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Revolt electric motorcycle RV400 – What happens if you fail to pay EMI?

Revolt Intellicorp not only introduced the country’s first set of electric commuter motorcycles but also came up with a unique retail plan dubbed as MRP (My Revolt Plan). MRP is aimed at making the motorcycle very accessible across the socioeconomic divisions.

For starters, MRP is neither a lease or rental plan but it is sort of an EMI scheme inclusive of maintenance and consumable (tyres for example) costs. It is to be noted that the Revolt RV300 and RV400 can only be bought through MRP without any down payment.

As of now, one can’t purchase these motorcycles by paying the full amount upfront but the founder has hinted that things may change in the future based on customer feedback.

As per MRP, the EMIs for RV300, RV400 base and RV400 premium stand at INR 2,999 and 3,499 and 3,999 respectively for a period of 37 months. The company may reserve its right to decide on eligibility of customers based on their financial viability but if an owner fails to pay the installment, Revolt will follow the government regulations to recover the vehicle.

As per the government regulations, the customer needs to be given first notice within a month of failure to pay the installment and then follow it up with second notice at a later stage before proceeding with impounding formalities. Revolt’s founder Rahul Sharma says that the company will have several conversations with the customer to sort out the payment situation before deciding to impound the vehicle.

If a Revolt owner is unable to continue with the monthly payments, it is possible to approach the company and ask for the contract to be dissolved after some formalities.

Though this unique ownership plan requires the OEM to have ample liquidity, it is an attractive proposition for the consumers. Rival OEMs, both established and new to the mobility scene, would be closely monitoring response from the customers to Revolt’s MRP.

As of now, Revolt electric motorcycles are available only in New Delhi and Pune but the company is working towards expanding its coverage to other important cities in near future. Initial demand has been good. Revolt electric motorcycles are sold out till Nov 2019. A premium electric Cafe Racer has also been teased for launch next.

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