How EV Leasing Works: A Complete Guide for First-Time Drivers

 

How EV Leasing Works: A Complete Guide for First-Time Drivers

Low tailpipe emissions, rising petrol and diesel prices, and lower running costs are making EVs increasingly popular in India. However, for many first-time drivers, the idea of buying an EV can be daunting. EV leasing can be a useful alternative for these drivers, offering a flexible and often more accessible path to owning an electric vehicle.
If first-time drivers are considering EVs, this guide will walk them through the essentials of electric vehicle leasing in India and help them understand whether it’s the right choice for them.

What’s the Deal with EV Leasing?
When it comes to leasing an electric car, drivers pay a set monthly fee to use the car for a specific period. Once the lease ends, the car typically goes back to the leasing company.

How the EV Leasing Process Works: A Step-by-Step Guide for Beginners
Navigating the leasing process for the first time may seem complex, but it is quite straightforward.

Step 1: Find Reputable EV Leasing Providers

In India, numerous companies offer EV leasing services. When selecting a provider, potential lessees should prioritise those that:

• Offer a diverse selection of EV models.
• Present clear and flexible lease terms, including duration and mileage.
• Provide comprehensive packages, typically including roadside assistance, maintenance, and insurance.
• Ensure full transparency regarding fees and contracts.
• Demonstrate excellence in customer service.

Step 2: Assess Needs and Research EVs

• Understand driving habits: What are the daily driving needs and typical routes? This helps determine the ideal EV range and mileage limit for the lease.
• Charging access: Is convenient home charging available? Is public charging accessible near work or frequent destinations? This is crucial for EV practicality.
• Explore EV models: Research well-known EVs available for lease in India. Compare their features, charging durations, and user reviews.

Step 3: Choose the EV and Customise the Lease Plan
Start by selecting a vehicle that fits your needs and budget. Then, collaborate with the provider to finalise lease details, including:

• Lease term: Decide how long you want the car (e.g., 36 months).
• Annual mileage: Be realistic about driving habits to avoid excess mileage fees.
• Upfront payment: Some plans require no down payment, while others might.
• Included services: Confirm which services are part of the monthly fee.

Step 4: Prepare Documents
Leasing companies will require documentation to assess eligibility. These usually include:

• Proof of identity: Driver’s licence, passport, PAN card, or Aadhaar card.
• Proof of address: Rental agreement, utility bills (electricity, landline), etc.
• Proof of income:

For salaried individuals: Bank statements, last three months’ salary slips, and Form 16 for the past two years.
For self-employed individuals: Bank statements and the last two years’ ITR with financials.

Step 5: Application, Approval, and Agreement Signing 

Once approved, the lessee must: 

• Submit application: Provide the completed form and required documents.
• Credit check: The company will assess your creditworthiness.
• Information verification: Ensure all information is accurate.
• Sign agreement: Carefully read and understand all terms before signing—this includes mileage limits, wear-and-tear guidelines, and end-of-lease options.

Step 6: Take Delivery of the New EV

• Make the first payment: Pay any upfront amount specified in the contract.
• Vehicle handover: The EV is delivered by the leasing company.
• Documentation: Ensure you receive all relevant documents, including insurance and the registration certificate (RC).

Step 7: Drive and Manage the Leased EV

To maximise the EV experience:

• Follow lease rules: Adhere to mileage limits and recommended maintenance schedules.
• Get comfortable with charging: Learn to charge the EV at public stations and at home.
• Understand lease-end options: When the lease ends, choose whether to return the vehicle, extend the lease, or upgrade to a newer model.

Important Considerations for First-Time EV Lessees

• Charging Infrastructure: While expanding, public EV infrastructure in India is still developing. Plan routes carefully, especially for long-distance travel.
• Wear and Tear: Understand what qualifies as normal wear and tear versus excessive damage to avoid end-of-lease fees.
• Early Termination: Be aware of penalties or fees for ending a lease early.

Gentari’s Role in EV Leasing

With its Vehicle-as-a-Service (VaaS) model, Gentari offers comprehensive EV fleet solutions to businesses across the Asia-Pacific region. By providing flexible long-term EV subscriptions, along with full support—including charging and maintenance—Gentari makes the transition to electric mobility seamless. With thousands of EVs already in use, Gentari helps companies effectively lower their carbon footprint.

Conclusion
EV car leasing in India offers a cost-effective and convenient entry into sustainable driving, especially for first-time drivers. By understanding the leasing process and key considerations, individuals can enjoy the benefits of electric vehicles without the complexities of ownership.

Gentari simplifies the shift to electric mobility through its Vehicle-as-a-Service (VaaS) solution, offering tailored EV subscriptions, maintenance, and charging support. With thousands of EVs already deployed, Gentari is empowering businesses to reduce emissions and adopt greener transportation practices.