[TusharK]

Skoda has introduced EasyBuy - an assured buyback scheme for Superb customers. It can only be availed through Skoda Financial Services.



Skoda EasyBuy offers an assured introductory buyback value of 57% for a new Skoda Superb at the end of a 3-year contract term. At the end of the term, customers can choose to return the vehicle to the dealer as long as the vehicle meets the wear and tear guidelines along with the kilometer allowance.



Customers can also retain the car by paying off the outstanding amount or re-finance it for another contractual term. EasyBuy also allows customers to trade in the existing car and use the buyback value to purchase a new Skoda.

Skoda Financial Services offers 100% finance and up to 40% lower equated monthly instalments for a period of 3 years.

Link to Team-BHP News

[ajmat]

Isn't it another word for lease? Also there are no clear details about initial deposit etc.

[itwasntme]

57% buy back after 36 months (and maybe 45K km?) is pretty good for a VAG D2 vehicle. Of course, any Toyota owner starting from a Etios up would be ROTFL.

[GTO]

Originally Posted by ajmat

Isn't it another word for lease?

Bang on! But I think "EasyBuy" is a pretty cool name as "lease" is never really considered by individual buyers. 48 grand a month with no (or minimal) down-payment is tempting for a Superb.

I think the calculations are for the "corporate edition" as the Style 1.8 TSI MT starts at 25.99 lakhs. Also keep in mind that the interest rate in their car loan calculator is at about 10%. One can easily get 8 - 9% on luxury cars. And if you're shopping, don't forget the discounts .

[MileCruncher]

The lease plan sounds like 24% Simple Interest on the net amount or 10% on the 24 lakhs. I have a feeling there will be insurance and registration cost which will have to borne by the customer which in it self will be about 3.5-4L at the minimum.



I think this is targeted only at folks who like changing cars every 2-3 yrs or corporates.



In comparison, if you take 7 year loan at 9% for 24L works out to be about 39K EMI. At the end of 36 Months you'll have about 15.5L left on the loan. Given by the present market scenario the cheapest 3Yr old Superb is going for 19.5L( mid variant, original price about 28L) which is about 69.5% of original value.



Applying that logic to the 7 year loan, I think there will be enough left after paying the loan to cover for the down payment for a new car.



Folks, please correct if I have missed out on any assumption.

[mudhasir]

I have never liked these buyback options from any premium sellers. The biggest disadvantage is you are left with 0 balance at the end of 3 years tenure. You can either choose to spend the buyback amount to purchase the vehicle or return the vehicle to the company, after any adjustment transactions for usage, and return home empty handed. Instead, if I have go for a loan and decide to pre-close in 3 years to sell the car, I will be left with decent amount in hand.
Just a hypothetical situation for a loan below:

Tenure 5 years
Interest 8.50%
Finance Amount 23,99,000.00

End of 3 years - your outstanding principle is 10,91,000. A simple check on the tools will tell you that a 3 year old Superb with 45k KMs can sell at 13 lacs easily. At the minimum, you have 2 lacs in hand for a car that's under your name (not leased).

[srgntpepper]

I find the "buyback" nomenclature misleading with these schemes.
The first time I heard of it was 3/4 years back. I thought I could buy a car on EMIs, and the company would buy it back from me at the price previously agreed upon, instead of my having to look for a buyer. Needless to say was disappointed and embarrassed to find out that it was the sum of money I'd have to pay extra to keep owning it.

It's not an assured "value", its an assured cost.

This particular doesn't seem to include the registration, insurance etc costs. They will almost certainly force you to buy a from a specific insurance provider, and maybe a service plan and will place limits on the annual mileage. I doubt the maths will work out better than a conventional finance scheme, esp considering the discounts we can score after doing your own negotiations