I want to attach my car to company on Monthly Basis

More and more people are chanting jargons like ‘I want to attach my car to company’. This is because in its nascent stage only cab fleet services accounted for around 9 billion Dollars share in the overall market in 2016 and expected to reach 14.3 billion dollars with its rising presence in Tier-1 and Tier 2 cities

Taxis/ cabs cater to new era demand. This is a services used by group of people or one person that conveys the passenger to their destined location.  With rapid urbanization, increased disposable income, broadening of middle-class earning group, consumerism and modernization has flamed the demands for hired cars. It is different from other means of public transports because cabs service providers lets the customers decide its pickup and drop location which is not the case with other public transportation. The hassle free journey, air conditioned environment, entertainment facility, convenience in commuting with pickup and drop facility has made it all the popular predominantly among middle income group.

Tourism Ministry has permitted many private mobile service providers to operate hired taxis. There are many transportation network companies like Ola and Uber that use cars such as Wagon R, Toyota Etios, Maruti Suzuki Swift, Swift Desire, Maruti Omni, Tata Indigo, Honda City, Tata Indica, etc.

With the growing demand for hired car services, there is huge demand for cars by the mobile car service providers.

What do you think that with the rising demand for cars, every time company or travel agencies requires a car, they purchase it? No, it’s not true. Let’s break this myth. They enroll cars on rent or employee drivers that have his own car.

I have two cars. I only uses one and another is lying ideas for an year.  It was doing nothing but piling up the burden of cost of maintenance and repair on my shoulders. Once my friend asked do I want to attach my car to company and earn a passive income?  I was hesitant at first because though it was lying ideal but i worked hard to get it so how can I give away my car, and compromise upon my ownership rights. He further ask do I want to rent my car to a company on monthly basis? This gave me gleam of certainty and security to my car. That’s when I decided that I want to give my car on rent in company and earn a good deal, by supplying to this increasing demand.

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Personally, I want to attach my car to company in Mumbai. Firstly because I reside in Mumbai and secondly because of its ubiquitous presence in Mumbai city. Also Mumbai city offers advantages to Cab services over the auto rickshaws. City gives monopoly to mobile car services as it restricts the movement of auto rickshaws in the main district.

If you are also from Mumbai then “i want to attach my car to company in Mumbai” should be the jargon. Take advantage of the opportunity provides because in other cities taxi or cab drivers are facing huge competition from auto drivers.

After renting my car, I, no longer have to worry about the cost of repair and maintenance, it’s all company job now. The deal sound financially attractive, I grab the opportunity to take it.

Now, the main question was how to give car on rent to companies?

There are few things that I need to make sure about my car before I want to attach my car to company, those were:

Prerequisite for renting a car is ensuring that the car which you are going to rent is in good condition. A functionally efficient and effective car will remain in high demand and more and more companies will be willing to buy it.

Next important things are papers concerning your car. You should have all the documents required to corroborate your car legitimacy and insurance cover policy. Documents like PAN card, Aadhar card, address proof, Vehicle RC, Vehicle permit, vehicle insurance

Ministry place a system of getting rid of unfit vehicles by the way of automatic de-registration after 15 years. These vehicles are required to be registered again if they are functioning well or scrapped if it doesn’t satisfy the vehicle fitness parameters. I got my fitness certificate before I want to give my car on rent in company.

It is important to do my homework of background research before I want to attach my car to company. Be fully equipped with the details of the company, route of operation, pay structure, etc.

Get full details about the pay structure. Different companies follow different paying criteria; also the kind of service the car is dealing in also determines the amount that you are going to earn.

For example, in my case I experienced few options. Initially, I want to rent my car to a company on monthly basis. There is fixed stipulated amount, which I am going to get at the end of the month, envisaged in the contract I signed with the company. In this type of contract, there is one big advantage which is that you are going to get your share of monthly pay irrespective of how the company or agency is performing. You are free and secured from unpredicted shocks.

Whereas when I want to give my car on rent in company like Ola and Uber or travel agency, you will get paid calculated upon the number of rides it is providing each day. There will be uncertainties but uncertainties are not always negative, you can also earn higher evinced by owing to its huge demand. Nonetheless, it’s a win-win game for you, you are anyway going to get decent amount while sitting at home from your unused property.

Contact nearest office to get your car registered.

There is a self-drive option in the contract, if you are going  for this option make sure that you have negotiated the security amount before, so that in case of unforeseen circumstances finances doesn’t smack you in the face. You will get the stipulated security amount.

I hope this answers your question “how to give car on rent to companies”.

There are multitudinous options before you to attach your car on rent.

You can attach your car with Ola/ Uber. These two are the largest cab service provider with 3, 50,000 drivers attached alone to Ola. There is transparency in payment mechanism. These are completely reliable and secured companies. There services are available in more than 150 cities with around more than 6 lacs cabs presence on the road. That’s the reason why I want to give my car on rent in companies like Ola and Uber.

You can also rent your car to companies on monthly basis. There are many benefits of it. This ensures fixed amount every month. Also, you can take back your car whenever you wish where as in long term contacts you will not be able to get the car back as per your wish.

Renting out your car to travel agency for outstation tours is also a better choice. Outstation trips are long trips; this will engage your car in service for a longer period. This is beneficial because travel agency make payment depending upon the number of rides it takes.