This is how you could get a Land Rover for as low as Rs 12 lakh, which is is lesser than what you would pay for a base Hyundai Creta. There are tons of startups with intriguing ideas, particularly in India. Automobile companies are sprouting left and right. This is the latest instance of one such case. Owning a luxury car is a lifelong dream for many. People work their entire lives to save enough money to one day own their dream car. Realising that it is something that a lot of people are not able to achieve, a startup has come up with the concept of co-ownership of luxury cars. Here are the details.
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How to Get Land Rover for Rs 12 Lakh?
This information comes from speedy.souls on Instagram. The host describes this concept in depth. There is this startup called Prorata. It is India’s first fractional car ownership platform. It offers a unique experience. The principle behind this concept is that there could be between 4 and 12 co-owners of a single car. They pay the price as per their share. The company buys the car from the dealership and gives it to each owner as per the pre-determined timeline. In this way, everyone gets to keep it for some time without having to own it completely.
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Features of Prorata
The aim of the company is to offer the luxury car as the second car to the owners. In this way, they can use their first cars for everyday commute. The second luxury car could be used for weekend getaways or occasional trips. For this, you don’t need to keep paying EMI or insurance. Every user will get to keep the vehicle for 30 days every year. After the tenure of 5 years, the car will be sold to the highest bidder and all the co-owners will get the re-sale value as per their shares. Parking, servicing and accidental cases will be handled by the company.
What We Think
While this concept looks quite genius on paper, it is still a new development. Until there are enough cases where people can share their reviews about the entire ownership experience, we would refrain from passing any judgments. Still, the idea is just excellent. Car lovers would appreciate using a luxury car without actually having to own it. Moreover, there are no headaches pertaining to insurance, servicing, etc. That is an added bonus which makes this entire deal all the more enticing. This is how you could end up getting a Land Rover for just Rs 12 lakh.
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