Revv OPEN Car Lease

List of Cities where you can Lease Revv Cars

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

1. Bengaluru
2. Delhi - NCR
3. Chennai
4. Jaipur
5. Hyderabad
6. Mumbai
7. Pune
8. Mysore
9. Coimbatore
10. Mangalore
11. Kolkata
12. Ahmedabad
13. Surat
14. Vijayawada
15. Vizag
16. Chandigarh
17. Kochi
18. Trivandrum
19. 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.

*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:

1. 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.
2. Make the payment: Once you make the booking, you will have to pay a nominal booking fee or provide a nominal security deposit.
3. 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.
4. EMI Payment: You will have to ensure you pay the monthly instalments towards the lease to enjoy the car lease service.
5. 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:

1. 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.

1. 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.

1. 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.

1. 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.

1. 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

Eligibility Criteria

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

How to Apply for a Revv OPEN Car

For brand new cars

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

For unboxed cars

1. Choose a car model online.
2. Check your eligibility by answering a few questions.
3. Book your unboxed car by making a payment of Rs.2,000.
4. OPEN will deliver your car on the date chosen by you.
5. 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:

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

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