[mtnrajdeep]

Originally Posted by handsofsteel

What is the catch?

You missed considering the electricity cost for charging and the maintenance costs.

[FocusAssist]

So MG is now the perfect Taxi brand. So easy for fleet operators to think about when financing and ammortizing the cost.
MG Comet - Uber micro - ₹12/km
MG Cloud - Uber Prime - ₹15/km
MG ZS - Uber premium - ₹19/km

Driver salary - 30k for ZS for 3000 kms ~ ₹10/km
Electricity cost - ₹0.5/km

[handsofsteel]

Originally Posted by mtnrajdeep

You missed considering the electricity cost for charging and the maintenance costs.

No, already catered for. charging cost is 1 re per km. Added to per km cost, 2.5+1= 3.5/km.

[VWAllstar]

Originally Posted by handsofsteel

We were all discussing the “Maruti moment” in the other thread. Now, with the Comet being brought under the ambit of BaAS, I’m suddenly interested. My use case is as follows. Kindly tell me if I’m missing something.
Usage per year - 17000km of city traffic
Per km cost in present car - Rs 8.
Cost per km on Comet - Rs3.5.
Total savings for 51,000km(3 years) = 2,29,500/-
If I sell it back under the buy back, I get 3 Lakh (60% of ex showroom). Net outgo from my pocket = 2lakh
This is offset by the running cost savings of 2,29,500/- indicated earlier. So I’m actually in the green? With application of gst, figures will be adjusted slightly, still win win?

What is the catch? Would be grateful if someone could poke a hole

What about the acquisition cost? This is considering that your current car's selling price is equal to the buying price of the Comet. Rs. 4.99 L will be for the base variant. My situation pretty similar to yours.

Considering my current car sells for Rs. 3.5 Lakhs

Comet Excite Variant (FC) at Rs. 6.5 Lakhs (assumed post deducting Rs. 2 L from the current ex showroom)

Running cost of current car (diesel) Rs. 5/KM
Running cost of Comet Rs. 3.5/ KM (Rs. 1/KM for electricity)

Buyback price post 3 years Rs. 3.9 Lakhs

Monthly running: 750 KMs

Three years running: 27000 KMs

Savings in running cost: Rs. 40,500

Savings in acquisition cost: Rs. 90,000 (buyback - 3 Lakhs difference from current car)

Overall savings: Rs. 1.3 Lakhs

Not making it complicated by considering the opportunity cost of investing Rs. 3.5 Lakhs for 3 years and so forth. I need a car at all times

[narayans80]

Originally Posted by handsofsteel

What is the catch? Would be grateful if someone could poke a hole

The catch is not in the spreadsheet, its in the body of the owner.

You are not factoring the intangible benefit you get with the XL6 suspension. Comet is shod with 145/70/R12, which for comparison is similar to driving a car with scooter wheels.

You can't throw potholed sections at the Comet, like you do with the XL6. For one, you'll end with a puncture or a bent rim. That shockwave is thrown at your body

I took my Jupiter on my daily 80 km for a few days last year. My body simply couldn't handle it for more than 2-3 days on the trot.

I briefly considered the Comet and dropped it for the above said reason.

If you are dealing with odd potholes, craters on a daily basis, this is something you have to consider. A lone test drive won't reveal it. See if you can rent an Eon or Nano and see if you can live with it for a week.

[krishnakarthik1]

Originally Posted by handsofsteel

What is the catch? Would be grateful if someone could poke a hole

The profit is just 29k based on your calculation which would go towards tyres change. And that 60% buy back will come with a huge * when you really go down and sit with them after 3 years.

The present car which is costing you 8rs will be always more comfortable than the comet.

For 17k kms per year I think you don't need a EV. I am doing 3k per month on my Tiago EV and the savings are really huge. The fuel savings are paying off the emi amount.

[SmartCat]

The biggest benefit of BaaS scheme is lower depreciation costs over ownership period. The killer cost of an EV is the 'invisible' depreciation costs (purchase value minus resale value) and BaaS scheme addresses that fairly well. Because:

- Initial outflow is low. In absolute numbers, you lose less Rupees every year.
- Assured buyback of 60% after 3 years. With not-so-great resale values for EVs, this is a boon.

"cost per km" savings in BaaS is just an illusion. As we discovered in Windsor thread, you are just splitting your EMI into two parts. That is, even if you buy an EV outright, you will have similar "savings" numbers on your Excel spreadsheet.

However, while there is a buyback offer @ 3 years with BaaS scheme, but there is no buyback offer for 4/5/6 years usage. So, this means, you need to buy a new EV again after 3 years. Large outflow again for a new EV will hurt your wallet big time. If you want to keep the car after 3 years, you are left to resell the car in the open market (and be exposed to the risk of getting low offers).

[handsofsteel]

Originally Posted by krishnakarthik1

The profit is just 29k based on your calculation which would go towards tyres change. And that 60% buy back will come with a huge * when you really go down and sit with them after 3 years.

The present car which is costing you 8rs will be always more comfortable than the comet.

I fully expect the notional 29k also to be whittled down due to stuff like insurance premia, tyres etc.

The buy back is what seems to be too good to be true to me.

Completely agree with the comfort part but I’m looking at the comet replacing my two wheeler and functioning as a second car.

Originally Posted by VWAllstar

What about the acquisition cost? This is considering that your current car's selling price is equal to the buying price of the Comet. Rs. 4.99 L will be for the base variant. My situation pretty similar to yours.

I’m not looking at selling my present car at all.

My present car is doing 17k per year in city roads which are flat, pothole and speed breaker free. Looking to shift those duties to the comet. My two wheeler is doing 3-4000km a year which my present ICE car will take over.

At the end, even if I have to shell out some money in the overall bargain during buy back, I’ll still consider it as overall cost of “renting” a car for three years. That’s what I’m contemplating

[dust-n-bones]

Windsor base variant is priced at 10 lacs+ BaaS

https://www.mgmotor.co.in/vehicles/w...c-car-in-india

[Warwithwheels]

The biggest grey area of BaaS is the resale value. Am not sure how many buyers/ dealers would be interested in buying the vehicle with a subscription in the used car market.

I recently got the top end comet for 8.60 L ex showroom without worrying about any subscription issues.

EDIT: You will have to shell out additional money for the buyback scheme which comes with a lot of T&C's

[vellatechie]

My total monthly usage is under 1000km a month and Comet makes tons of sense to replace my decade old polo (second car).

I just have one issue: I need clarity that if anytime I want to buy the battery and get out of the BaaS program what will be the cost. My doubt is suppose Comet bombs and company stop producing the car. What if I want to buy the battery 7 years down the line. Will the company charge me a premium saying the car isn't made anymore. Secondly, will I get a brand new battery or will I be expected to buy the battery I have in the car for a full price.

[guptad42]

Originally Posted by SmartCat

The biggest benefit of BaaS scheme is lower depreciation costs over ownership period. The killer cost of an EV is the 'invisible' depreciation costs (purchase value minus resale value) and BaaS scheme addresses that fairly well. Because:

- Initial outflow is low. In absolute numbers, you lose less Rupees every year.
- Assured buyback of 60% after 3 years. With not-so-great resale values for EVs, this is a boon.

Even this depreciation saving looks like an illusion to me, unless MG JSW releases more details that are pro-consumer.

1. In place of the depreciation, you are paying the cost of the battery + additional interest as a monthly payment. Still cashflow out of your pocket.

2. The insurance premium will be on full ex-showroom price including the battery, which means you are paying for battery insurance even if the battery practically belongs to the financier.

3. At the time of resale, Windsor owners can expect a shock. They will need to pay back the battery loan amount with years of interest before they can sell the car. Which will eat away a good chunk of the promised 6L/60% buy back on the base model's 10L 'price'. And there is an additional cost the buyer has to pay to even get that option for buy back.

Consider this, if the vehicle were not resold, the financier would continue to get the 3.5Rs per km rate. If MG-JSW are such hard-core believers in the BaaS model, why ask buyers to pay back the full cost of the battery with interest at the time of resale? Just charge the same Rs 3.5 per km from the new owner that you resell the car to! .

Then, that will be a proper subscription. 9.99L car + flat rate 3.5Rs per km battery. No ifs and buts. Keep the battery ownership with MG-JSW, which also lets them legally reclaim the battery at the end of life and use it to make new batteries. The way battery energy densities are improving, in another 7-8 years the same amount of battery metals will give you double the KWH/range. The could make 80KWH worth of batteries from the material of this 38KWH battery. The used battery is a precious, already refined source of battery minerals.

[puneetakhouri]

Originally Posted by ferrarirules

Comet is available at Rs. 4.99* lakh + Battery rental @ 2.5*/km

Completely off topic but I feel this should be the price of Comet including battery.

[GoBabyGo]

Hi, MG has shown with battery price of Windsor EV as under:

Excite 13.498 lacs
Exclusive 14.498 lacs
Essence - 15.498 lacs

[DIY410]

Originally Posted by GoBabyGo

Hi, MG has shown with battery price of Windsor EV as under:

Excite 13.498 lacs
Exclusive 14.498 lacs
Essence - 15.498 lacs

R.I.P Nexon, Punch and XUV400. Unless one fancies the bigger battery or people who do more highway runs, there is absolutely no reason to even get Currv EV, ZS EV.

Some people I know who just wanted a reliable EV considered getting the Atto 3 base variant over the ZS EV, mainly because of its bigger rear knee room and seat width but who don't do much of highway runs are suddenly having second thoughts. Since the Windsor EV is even bigger on the inside.

MG can really kill the Currv EV, ZS EV and Atto 3 base model by launching the 50 kWh version.

Hell even the upcoming Creta EV with it's 49 kWh battery will not find much takers. The Windsor is even more spacious and has better aero dynamics resulting in better highway range. Creta shape is like a brick worse than even the ZS EV. The Windsor 50 kWh version has a 40km range advantage over the ZS EV mainly due to lower drag coefficient of the Windsor.