A lot of people today want to buy an electric vehicle, but because of the uncertainty surrounding resale values, they avoid buying these EVs. So, in order to help such car buyers, major automakers in India that offer EVs are now offering assured buyback programs. So, without any delay, here are the details of the electric cars that are available in India with assured buyback schemes.
Maruti Suzuki e Vitara - Maruti’s first EV
Maruti Suzuki has recently entered the electric vehicle segment with the launch of its much-anticipated e Vitara. To make the ownership experience more attractive, the company is also offering an assured buyback program. Under this scheme, buyers can receive up to 60 percent of the vehicle's value after three years of ownership, provided the vehicle has covered up to 45,000 km.
It has also been announced by the company that customers who opt to use the vehicle for four years can receive up to 50 percent buyback value for up to 60,000 km of usage. Apart from the buyback program, the e Vitara is being offered with a complimentary 7.4 kW AC wall box charger with free installation.
Additionally, buyers will also enjoy one year of complimentary charging through the company's e For Me charging network, an 8-year or 1.6 lakh km battery warranty, and a standard 3-year vehicle warranty. The e Vitara starts from Rs 15.99 lakh and goes up to Rs 20.01 lakh. Meanwhile, with the Battery-as-a-Service program, it starts at Rs 10.99 lakh.
MG Windsor EV - Highest-selling EV in India
The MG Windsor EV has quickly become one of the most popular electric vehicles in the country. Presently, it is the best-selling EV in India. What makes it even more attractive is the buyback program from MG. The company is offering the Windsor EV with buyback values ranging from 40 percent to 60 percent. These depend on the ownership duration and vehicle condition.
This scheme is available for ownership periods that range from three to five years. As a result, customers can better plan their long-term ownership costs. The Windsor EV is also available with the Battery-as-a-Service program. Prices of the MG Windsor start from Rs 13.99 lakh with battery ownership. Meanwhile, with BaaS, they start at Rs 9.99 lakh.
MG Comet EV - Smallest EV in India
Next up in the lineup is the MG Comet EV, which is currently one of the most affordable electric cars on sale in India. Like the Windsor EV, MG is offering buyback assurance benefits on the Comet EV as well. Customers can get buyback values that range from 40 percent to 60 percent, but this will depend on ownership tenure.
The scheme covers ownership periods between three and five years. The Comet EV starts at Rs 7.62 lakh with battery ownership. Meanwhile, buyers who want to opt for the BaaS model can purchase the vehicle from Rs 4.99 lakh and pay separately for battery usage.
MG ZS EV - One of the very first EVs to offer buyback
MG's flagship electric SUV, the ZS EV, is one of the first mainstream EVs that became popular in India. As a result, MG is offering it with the assured buyback program. The ZS EV offers up to 60 percent buyback value after three years. This buyback will depend on the ownership period and vehicle condition. Customers can expect buyback values that range between 40 percent and 60 percent.
One of the most interesting aspects of the ZS EV buyback scheme is that it also extends to commercial fleet operators. Fleet owners can also avail themselves of the program. However, the annual usage will have to be within specified limits.
VinFast VF 6 - New to the game
Vietnamese automaker VinFast recently entered the Indian market and is offering one of the most aggressive buyback programs currently available. The VinFast VF 6 comes with an assured buyback value of up to 75 percent. This is among the highest buyback values currently available in the Indian automotive industry. The scheme is available across ownership periods that range from two to five years.
In addition to the buyback program, VinFast is also offering a 3 percent loyalty bonus for customers upgrading to another VinFast vehicle in the future. Buyers who replace an existing internal combustion engine vehicle can also receive an exchange bonus of up to Rs 1.3 lakh. The VF 6 is priced from Rs 17.29 lakh.
VinFast VF 7 - Bigger VinFast also gets buyback
The larger and more premium VinFast VF 7 is also being offered with the same attractive ownership package. Like the VF 6, the VF 7 offers up to 75 percent assured buyback value depending on ownership duration. Buyers can choose buyback plans covering two, three, four, and five years. The VF 7 also offers a 3 percent loyalty bonus and exchange benefits offered by VinFast. As for the pricing, it starts at Rs 21.89 lakh.
Tata Tiago.ev - Only with BaaS
Tata Motors has recently updated its affordable electric hatchback, the Tiago.ev. This time around, it has also introduced it with a Battery-as-a-Service option. Now, with BaaS, customers can purchase the vehicle at a significantly lower upfront cost and pay separately for battery usage. The Tiago.ev BaaS starts at Rs 4.69 lakh and requires a battery usage fee of Rs 2.6 per kilometre.
Customers who opt for this program will also benefit from an assured buyback scheme, which offers values ranging between 40 percent and 60 percent depending on ownership duration and vehicle condition. The program covers ownership periods ranging from three to five years.
Tata Punch.ev - Once again, buyback is only with BaaS
The Tata Punch.ev has also been recently updated, and it became the first Tata.ev to offer a Battery-as-a-Service model and assured buyback benefits. The BaaS version starts from Rs 6.49 lakh, and the battery usage cost is Rs 2.6 per kilometre. As per the company, customers can get up to 60 percent buyback value after three years of ownership.
After five years, the buyback value can be around 40 percent depending on the vehicle's condition and usage. In addition to the buyback scheme, Tata Motors is also offering a lifetime battery warranty with unlimited kilometre coverage for the first owner.
Why do assured buyback programs matter?
As we all know, electric vehicle technology is developing very quickly, and this makes older EVs outdated very quickly. Due to this, many buyers become uncertain about future resale values. So, with these assured buyback schemes, companies are helping to eliminate that uncertainty by guaranteeing a minimum resale value after a fixed ownership period. These programs make EV ownership more predictable and also help customers calculate long-term running costs more accurately.
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