[drmohitg]

Sorry thumbs down. This is nothing else but something similar to the Nano fiasco. The whole concept of perceived cheapness would be taken to a new level by this scheme. I don't see anyone risking being laughed and mocked upon by friends and family by travelling in a car covered with advertisement stickers.

[phamilyman]

I would seriously consider it as a second vehicle as long as the ads are not for family-offensive stuff. From the EMI savings, get a driver to drive it around.

Then - how different is it from traveling in a taxi anyways? Like a Meru?

of course, there will be some initial ridicule from friends, but then, whose to argue with 7-9k savings per month in EMI (assuming a 6L car) - that is one lakh post tax to be paid towards the home loan for instance. If nothing else, I expect it to be a hit in a place like Gujarat unlike Delhi - where people have ingrained solid business sense and will see the monetary aspect first, rather than 'status'

[tajender]

Not at all a bad offer for someone who wants a new car and does not bother the paint to be covered with some printed vinyl. After all we have seen wierdly modded cars all around . Is there any website where further details about this scheme can be found?

[guunbuu]

Originally Posted by SedatedDrive

Someone would file a PIL in the Supreme Court against the use of advertisements on motor vehicles and how it can distract other motorists and cause an increase in accidents. It is bound to happen.

Disclaimer: I am neither for or against this scheme. Personally I don't like any stickers on my car, not even the dealers sticker.

+1.
I am sure the govt or civic agencies will come up with a new rule to not allow this on private vehicles. If they do allow, they will definitely want a cut in the advertising revenue pie. Just like putting up bill-boards on private property requires permission and fees.

[Altocumulus]

Am totally in for this for a second car. I can easily sell off my Alto and give the down payment for a Beat or Figo Diesel and use it for the daily office/run arounds etc. And the website says they will take off the stickers after they have stopped paying the EMI. So it will be for 3 years I guess.

[iSpoke]

Its same old gimmick, that earlier started (2009) in Mumbai for then new Chevy Spark. Not sure what happened later?

A discussion thread already exists, it also discusses about pros-and-cons of it, there are legal issues too. A member tanwaramit posted about the Dreamers Media, quoting his post cross-forum.

Originally Posted by tanwaramit

Got this news today on Livehindustan.com

http://www.livehindustan.com/news/de...39-346016.html

ड्रीमर्स पूरा कराएगी विज्ञापन से कार का सपना

बढती महंगाई और महंगें ईंधन की वजह से कार खरीदने का सपना पूरा नहीं कर पा रहे लोगों के लिए विज्ञापन क्षेत्र की कंपनी ड्रीमर्स मीडिया एंड एडवर्टाइजिंग प्राइवेट लिमिटेड ने ऐसी योजना शुरू करने की घोषणा की है जिसके तहत निजी कार पर विज्ञापन प्रकाशित कर ग्राहक अपने सपने को साकार कर सकेंगे।

कंपनी के मुख्य कार्यकारी अधिकारी सुनिस मोहम्मद ने बताया कि उनकी कंपनी ऐसे लोगों को कार खरीदने में मदद करेगी जो छह लाख रुपए तक की कार खरीदना चाहते हैं। इस योजना के तहत ग्राहक को कार की कीमत की 25 प्रतिशत राशि का डाउन पेमेंट करना होगा और शेष राशि पांच वर्षों में किस्तों में चुकाई जाएगी जिसमें पहले तीन वर्षों की किस्तें ड्रीमर्स मीडिया भुगतान भरेगी।

More details on the link

Roughly translated
New car
Cost of car - upto 6L
Owner to pay - 25% upfront
Rest - 5 years EMI
First 3 years EMI will be paid by the company
Mandatory to run 1500 kms per month
The company has plans to roll out with 15k cars this year. Initially in Delhi, Bengaluru & Mumbai.

__

If this becomes successful, then its good.

Note to Mod: Could be merged with existing thread.

[rock75]

Could be a racket, I would be wary of such offers which seem to good to be true! The economics just doesn't seem to work out.

[Mohitkumaar]

I tried searching for this on the forum but seemingly the word has not gained much leverage here.

A startup going by the name EMIFreecar.com has come up with a new model with ad supported car installments for 3 years.

The game is this, you get a car, make the down payment of 25% car cost. Rest 75% is turned to 5 year EMIs. You need not pay any EMI for first 3 years only the petrol and maintenance cost.

The company will put a warp around ad on the car and you must drive it around 1500 kms per month minimum.

After 3 years company removes the ad, you pay the remaining 2 years of EMI and get the car.

I tried registering on the site but the form gave a 500 error.
Will try again to find more details

EMIFreecar.com

Obviously there will be a number of caveats and many points of information are still not available to me like in whose name will the car be purchased, what if the car is totalled within 3 years etc.

<Personally though I am 100% sure this is going to be a disaster!>

[Biraj]

Originally Posted by rock75

Could be a racket, I would be wary of such offers which seem to good to be true! The economics just doesn't seem to work out.

+1. I find this similar to the ponzi schemes that get announced every now and then.

I find it suspicious for the following reasons:

• I checked their website and couldn't find any mention of the leadership/management team.
  
• The phone number mentioned is a cell phone number.
  
• All the addresses in their contact page are for suites, which to me appears as offices inside business center. Easy to shut and exit. A simple Google search reflects another company with the same address in Delhi. Maybe the owner is running different entities from the same premises.
  
• The Indian Express article is an advertorial so, it's difficult to trust the content.

I can't say with conviction that this deal is a ponzi or scam but anybody interested in trying this deal should definitely check all the details thoroughly. One has to pay the down-payment and then there is an agreement to pay the remaining EMIs. What if the company stops paying the EMIs after 1 year? Who would be responsible for the legal/financial battle with the banks? The owner or the company?

The intention of the post is not stir a debate with the people that like or endorse this concept. I won't endorse this till it stands the test of time i.e. at least 3-4 years.

[Gansan]

Originally Posted by phamilyman

Then - how different is it from traveling in a taxi anyways? Like a Meru?

It would be interesting if someone can find out how much these cabs are being paid to carry the ads! Then we can figure out if the scheme is too good to be true!

[nandab]

Originally Posted by Biraj

[*]The phone number mentioned is a cell phone number.
[*]All the addresses in their contact page are for suites, which to me appears as offices inside business center. Easy to shut and exit.

Well put - these two are reason enough. There are several purported e-retailers in US which have the same model. The items are very cheap and if you order you get a refurbished/damaged item, if at all.

One is given a cake and being paid to eat it too

[yogibear007]

Definitely a ponzi schema. On the other side, one can seriously think of buying a second car from used market and use this money to fund the EMIs. Win win for all eh

[1Maverick]

Update: Received job alerts from the site emifreecar.com.
Was very curious about the company name (which is the URL), so googled it and reached this discussion.

They are looking for mid-senior people with salaries ranging from 15-30L.

Wonder if it is dressing up the Ponzi scheme or if it's just another route to attract pliant folk via job sites.

[Grace]

Hi.
Any updates on this? Has anybody signed up?
Reason I am asking is, I plan to buy a Mahindra e2O and was wondering this scheme would help in procuring this car. This car is about 1.5 lakh higher than 6 lakhs upper limit and also happens to be the nearest to the upper limit.

Regards
Andy

[W.A.G.7]

IMO this thing looks downright hideous on your car. And is it limited to only doors? I think not. Check out this Innova I spotted yesterday. It was covered with vinyl wrap containing the advertisement of Red FM. Also covering does not mean cover the brake lights also'but the company thinks otherwise I would say it totally spoils your car and the whole contraption looks like a bad case of plastic paper stuck on your car with Fevicol. I wouldn't dare to be caught dead or alive in such a vehicle.