Don’t Pay EMIs on Your Car; Paste Ads on It

[nitin_k]

Soon, you may be able to drive home a small car of your choice paying only 25% of the cost of the car as down payment, with no equated monthly installments for 3 years. All you have to do is allow your car to be used as a mobile billboard for displaying advertisments while you're on the road.


Pune-based media and advertising firm Dreamers media and advertising has launched this scheme. They will pay the installments for your car for the first 3 years on a 5-year term loan, and generate revenues by selling 40-60% of the body shell of the vehicle to display ads.

The scheme is restricted to small cars with on-road cost not exceeding R6 lakh. After 3 years, the vinyl sticker advertisements would be removed, and the customer would have to pay the remaining 2 years’ installments.

The other rider is that in order to ensure that advertisers get the maximum bang for their buck, a car procured under the scheme needs to be driven at least 1,500 kilometres per month, or 50 kilometers a day.

“This is a path breaking innovation in advertising and a win-win for everybody involved,” said Sunis Mohamed, CEO, Dreamers Media and Advertising.

“While it will increase the affordability of the car as the owner need not worry about EMIs for 3 years, the advertisers also get visibility on the road to a much wider target audience.”

To be rolled out in Delhi by September and expanded to all major cities and tier-II towns by the end of the year, the company expects that 15,000 cars would be sold under this scheme this year and swell to 1 lakh the next.

“This will allow a common man to translate his inspiration of buying a car into reality,” Mohamed said. “We are basically looking at the middle income group with annual income less than R10 lakh. Anybody who earns a lakh or more in a month may not be interested in this and we are not targeting them.”

Mohamed also clarified that the car owner would not be liable to pay advertisement tax, as that is applicable to commercial vehicles only.

The scheme will extend also to used cars as well as to customers who have existing loans on their cars or want to leverage their vehicles for extra income.

The company is in talks with various car manufacturers, advertisers, banks and insurance companies and hopes to launch the scheme with 500-750 cars in Delhi by September.

It is targeting revenues of Rs. 150 crore in the first year.

Don

 

[swift&furious]

Re: Don’t Pay EMIs on Your Car; Paste Ads on It

Its really good, say you can use it as your second car, going by the info you provided, the stats would go as follows :

We pay a down payment of 1.5Lakhs (i:e) 25% of 6 Lakhs

The remaining 4.5L is eligible for loan and say if the interest p.a is 11% then we would end up paying 4.95L for the car over 5 years

Interestingly as the advertiser pays for 3 years he pays 2.99L for 3 years and we pay the remaining 1.99L for the balance 2 years so it means you totally pay 3.49L for a 6 L worth car which is more than a win to win deal

Hope they launch this soon as there would be more takers for this and especially more yellow board fellas

 

[alexddas]

Re: Don’t Pay EMIs on Your Car; Paste Ads on It

Everything looks good but just imagine an advt on an European closet on your car which covers 60% of your car body.

 

[swift&furious]

Re: Don’t Pay EMIs on Your Car; Paste Ads on It

Everything looks good but just imagine an or an European closet on your car which covers 60% of your car body.

I am sure they are not going to put you in a situation as they would still have to make business and moreover they would treat you like a customer and pay for you for three years

Most likely their foremost rule would be to not embarrass the customer/advertiser with an over flashy or obscene add

 

[Fyzy09]

Woah.. So much for the sake of advertisements..

 

[anshuman8]

Re: Don’t Pay EMIs on Your Car; Paste Ads on It

Scheme is good economically, but end of day I dont want my car to look or to drive a taxi.

 

[shailinder]

Excellent idea of marketing. I am sure there would be more takers initially and might change their mind at the later stage.

I would like to go for such a scheme provided I have the advertisement not putting me under embarrassing mode (as stated above and clarified.)

After all we all want others to see our car. I am sure, people will definitely look at your car and you as well. Few might laugh and some might curse them for not opting for it..

Either ways, it would be really interesting. Let us wait and watch how things are taking shape....

 

[Robin79in]

Marketing Concept is not bad. Media Marketing Company wants that the add material should be put down in front of general public. They can use such vehicle as paid hording sites & absolutely this is a path breaking innovation in advertising and a win-win for everybody involved.

Concept will be long run in India because Indian Public wants to keep what they've got free of cost.

 

[vijay]

Had heard something similar from GM India on their spark with following the same kind of advertising scheme on your car for some period of time.Dont remember exactly what scheme was but similar to this one.

 

[pras]

Hi Vijay,

Even i have heard about the same scheme on Spark and it was 2 - 3 yrs ago and it was also from Mumbai or Pune not sure of the place

It was a failure and there were lot of police complaints by the people who got that spark.

The scheme was like they will pay you the EMI amount on a monthly basis if the car is driven for the specified KMS monthly. I remember this cause i had called them and enquired abt this and after a week there were complaints that this was a ponzi scheme.

 

[jarpickle]

Have you seen cabs that have the ads pasted on their entire body, your call will look like that.It is ok for transport vehicles not for private owned cars.Unless you really do not mind the attention.

Do you have an option to select the kind of ads?You do not want contraceptive ads pasted 40-60% over your family car.

 

[tvv_raghav]

While many would like to benefit economically from this concept, I feel, there may not a signicant population buying this idea only for the reason that everyone on the road would be looking at the car.

Hope this is not another ponzi scheme. Let us wait and watch

 

[vijay]

There is always * added to these schemes where after getting into such things like finalising the deals and all you get to know about the pros and cons about such things.
There is always a catch and how much does this scheme works, lets wait and watch.

 

[anshuman8]

These guys have launched a website now if any one is interested. You can do it for your existing car also.

:: First Time for The World... - EMI Free Car Pvt. Ltd. -Its now easy to own a CAR-Turn your car into billboard, let advertiser share EMI cost. | Car Advertisements | Car Advertisement in India ::

 

[draneeshpm]

Re: Don’t Pay EMIs on Your Car; Paste Ads on It

One has to travel 1500 Kim's every month,so it has to be a diesel and it's not easy to rake up 1500 Kim's every month for most of the owners.Wonder if they will accept taxi cars [thinking]?