Has anyone explored the option of leasing brand new cars ?

nitrous · 1st February 2006, 16:30

If the trust proves transparently, how this thing is going to work bothways(car user & trust), it might show if its genuine. Since, they don't show it, its a complete fraud.

adityapd · 1st February 2006, 16:43

Quote:

Originally Posted by nitrous

If the trust proves transparently, how this thing is going to work bothways(car user & trust), it might show if its genuine. Since, they don't show it, its a complete fraud.

Anyone is welcome to the trust's office in mumbai and have meeting with their Sales manager for greater details on this, that' what they claimed on the phone.

The amount of transparency would only be revealed during a one on one meeting with this guy.

~A

adityapd · 2nd January 2007, 21:50

Well guys the latest update is that the trust has openly started advertising in Times Drive since the past couple of weeks .

Did anyone visit their office to explore more details ?

~A

devarshi84 · 2nd January 2007, 22:46

what I think here is that The company would be providing the car to them for a lesser price. so taking 8.50 as the base isnt a good idea.

By the way, does any of the dealers in India provide leasing options? Seems to be a good idea since it saves us the trouble of reselling the cars, some with bad resale.

rahul_intlad · 2nd January 2007, 23:11

Quote:

By the way, does any of the dealers in India provide leasing options?

Corolla did have the lease option but has not gone down well with the Indian customers.

theMAG · 2nd January 2007, 23:30

Enquired abt it once, then ditched when they said BMW 3-series costs 7500 bucks per day. This was a short-term hire objective (4 days).

hellspawn · 3rd January 2007, 01:10

my dad has an accord which is from lease plan india.it involves no downpayment.monthly emis.after 3 yrs you can decide to keep the car or return it.if you want to return it,you have to pay the remaining book value amount.not the market value amount.
for eg.if the accord costs 16l and say after 3 yrs the book value is 12l and the market value is 10l).you end up paying 12l + 3x12 emi's.so it obviously works out more expensive than buying a car through a loan.the good part is servicing,maintenance is all done by leaseplan.
dont know too much about this in detail so experts if you can work out some calculations and explain the members what im trying to say in numbers,it'll be great.

adityapd · 6th January 2007, 22:34

any updates on your visit to the trust's office gonecase_01 ?

your report is awaited.

~A

anupam00 · 27th January 2009, 16:28

Dear All,

Advice needed in case any one has performed a deal with City Limousines - as they say that if a person deals with us by depositing 2.5 lacs we would give him PDC monthly of 17000 rs for 5 years - that comes out to be 10.2 lacs after 5 years-this is what i have heard.
I want to know how much feasible do you all think & has anyone on the forum performed a deal with city limousines or any other similar agency.

Moderator: Kindly move it to any relevant forum in case this is not the right one, didn’t know which forum to post on!!!

Thanks alot for your help.
Thanks.

GTO · 27th January 2009, 18:32

Quote:

Originally Posted by anupam00

Dear All,

Advice needed in case any one has performed a deal with City Limousines - as they say that if a person deals with us by depositing 2.5 lacs we would give him PDC monthly of 17000 rs for 5 years - that comes out to be 10.2 lacs after 5 years-this is what i have heard.
I want to know how much feasible do you all think & has anyone on the forum performed a deal with city limousines or any other similar agency.

Moderator: Kindly move it to any relevant forum in case this is not the right one, didn’t know which forum to post on!!!

Thanks alot for your help.
Thanks.

Anupam, I have merged your thread with an existing one. Sounds like a scam if I ever saw one. Look at what the cops have to say here

BaCkSeAtDrIVeR · 27th January 2009, 19:12

Any finance from a non-bank source? 100% assured that you are NOT the owner. The owner as per law it is the financier. Even if you are registered owner. (That is why they have the rights to repossess the vehicle - the bank, OTOH, is only has a hypothecation against the vehicle, therefore cannot simply repossess it).

Some financiers insist that the finance company is the regd. owner as per the papers.

I do not see how this company / trust is any different. I cannot call them frauds on that grounds.

Ouch!!! Was replying to the earlier posts - not anupam00's post!!!

Quote:

lacs we would give him PDC monthly of 17000 rs for 5 years

I am a bit confused about the words in bold - X pays Y 2.5 lakh and y repays 17,000/- permonth for 5 years????

Edit 2:- If it is to be understood the way I have, they need a NBFC (Non-banking finance company) license from the RBI to operate. Ask the RBI - I believe an email would be of help.

devarshi84 · 28th January 2009, 02:03

Don't buy a car, lease it. It's cheaper

was just reading this. Hertz it seems is doing car leasing in India.

LeasePlan India Website

this according to the article is the largest leasing company in India so far.

GTO · 28th January 2009, 13:47

Quote:

Originally Posted by devarshi84

Don't buy a car, lease it. It's cheaper

was just reading this. Hertz it seems is doing car leasing in India.

LeasePlan India Website

this according to the article is the largest leasing company in India so far.

Devarshi : Your post is probably relevant in the leasing thread (ARTICLE: Lease OR Loan? Which EMI is better for you). This thread is discussing the con jobs who propose leasing out your car.

devarshi84 · 28th January 2009, 20:53

I thought it would help those looking to lease and trying to stay away from Scamming parties as many are looking at options. But please do the needful.

1st February 2006, 16:30	#16
nitrous Senior - BHPian Join Date: May 2004 Location: UAE/Lon/Madras Posts: 6,965 Thanked: 325 Times View My Garage	If the trust proves transparently, how this thing is going to work bothways(car user & trust), it might show if its genuine. Since, they don't show it, its a complete fraud.
	() Thanks

2nd January 2007, 21:50	#18
adityapd BHPian Join Date: Feb 2004 Location: Mumbai, Philadelphia Posts: 288 Thanked: 7 Times View My Garage	Well guys the latest update is that the trust has openly started advertising in Times Drive since the past couple of weeks . Did anyone visit their office to explore more details ? ~A
	() Thanks

2nd January 2007, 22:46	#19
devarshi84 Senior - BHPian Join Date: Jun 2005 Location: Ahmedabad - Tor Posts: 4,024 Thanked: 211 Times View My Garage	what I think here is that The company would be providing the car to them for a lesser price. so taking 8.50 as the base isnt a good idea. By the way, does any of the dealers in India provide leasing options? Seems to be a good idea since it saves us the trouble of reselling the cars, some with bad resale. Last edited by devarshi84 : 2nd January 2007 at 22:50.
	() Thanks

2nd January 2007, 23:30	#21
theMAG Distinguished - BHPian Join Date: May 2006 Location: Avon, CT Posts: 7,217 Thanked: 1,807 Times View My Garage	Enquired abt it once, then ditched when they said BMW 3-series costs 7500 bucks per day. This was a short-term hire objective (4 days).
	() Thanks

3rd January 2007, 01:10	#22
hellspawn Join Date: Jul 2005 Location: noida Posts: 1,686 Thanked: 7 Times View My Garage Infractions: 0/1 (10)	my dad has an accord which is from lease plan india.it involves no downpayment.monthly emis.after 3 yrs you can decide to keep the car or return it.if you want to return it,you have to pay the remaining book value amount.not the market value amount. for eg.if the accord costs 16l and say after 3 yrs the book value is 12l and the market value is 10l).you end up paying 12l + 3x12 emi's.so it obviously works out more expensive than buying a car through a loan.the good part is servicing,maintenance is all done by leaseplan. dont know too much about this in detail so experts if you can work out some calculations and explain the members what im trying to say in numbers,it'll be great.
	() Thanks

6th January 2007, 22:34	#23
adityapd BHPian Join Date: Feb 2004 Location: Mumbai, Philadelphia Posts: 288 Thanked: 7 Times View My Garage	any updates on your visit to the trust's office gonecase_01 ? your report is awaited. ~A
	() Thanks

27th January 2009, 16:28	#24
anupam00 BHPian Join Date: Apr 2006 Location: NOIDA Posts: 218 Thanked: 425 Times	Advice needed on City Limousines Dear All, Advice needed in case any one has performed a deal with City Limousines - as they say that if a person deals with us by depositing 2.5 lacs we would give him PDC monthly of 17000 rs for 5 years - that comes out to be 10.2 lacs after 5 years-this is what i have heard. I want to know how much feasible do you all think & has anyone on the forum performed a deal with city limousines or any other similar agency. Moderator: Kindly move it to any relevant forum in case this is not the right one, didn’t know which forum to post on!!! Thanks alot for your help. Thanks.
	() Thanks

28th January 2009, 02:03	#27
devarshi84 Senior - BHPian Join Date: Jun 2005 Location: Ahmedabad - Tor Posts: 4,024 Thanked: 211 Times View My Garage	Don't buy a car, lease it. It's cheaper was just reading this. Hertz it seems is doing car leasing in India. LeasePlan India Website this according to the article is the largest leasing company in India so far. Last edited by devarshi84 : 28th January 2009 at 02:04.
	() Thanks

28th January 2009, 20:53	#29
devarshi84 Senior - BHPian Join Date: Jun 2005 Location: Ahmedabad - Tor Posts: 4,024 Thanked: 211 Times View My Garage	I thought it would help those looking to lease and trying to stay away from Scamming parties as many are looking at options. But please do the needful.
	() Thanks