Product offered to CTC users which provides them with an option to buy-back the car after end of lease tenure at a price fixed during signing of contract.
The resale price of the car is calculated with an increase of 5% when the contract is signed. At the end of the contract, the user will get the opportunity to purchase the car at this pre-fixed price. By increasing the resale value of the car by 5% at the beginning of the contract, the lease rentals per month will be lower.
Also, the user gets to purchase the car either at the pre-fixed price or at the actual highest market value at that time, whichever is lower.
What are the benefits?
• Lower lease rentals
• Option to buy back the car at the best buy back value
• More transparency with the user on usage and resale cost