VMPL
New Delhi [India], July 18: Rentkar plans to deploy 1,000 electric scooters in the market and advocates because one should switch to their zero-commitment, easy-service, and competitive EMI rental models for everyday use.
Rentkar has launched electric vehicles starting at just Rs3,990 per month with zero commitments. They recently posted on Instagram and received over 25 bookings within 2 hours. Encouraged by this response, they are partnering with NBFCs and operating leases to deploy their first 1,000 two-wheelers, offering customers a new usage paradigm.
"This market support validates the movement against overconsumption and the shift towards a sharing economy," says Tanuj Agarwal, Co-founder of Rentkar.
Every product encounter downtime, but with them, you can exchange a product within 2 hours avoiding months-long service delays.
As founders, we are networking and scaling Rentkar to serve over 1,000 two-wheelers in the market through asset-light rentals. In a recent meeting with an EV expert from a renowned two-wheeler NBFC, he highlighted some key points:
"You may have purchased a scooter, and your delivery is still due, yet here comes your first EMI. That month's EMI is useless without any use of the product. You may experience downtime, and your scooter at the service center may take up to a month to get back to you." We can close this gap with Rentkar
When you experience a technical snag, just bring your scooter to them and drive away with a replacement in 2 hours. This not only bridges the gap but also provides users with a superior experience. It's flexible--no long-term commitment is necessary. When we buy a product, we often don't account for downtime, but Rentkar changes that by ensuring you always have a working vehicle when you need it.
Why Rohan Joshi rented an OLA SX+ instead of buying it?
"Rohan Joshi says, 'I was spending 10-12k every month on autos, cabs, and more. I considered getting a scooter under 1 lakh, but the service, infrastructure, and warranty made me doubtful if it was the right decision. I visited EV stores around 20 times in the last 6 months and spent an extra 10k on that. Then I found out about Rentkar. Seeing this opportunity, I changed my mind and switched to a no-commitment model by renting a scooter, which got delivered in 2 hours.'"
Choose flexibility, don't commit
The EV market is largely untested, and many companies have made false promises, offering 7-8 years of warranty without guaranteeing timely service. Rentkar changes this dynamic entirely. With them, you're not committed to owning the product. You can enjoy flexibility and simply return the scooter when you no longer need it, without being tied to an EMI tenure. This approach ensures you have a reliable and convenient transportation solution without the long-term commitment, or uncertainties associated with traditional ownership.
Electronics, Gadgets, Electric scooters are highly depreciating asset
Imagine you invest 1 lakh on a phone that depreciates by 60% a year. That's 40,000 of your money lost out of the initial 1 lakh. Instead of buying that phone, you could invest that money in Apple stock, leveraging your capital for potential growth rather than losing value on a depreciating asset.
Renting is for the Rich, Make it free
Renting isn't just for the middle class; it's for the affluent as well. In the US, the vehicle leasing market is huge. Wealthy individuals often invest their principal to buy a 15-20 lakh INR car in AIF funds, and use the interest gained to pay for car rentals. This way, they almost get a vehicle for free while staying asset-light, enjoying regular upgrades, easy service, and no commitments.
The wealthy value hassle-free decisions, appreciating benefits like zero commitment, no deposits, faster service, and quick delivery. They experience products without the need to accumulate them. They has even attracted celebrities in Mumbai, with a Bollywood star investing in and sharing their products through Rentkar.
India is shifting towards an investment economy. From kids as young as 12 to adults, everyone is looking to invest their capital or pocket money. Renting offers an asset-light model, allowing them to invest their principal in alternative options and use the interest to cover rental costs. This approach provides financial flexibility and maximizes the value of their investments.
A fight against Consumerism
India is thinking differently, and so are we at Rentkar. In our first year of business, founders Tanuj Agarwal, Mudit Golecha, and Aditya Kudale personally delivered products to over 1,000 customers. Through these interactions, we noticed that everyone has something underutilized they could rent out, such as GoPros, laptops, cameras, and more.
The world is changing, and it's time to fight against overconsumption. By adopting a rental model, we can be smarter about our resources. The youth today prefer investing in experiences rather than spending on expensive gadgets with minimal usage. We suggest you own only what you truly need, saving your capital and avoiding long-term commitments. Let's move away from consumerism and embrace a more sustainable, flexible way of living.
Overall, renting EVs in India presents a compelling alternative to ownership, offering financial savings, convenience, and environmental benefits in a rapidly evolving automotive landscape.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
