It seems like a dream idea - having someone pay the equated monthly installments on your newly acquired car. That is exactly what Pune-based out-of-home (OOH) advertising agency Dreamers Media and Advertising is offering car buyers. "We will share the payment of EMIs if you allow us, in return, to use your vehicles as moving billboards" is how they are tempting prospective car owners. Dreamers Media CEO Sunis Mohamed feels the concept will enable brands to reach a wider target audience, create a new communication medium in the OOH space and, at the same time, aid purchase of vehicles in a sluggish market.
Dreamers Media, which plans to start the scheme in the first week of September, has set a target of 15,000 vehicles this financial year and 100,000 cars in the next. It is eyeing a turnover of Rs 150 crore from the venture in the first year itself.
It seems like a winning scheme for car buyers. But should you go for it? As with all good things, there are terms and conditions attached. Here are the terms and conditions, decide carefully after you have read these.
> The owner is required to pay 25 per cent of the value of the car as down payment at the time of purchase on a five-year scheme. Dreamers Media will pay the EMIs for the first three years, while the owner will have to shell out the installments in the remaining two years.
> The maximum value of the car covered under the offer should not exceed an on-road price of Rs 6 lakh.
> The company will use 40-60 per cent of the vehicle's surface for vinyl ad stickers of its clients. Teams from Dreamers will consult owners before sticking the ads on the cars. Mostly, ads will be for consumer and white goods, automobiles and telecom companies. The agency will avoid using ads of contraceptives or tobacco companies on cars meant for family use.
> Maintenance teams from the company will visit the owner periodically to check if the stickers are in good shape, and change them when the contract with a particular brand ends. Car owners will be given 48-hour notice for such a visit
> Car owners have to use their vehicles over a minimum of 1,500 km every month in the metros and 1,200 km in Tier II cities. GPRS systems will be installed to track the movement of cars.
