Piaggio India has partnered with Bengaluru-based OTO Capital where it offers the option of leasing Vespa and Aprilia range of scooters for new customers. The leasing service will be first made available in Pune and Bengaluru and allows customers to acquire the two-wheeler on monthly EMIs without a hefty down payment. Leasing two-wheelers also makes the documentation a simpler process while the monthly subscription cost covers registration, insurance and maintenance of the vehicle for the lease period.
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Commenting on the association, Diego Graffi, Chairman and MD, Piaggio India said, "We welcome the partnership with OTO Capital to facilitate this new model of ownership. Now, our discerning customers can enjoy interesting ownership options across our premium offerings of Vespa and Aprilia. We see flexible ownership to be a desirable new trend amongst the youth of India and we believe, Vespa and Aprilia would lead it to extend the premium experience to the aspirants."
The monthly subscription under the lease period covers the registration, insurance and maintenance of the vehicle
OTO Capital says the Aprilia and Vespa scooters can be leased for a low down payment compared to a conventional ownership cost and with a 30 per cent discount on the EMI. Furthermore, the first month's subscription fee of Rs. 2,500 will be waived off for customers. Depending on the tenure that ranges between a few months and three years, customers have the option to own the scooter at the end of the lease period by paying the difference amount or upgrade to a new vehicle instead.
Also Read: OTO Capital Announces My OMI Plan For Flexible Two-Wheeler Financing
The option of leasing a vehicle only requires owners to pay for the number of months the car or two-wheeler has been used, offering a flexible ownership choice. In addition, corporate customers working with companies that have tied up with OTO Capital can also avail tax savings. It needs to be noted that while the flexible payment option do make vehicles easily accessible under lease programmes, the purchasing cost of the vehicle at the end of the tenure will be slightly more expensive.
Also Read: Vespa Racing Sixties 125 & 150 Special Edition Launched In India
The 2020 Vespa Racing Sixties Edition gets the same mechanicals as the standard model
Piaggio India recently introduced its BS6 line-up of scooters under the Italian brands. The company followed it up with the Vespa Racing Sixties Special Edition that brought new graphics and paint scheme inspired by the motorsport era of the 1960s on the scooters. Piaggio India also retails scooters via its own e-commerce platform.
