems more a liability to me.

One alternative for monthly subscriptions is Revv Switch, anyone here experience it yet?

Last edited by ashishy : 7th April 2018 at 13:02.
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