[sbala]

Originally Posted by GTO

The numbers sure look convincing (thanks sabby for posting!).

Let me get done with all the filings of the FY 2015-16. Then, I think I'll invest in a couple of cars at Zoomcar. Lets say 1 or 2 to start off with. If it works well, will increase. I'll pick the Swift over the Ritz as its resale will be much, much higher.

If I go ahead with it, you can expect a full thread with actual earnings, pros & cons .

GTO, - Looks like it didn't workout for you (or most of us), right?? We didnt hear you on this for quite sometime.

Is there any bhpian gone with this? Just curious to hear real world comments instead of just calculations.

[GTO]

Originally Posted by sbala

GTO, - Looks like it didn't workout for you (or most of us), right?? We didnt hear you on this for quite sometime.

My trustworthy CA ran some numbers and said it's simply not worth it; there are more interesting avenues to invest money. That was enough for me.

[SmartCat]

Originally Posted by GTO

My trustworthy CA ran some numbers and said it's simply not worth it; there are more interesting avenues to invest money. That was enough for me.

Share those numbers or the logic behind your CA's advice, if possible.

My logic behind not going for this 'investment' is -

1) Startups like Zoomcar generally don't have debt on their books. As soon as they see the bank balance going down, they'll call up their trusted investment banker.

2) If RoI is anywhere close to 20%, Zoomcar might as well take loans from banks and fund their car purchases themselves. Why give away a lucrative part of the business to others? It has a short turnaround time too (18 months) to sell the car (and hence close the loan liability)

3) Since Zoomcar is not doing this themselves (that is, buying cars), actual RoI could be quite low - maybe something like 6 to 10%.

[jkrishnakj]

Friends - a quick query, on a similar note, but this aint Zoom.

Has anyone come across " Stallion Incorporation" at Bangalore ? I was told there was a big advt they placed in the ToI. I also got an email from them about their interest to take our self owned cars on their lease and pay monthly rentals. Quite a tempting offer , but was wondering if any one came across them and have any experience to share.

Example rentals are - Tata Indica - 14000 per month, Honda Brio - 14K per months, Innova - 26 K per month etc.. I have asked for more details in reply to their mail and am awaiting the same.

[DriveOnceMore]

I'm thinking of opting for a used car, (which they've confirmed that it's acceptable), probably Hyundai Grand i10 and leasing it to them.
I forsee a total investment of 5.7 lakhs upfront.
If I take personal loan of full amount for 2.5 years, the EMI calculates out to be around 21.5 k.
My thought behind this is, I'm okay even if I only get money equal to EMIs and thus get a car free at the end of the period of contract.
Which also means, I will get an asset worth 1-5 - 2 lakh, at least.

Sounds logical?

[sagarpadaki]

Originally Posted by DriveOnceMore

I'm thinking of opting for a used car, (which they've confirmed that it's acceptable), probably Hyundai Grand i10 and leasing it to them.
I forsee a total investment of 5.7 lakhs upfront.
If I take personal loan of full amount for 2.5 years, the EMI calculates out to be around 21.5 k.
My thought behind this is, I'm okay even if I only get money equal to EMIs and thus get a car free at the end of the period of contract.
Which also means, I will get an asset worth 1-5 - 2 lakh, at least.

Sounds logical?

Sounds logical but not feasible.

At the end of 2.5 years you will get back the car in a abused state with most components worn out and interior condition like a rag. Even if you consider that you would be getting the car for free, be prepared to spend around 50k-100k on repairs depending on the condition of the car after 2.5 years

[DriveOnceMore]

Originally Posted by sagarpadaki

Sounds logical but not feasible.

At the end of 2.5 years you will get back the car in a abused state with most components worn out and interior condition like a rag. Even if you consider that you would be getting the car for free, be prepared to spend around 50k-100k on repairs depending on the condition of the car after 2.5 years

Even if I get the car in poor condition, I still can expect 1.5 lakhs if I take it out for selling it off. Can't I?

Setting 1.5 lakhs aside in 2.5 years, doesn't it sound reasonably good?

[mustang_shelby]

Originally Posted by DriveOnceMore

Even if I get the car in poor condition, I still can expect 1.5 lakhs if I take it out for selling it off. Can't I?

Setting 1.5 lakhs aside in 2.5 years, doesn't it sound reasonably good?

Please also expect high mileage on the car in 2.5 yrs. I have seen 1.5 yr old cars (Zoom, Myles) touching 80,000 kms. After 2.5 yrs (and the car was used to begin with) of usage, there might be very little life left in major components of the car considering the abuse fleet cars go through.

For a car in poor condition, you will find it hard to get buyers. Or you might get extremely low offers. Some repairs will be needed for sure.

[DriveOnceMore]

I think I'm finally putting my decision of going with ZAP on backtrack.
Had a visit to their Pune office.
Very unprofessional staff and very average setup.
The first sentence their manager uttered was 'We don't recommend this as an investment option'
And further instead he convincing me, I had to convince him why I want to be Zoom Associate.
Anyways.
Better to stay away .

Will be exploring Myles Angels program from CarzOnRent soon

[chandras]

Anyone invested in Myles Angels / ZAP of late? I'm looking to invest and thought would take some advise from someone who've done that before.

[dailydriver]

Got this mail from Zoomcar today.

Dear Zoomer,

We are overwhelmed by the response we have been getting for ZAP. While we started ZAP predominantly to help car buyers save massively on EMIs, we also got several enquiries about listing existing cars on ZAP. Today we have sweet news for you. Now you can list your existing car on ZAP and save upto 70% on the car’s EMIs!

You can also refer your friends who would be interested in listing their existing cars on ZAP. By referring your friends, you can earn Rs.2000 for each car listed on ZAP! Your friend gets Rs.15000 as a joining bonus.

Invite your friends now. Your referral code is...

[SmartCat]

I'm seeing lots of ZAP ad runs on Youtube -

https://www.youtube.com/watch?v=bCIT6yOuZNs

[ashishy]

If you're wondering how many kms zoomcars run on an average, I've got the data. They are discarding all their cars to acquire and replace with new ones

[blackwasp]

Originally Posted by DriveOnceMore

The first sentence their manager uttered was 'We don't recommend this as an investment option'

This is correct. I went to one of their meetings and they too said the same. We are thinking of this as an investment Platform, where as it is just a way to reduce our costs. For someone using a car for office commute, he can list the car on zoomcar on weekends and public holidays to reduce the emi. But I'm sure running the car 100% on zoom car will barely break even your investment.


I too was interested, but I wanted an option to run the car in uber as well, but since car will be registered under zoomcar's name we can't do this. Hence I saved my money and got a yellow board WagonR. When I don't have a driver for Uber, I use it for my daily commute ( I have a TR licence). That way I get a cheap car (CNG) for use + when I have a driver it runs in uber earning me decent income.

[vinit.merchant]

Originally Posted by ashishy

If you're wondering how many kms zoomcars run on an average, I've got the data. They are discarding all their cars to acquire and replace with new ones

Safe to assume that as per their newer policies, they discard the vehicle as soon as it nears the 1L mark?
That is a wise decision, considering a 1L on a self drive rental would be more like double that in real car condition terms.