Please read these terms and conditions carefully before using DriveValue’s car leasing services. By proceeding with our leasing plans, you agree to comply with the policies and conditions mentioned below.
DriveValue offers a 5-year fixed tenure car leasing plan. The customer pays a one-time upfront amount and uses the car for 5 years. At the end of the lease, the car must be returned to DriveValue and the customer receives the assured return value, subject to vehicle condition.
The assured return value is the guaranteed amount that the customer receives after returning the vehicle at the end of the lease tenure, provided the car is in acceptable condition and all terms are followed.
The customer must maintain the vehicle properly, follow traffic laws, ensure timely servicing and insurance, and keep the car in good running condition throughout the lease period.
Normal wear and tear is acceptable. In the event of any major damage, the vehicle is fully covered under insurance, subject to applicable policy terms. There will be no deductions from the assured return value for insured damages. Customers will not bear the cost burden for major damages covered by insurance.
Yes, early lease termination is allowed and will be handled under the following options:
After 3 years:
If the lease is ended after completing 3 years, it will be settled as per the standard lease terms applicable at that stage.
Before 3 years:
If the lease is ended before completing 3 years (for example, after 6 months or 1 year), the charges and any adjustments will still be calculated based on the 3-year lease plan.
Any reductions or deductions, if applicable, will be evaluated using the 3-year tenure as the reference, irrespective of the actual duration the vehicle was used.
No. The leased vehicle cannot be transferred, sold, or sub-leased to any third party without written permission from DriveValue.
All traffic fines, challans, penalties, and legal issues during the lease period are the sole responsibility of the customer.
The customer must submit valid identity proof, PAN card, and any additional documents required by DriveValue for verification and approval.
DriveValue does not conduct regular or monthly inspections during the lease period.
An inspection is carried out only at the end of the lease, after the vehicle is returned and prior to its sale. At that time, the vehicle is assessed for overall condition and any damage, if applicable.
Any applicable deductions, if required, are calculated separately based on the final inspection, depending on the condition of the vehicle and the extent of damage.
All disputes are subject to the jurisdiction of the company’s registered office location.
The leasing amount only covers the right to use the vehicle under the DriveValue plan. Insurance, service, maintenance, fuel, and any government charges are not included unless clearly mentioned in writing.
Yes. Insurance is mandatory for the vehicle. DriveValue provides and manages the insurance coverage throughout the lease period. The customer is not required to arrange insurance personally, provided all terms and conditions are followed.
The customer is responsible for regular servicing, maintenance, and keeping the vehicle in good running condition during the entire lease tenure.
Yes. DriveValue reserves the right to inspect the vehicle at any time during the lease period to ensure proper usage and maintenance.
At the end of the lease tenure, the customer must return the vehicle to DriveValue. After inspection and approval of the vehicle condition, the assured return value will be paid to the customer.
DriveValue reserves the right to modify pricing, plans, or policies at any time without prior notice.
