• Custom Free
     

    Custom quote

  • Revv OPEN Car Lease

    Loading your search...
  • Apply for a Revv Open car lease through BankBazaar for EMIs as low as Rs.9,100. You can get either a brand-new car or an unboxed car for flexible tenures between 1 year and 4 years. No processing fee is charged.
    More
    We found 1 Revv OPEN Car Lease
    Bank Name
    Interest Rate Range/Lease rental range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9.8K - 58.6K LEASE RENTAL RANGE/MTH
    No Processing fee
    - Flexi-Lease offer
    1-4 Years
    Car Lease
    What you'll love
    Documents
    Perks
    Think about
    Fees and Penalties
    Eligibility Criteria

    About Revv OPEN

    Revv is a car rental company that offers self-drive and car leasing services. The company has a facility known as ‘OPEN’ that helps you get a new automobile in a brand-new way. The maximum tenure offered for new cars is 4 years.

    Revv OPEN, which is crafted by Revv, enables one to have a new car without actually purchasing or owning one. You will not be required to make any down payment or pay any road tax. Moreover, the car that you select will be ordered just for you. You can either book a new car of your liking or book an unboxed car available with Revv at the moment.

    Cars Available for Lease by Revv OPEN

    Given below is a detailed list of the car models you can get on lease by Revv OPEN through BankBazaar:

    Car brand Car model
    Hyundai
    • Creta
    • Elantra
    • Santro
    • Tucson
    • Elite i20
    • Verna
    • Xcent
    • Grand i10
    Maruti
    • Alto 800
    • Alto K10
    • Swift
    • Swift Dzire
    • Celerio
    • Wagon R
    • Ertiga
    • Baleno
    • Vitara Brezza
    • Ciaz
    Ford
    • EcoSport
    Mahindra
    • Scorpio
    • Marazzo
    • XUV500
    Honda
    • Amaze
    • City
    Nissan
    • Micra
    • Terrano
    • Sunny
    Tata
    • Tiago
    Toyota
    • Innova Crysta

    List of Cities where you can Lease Revv Cars

    Here is a list of cities where you can find Revv OPEN cars in India:

    • Bengaluru
    • Delhi – NCR
    • Chennai
    • Jaipur
    • Hyderabad
    • Mumbai
    • Pune
    • Mysore
    • Coimbatore
    • Mangalore
    • Kolkata
    • Ahmedabad
    • Surat
    • Vijayawada
    • Vizag
    • Chandigarh
    • Kochi
    • Trivandrum
    • Tirupati

    Revv Car OPEN Monthly Rental

    Revv offers car lease through BankBazaar in 19 cities that can be paid for monthly over tenures of 12 or 48 months (1 or 4 years). The monthly payment for 12 months ranges from Rs. 10,600 for a Maruti car to Rs. 58,600 for a Hyundai. The monthly payments for 48 months start from Rs. 9,100 for a Maruti and go up to Rs. 51,400 for a Hyundai.

    Car Brands Monthly Payment for 12 Month Monthly Payments for 48 Months
    Ford Rs. 27,300 – Rs. 29,000 Rs. 21,000 – Rs. 23,000
    Honda Rs. 18,800 – Rs. 28,600 Rs. 15,200 – Rs. 23,800
    Hyundai Rs. 13,700 – Rs. 58,600 Rs. 11900 – Rs. 51,400
    Mahindra Rs. 28,200 – Rs. 36,800 Rs. 24,300 – Rs. 31,700
    Maruti Rs. 10,600 – Rs. 29,100 Rs. 9,100 – Rs. 23,700
    Nissan Rs. 20,700 – Rs. 35,100 Rs. 17,700 – Rs. 27,000
    Tata Rs. 16,000 – Rs. 17,300 Rs. 12,700 – Rs. 14,000
    Toyota Rs. 38,400 – Rs. 44,300 Rs. 32,700 – Rs. 35,900

    *These prices are representative. Actual prices may differ depending on the car and the tenure of the lease agreement and other factors. Please check the latest prices before applying.

    How it Works

    Revv OPEN offers an array of cars that you can avail on lease. Here is how the leasing process works:

    • Select a car: You will have to first pick a car of your choice offered by Revv. You can choose either a brand-new car or a previously used car.
    • Make the payment: Once you make the booking, you will have to pay a nominal booking fee or provide a nominal security deposit.
    • Car delivery: Then, your car will be delivered to you and you can use it for the entire period you have leased it out for.
    • EMI Payment: You will have to ensure you pay the monthly instalments towards the lease to enjoy the car lease service.
    • Return: At the end of the lease tenure, you will have to return the car to Revv. If you wish to keep the car, you can always pay a predetermined amount and take full ownership of the car.

    Revv Policy

    Revv has a car leasing policy in place that you will have to agree with to lease a car from Revv. Take a look at some of the elements of the policy:

    • Lease tenure: Revv OPEN offers several lease tenure options and you can select one based on your preference. The longer the lease tenure, the lower the EMI payable. You can also choose to extend or shorten the usage period.

    If you choose a longer period, the lower prices will apply and if you choose to shorten the tenure, you will have to pay the accumulated fee difference. A pre-closure penalty will be levied if you choose to return the car before completion of 12 months.

    • Car acquisition: If you have leased a brand-new car from Revv OPEN, you can acquire it at the end or during the usage period. You will have to pay a specific amount called the settlement charge. The car leasing company will help you with the documentation and RTO processes.
    • Security deposit: You will have to pay a security deposit to lease a car from Revv OPEN. In case of a new car, the deposit amount will vary based on the car model and the lease tenure. For unboxed cars, the security deposit amount is Rs.10,000. You can pay Rs.2,000 when you book and pay the rest at the time of delivery.
    • Limitation on mileage: Revv OPEN lets you use the car up to 25,000 km per year. Any extra mileage you might have used up will be chargeable on a quarterly pro-rated basis. If you haven’t reached the full limit, you can always carry over the extra kilometres to the following year. If you think 25,000 km per year is not sufficient, you can purchase extra kilometres in advance i.e. at the time of booking for a 30% discount. If you do not use these extra kilometres, the amount will be refunded to you.
    • Booking cancellation: If you need to cancel the booking after you have made the payment, you will have to pay a cancellation penalty.

    Difference between Brand New Car and Unboxed Car

    Parameter Brand New Car Unboxed Car
    Newness The car is booked especially for you The car is less than 2 years old
    Security deposit Depends on the car model and lease tenure Rs.10,000 has to be paid
    Returning the car before completion of lease tenure An accumulate fee difference plus pre-closure penalty is levied An accumulated fee difference has to be paid
    Ownership transfer You can acquire the car at a predetermined amount known as the settlement charge The facility is not available for unboxed cars
    Colour preference You can choose the colour of your choice You can make a choice depending on the cars available
    Delivery time It takes 30-45 days depending on the availability of the model with the dealership The car will be delivered on your preferred date
    Down payment No down payment
    Processing fee No processing fee

    Eligibility Criteria

    • You should be at least 21 years of age or a maximum of 40 years of age
    • The minimum income levels should be as follows:
      • Salaried individuals: Rs.4.8 lakh p.a.
      • Self-employed professionals: Rs.7.2 lakh p.a.
    • Any EMIs you are paying at the moment should be less than 50% of your income
    • If you live in a rented house, you should’ve moved in at least 3 months earlier
    • You should hold a valid driving licence

    How to Apply for a Revv OPEN Car

    For brand new cars

  • Choose a car model from the array of car models available.
  • Reserve it through the online platform.
  • Pay the refundable security deposit along with the rental for the first month.
  • The company will get your car registered and delivered to you within 30 to 45 days.
  • At the end of the lease tenure, you can either return it or acquire it.
  • For unboxed cars

  • Choose a car model online.
  • Check your eligibility by answering a few questions.
  • Book your unboxed car by making a payment of Rs.2,000.
  • OPEN will deliver your car on the date chosen by you.
  • You can then return the car after completion of the lease tenure.
  • Documents Required

    Here is a list of documents you will be required to submit to lease a car from Revv OPEN, through BankBazaar:

    • KYC document: Driving licence/PAN/Proof of address
    • Proof of income
    • Bank statement
    • One photograph
    • Cancelled cheque
    • Post-dated cheques (for use in case auto debit was not successful)

    FAQs

    1. Could you explain the payment cycle for the monthly fee?
    2. You will have to pay the fee for the first month 7 days before your car gets delivered. This payment date will be your billing cycle date. Hence, you will need to pay the monthly fee on or before this date.

    3. Under whose name will the car of my choice be registered in?
    4. The car that you select from OPEN will be registered in the name of PrimeMover Mobility Technologies or any of its supply partners.

    5. Is there any way to track when I order a car from OPEN?
    6. Yes, you will get instant updates regarding your OPEN car order. The company will also appoint a special concierge who will assist you throughout the car lease process.

    7. Can I choose another car model after driving it for a few months?
    8. Yes. You will need to complete the lock-in period and then return your present car and apply for a new one.

    9. How can I make the monthly fee payment for OPEN cars?
    10. You have to give a cancelled cheque of your bank account and sign a few important documents before the car is delivered to you. OPEN will then set an automatic debit system on your bank account for your lock-in period. Once you return the car, the automatic debit will stop.

    11. What is the accumulated fee difference?
    12. The accumulated fee difference is payable if you choose to return the car before completion of the period agreed upon between you and Revv. The fee is basically the difference between the fee payable for the period you used the car and the fee you would have had to pay in case of a longer period, multiplied by 12.

      For example, the fee payable for a 12-month lease tenure is Rs.13,000 and the fee for a 24-month lease tenure is Rs.10,000. If you choose to return the vehicle after 12 months, you will have to pay Rs.3,000 (difference between Rs.13,000 and Rs.10,000) multiplied by 12 i.e. Rs.36,000.

    13. What is the pre-closure penalty?
    14. The pre-closure penalty is a fine you have to pay in case you decide to return a brand-new car that you leased out. It is payable if you return it within completion of 12 months. The amount will be equal to 25% of the remaining EMIs until the 12th month of the usage period. This penalty is payable in addition to the accumulated fee difference.

    15. What is a cancellation penalty?
    16. In case you want to cancel the booking you have made, you will have to pay a cancellation penalty. The penalty is equal to the refundable deposit in case of new cars and Rs.5,000 in case of unboxed cars.

    17. Can I install new accessories on the car?

    The car will come with standard accessories provided by the manufacturer for the model you have chosen. Revv will add a telematics device to the car for safety reasons. In case you want to install any accessory, you will have to inform the company and get an e-mail confirmation from them. You will have to bear the cost of the accessory. At the end of the lease tenure, you can remove the accessory and keep it with you, as long as it does not damage the car when you remove it. If you leave the accessory on, Revv will not be liable to pay for it.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.