Buying The Ather 340: Lease Vs Loan - Which is Cheaper?
We explain if leasing the Ather 340 makes more sense than getting one through a loan
We explain if leasing the Ather 340 makes more sense than getting one through a loan
Ather Energy, a Bengaluru-based electric vehicle manufacturer, recently announced a new leasing program for its scooters - the Ather 340 and the Ather 450. Naturally, we had to compare if the new leasing program makes more financial sense than buying the e-scooter through a loan. So we’ve chosen the most affordable scooter of the lot, the 340, and crunched some numbers in a bid to help you save some dough. Check out the table below for details:
| Ather 340 On-road price: Rs 1,12,730 (B) | Ather subscription fee is Rs 6,000 (C) | |
| Lease (24 months) (Rs) | Loan (24 months) (Rs) | |
| Downpayment (D) | 48,000 | 48,000 |
| Monthly Rent/EMI | 3,101 | 3,156 |
| Total Rent/EMI paid over 24 months (E) | 74,424 | 75,744 |
| Extra cost to permanently buy scooter at the end of 2 years | 45,000 | NA |
| Ather subscription fee (for 2nd year) | NA | 6,000 |
| Total Cost of Ownership at the end of 2 years (A) | 1,67,424 | 1,29,744 |
| Extra money spent over outright purchase = A - (B+C) | 48,694 | 11,014 |
| Money-back if scooter returned after lease period (F) | 28,800 | NA |
| Total expense if scooter returned after lease period (G) = D + E - F | 93,624 | NA |
| Savings after returning scooter after lease period = B - G | 25,106 | NA |
Going by the above calculations, it’s pretty evident that buying the Ather 340 through a loan is marginally less expensive than leasing one. But that’s only if you decide to keep the scooter after the lease period expires. However, if you lease the scooter and then part ways with it after two years, then you stand to save Rs 25,106 against the on-road price of the scooter.
Another interesting aspect to note is that if you buy the scooter by paying the on-road price at once, use it for two years and sell it off for at least half the on-road price, you still get a retrun of around Rs 56,000! In a nutshell, the most affordable way to buy the Ather 340 remains the traditional way - a one-time direct transaction.
If you are wondering how the Ather 340’s running costs compares against India’s best-selling scooter, the Honda Activa 5G, check out our cost analysis for a period of 3 years here.
Ather 340 User Reviews
Ather 340 : 1. Design and style is eye-catchy simplistic and yet futuristic, 2. Quality of the materials used is topnotch for an e-bike, outperforms any other bikes in the category and even the most regular petrol bikes, 3. Ride quality is superb with the Motor sound replacing the petrol engine sound is pleasant, with no vibrations on the handle or the seat compared to the petrol ones, 4.Amazing pick-up, Balance, 5. The reverse side switch is useful, 6. The navigation is great but lacks the traffic updates like google maps, 7. Side stand quality and design is great, the center stand would have been useful which is missing, 8. Indicators position is little far but its just a matter of time to get used it. 9. Comfort is great for pillion too, boot space is good, 10. Breaking is sharp due to disc brakes, probably abs would have helped to ease, 11. Charging is reasonably fast, a portable charger will be handy. 12.The service on-site feature adding to more convenience, 13. Smart phone connectivity and other ride details features are an added advantage.
Very low mileage as compare to other bikes and price is also very high but looks are very good.
It is an awesome bike. The pickup is amazing. It is very spacious which gives great comfort.
The company should give more affordable EMI and government should give subsidy on an electric scooter to promote it.
Nice bike for office and daily use In affordable price which is best for a middle-class family.