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Zoomcar Associate Program - lease a car to Zoomcar

Under the newly announced Zoomcar Associate Program (ZAP), individuals can purchase one or more vehicles and lease them to Zoomcar. The company will run the car on its platform over the standard operating period of 30 months. The revenue is shared between the car owner and Zoomcar on a monthly basis. In a nutshell, the company is looking for a way to reduce their capital expenses, and is willing to share profits to make it happen.

Zoomcar guarantees a minimum monthly payment of 3% of the ex-showroom price of the car to the owner, though they do seem confident that the monthly cash return would exceed that amount. The company will also give the car owner 25% off on all weekday Zoomcar bookings for the entire 30 month lease tenor.

At present, Zoomcar is only accepting a brand new Maruti Ritz LDI or a Maruti Swift LDI for the Zoomcar Associate Program. It is possible to avail a bank loan through the company's preferred lending partners or purchase a vehicle outright in cash. Zoomcar will handle the process of purchasing the car (including accessories, insurance, roadside assistance, etc.), registering it and getting all relevant licenses and permits, which the owner of the car will have to pay for. The company will also install a GPS tracking device, a keyless entry device and an engine immobilizer in the car and cover the cost of the devices and installation.

Coming to maintenance, Zoomcar will cover the costs of cleaning, servicing and repairing the car. The owner will have to bear the costs of replacing parts prone to wear and tear such as tyres and seat covers. Every car operating under scheme will need a comprehensive insurance policy. Fuel is to be paid for by the owner.

At the end of the lease tenure, Zoomcar will remove all the installed devices and return the car to the owner. The company will also help in re-registering the car if the owner wishes to use the car as a personal vehicle.

 
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