If You Are Dreaming To Buy Your Car but Cannot Approach To The Showroom Due To EMI Problem Then This News is For You And This can Prove To be the Right Time to Buy a New Car. Dreamers Media and Advertising have launched an interesting scheme for Out Of Home (OOH) advertising. The company will pay the EMI of your car which you buy through them, in return you will have to allow them to run advertisements. We all have seen radio taxis with ads on them, which helps the taxi companies in boosting profits. So You Will Be Saving......
The seven-month old Pune-based agency has come up with the idea and is offering this service across India. It is already in talks with 25 brands for their OOH accounts. The company will pay your monthly car instalment for three years (on loan duration of five years), provided you agree to allow the advertising firm display their billboards on your car.
Your Car Can Look Like This. Well Branding will be done on 60-70 per cent of the exterior body of the car using vinyl stickers and the cost will be borne by the agency. However, at this point of time the consumer does not enjoy the luxury of choosing the brand to be displayed on his/her car. Under the agreement, the agency can change the brand endorsement on the car at any point of time with 48 hours notice to the customer. Also, in case of an accident and damage to the sticker, the cost of putting the sticker back will be borne by the agency.
Mohamed Sunis, CEO and founder, Dreamers Media and Advertising, says, "This will help a lot many people to buy their new cars. We are mostly targeting middle class people, who have difficulties in managing their budgets once they plan their new car. This will also mean an increase in the sales of cars. My estimate is around 10-15 per cent, thereby helping the government to earn more road tax."
Your car Might Look Like This. The agency will get a GPS virtual tracking system fitted to the car to ensure that it runs for at least 1,500 km every month. If a customer fails to do that, he will attract penalty, the clauses for which have not been revealed by the agency yet.
So how does it work? You decide a car you want to buy (up to a maximum of Rs. 6 lakhs) and pay 25% downpayment on the 5-year loan. The car will be brought through Dreamers who will then pay the first three years EMI on the vehicle. The remaining 2-years EMI will have to be paid by you. You are eligible if you travel a minimum of 1500 kms a month. The company will cover 40-60% of your car with advertisements and you have to keep your car clean and not tamper with the stickers or VTS (a device which tracks how many kms you have done).
The scheme is open all India and will be expanded to other parts of Asia Pacific and the Middle East. A 24×7 call centre has been put in place to ensure smooth functioning of the system. The company is betting big on higher budgets from advertisers, increasing commuting distance and decreasing penetration of newspapers and television. A turnover of Rs. 150 crores is being targeted in the first fiscal.
So How Much I will Save ? Lets Take Hyundai Eon priced at Rs 4,50,000 (on road), the customer will need to pay Rs 1,12,500 as the down payment and Rs 6,461 as EMI (bank interest assumed at 11.5 per cent) for the next 60 months for the rest of the amount. Of these 60 EMIs, Dreamers Media will pay 36 EMIs. So you Will Come Up Saving of Rs 1,82,436 on Your Car
A diesel car will be easier to live with since your minimum running has to be 1500 kms a month. The proposition is also open to the second hand cars and the existing users of cars with a different slab and structure, the details of which have not been revealed yet. Dreamers Media and Advertising has launched this scheme in Delhi for a start and will be doing announcements in Mumbai and Bengaluru. The agency has put in nearly Rs 2 crore as initial investment and is willing to invest another Rs 50 crore. In its first year, the company expects revenues of Rs 50 crore.
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