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Use Your New Car as Mobile Billboard and Skip Vehicle Loan EMI in India
At last it has come to India and this is indeed a good news for those who are planning to buy a new vehicle on a pre approved bank loan. A new scheme has been introduced by an advertising firm in Pune which will help you to own your car by just paying 25% of the car cost. This is initially applicable to small cars and with the help of this new scheme you will just need to pay 25% of the amount upfront after which you do not need to pay the EMI for the next 3 years.
Sounds really confusing, right? But the fact is that the Dreamers Media and Advertising, a media and advertising firm in Pune is coming up with a creative plan in which your new vehicle will be used as a mobile billboard to display advertisements of various businesses. The advertising firm will pay the EMI for your car for the first 3 years of your loan term and will indeed generate revenue by using the body of your car as a medium for advertising.
Initially the scheme is confined to small cars that do not cost more than 6 lakhs and once the advertising term of 3 years is over, the vinyl sticker advertisements will be removed from the car. The remaining EMIs have to be paid by the owner, but still this is indeed a good deal. The only major condition is that the new car needs to run at least 1500 km per month which will almost be equal to 50 kms a day.
As per the CEO of Dreamers Media and Advertising, this is really a new and innovative way of advertising which will help both the advertisers as well as the vehicle owner. This scheme will make the purchasing of small cars affordable to a wider range of people as they do not have to pay the EMI for the first 3 years in return for allowing his or her car as an advertising billboard. For the advertisers, the advertisements placed on the cars will reach a much wider and diverse range of audience which will provide a positive impact on the advertisements.
If this scheme is implemented in a full scale, we will be able to witness a huge increase in the car sales in various parts of India as such small cars will be more affordable to the middle class people. More and more companies will be approaching the advertisers to place their ads on various cars to improve their business visibility and also increase their branding. This is a win-win situation for both the parties as the benefit is reaped by both the sides.
In my opinion, this scheme is a better innovation and a good initiative from the advertising firm. But the real question lies whether a good number of people will be willing to put ads on their cars in return of no EMI for the first 3 years. In the case of private cars, majority of the people will not be willing to put advertisements on their car and travel to different places. Especially in India, it is surely going to hurt their ego and a sense of inferiority complex will surely creep into their minds.
But this will work well for those using their cars as a taxi or other public services as owners will be ready to put advertisement and drive their car anywhere as it is not at all a private vehicle. But most of the private owners will not be ready to paste the advertisements even if they know that they are going to struggle to pay the EMIs properly. But let us wait and see how this new way of advertising method works and how effectively it is going to be implemented.