Rs 2 lakh Off on Hyundai Creta, Details Inside
Hyundai Creta is the new hottest product in the SUV segment. Which the manufacturer is offering no discount on the SUV, we have found a way to save a minimum of Rs 2 lakh when you purchase the SUV. Well, the answer is simple, ‘Car Scrapping’. Owning an old car that is at the end of its life cycle and scrapping it to buy a new car could be beneficial, here are all the details about the Scrappage policy.
Benefits of Car Scrapping
Priced between Rs 13.04 lakh to Rs 24.36 lakh (on-road, Mumbai), the Hyundai Creta is one of the most feature-rich and value-for-money offering in its segment. For March/April 2024, the company is not offering any discount on the model. But customers can avail a minimum of Rs 2 lakh off on the SUV by scrapping their old car. Here is the complete breakdown:
Discount of 4-6 percent of new vehicle cost:
The base model of the 2024 Hyundai Creta is priced at Rs 10.99 lakh (ex-showroom). Considering a 5-percent discount, customers can avail benefits of up to Rs 55,000.
Up to 25 percent concession on road tax of the new vehicle:
Based on the state of registration, customers can also get a cash discount of up to Rs 1 lakh on road tax when they purchase the Creta E model. Besides, the government is also offering a registration fee waiver worth Rs 3,000 for buyers who submit the certificate of destruction.
Up to 5 percent manufacturer discount:
In addition, the government has also appealed to the manufacturers to offer a 5-percent discount (or Rs 55,000 in this case) to promote car scrapping.
Adding all the above-mentioned subsidies, any customer with a 15-year-old car planning to upgrade to a new Hyundai Creta can save up to Rs 2 lakh on the total price.
What is the ‘Vehicle Scrappage Policy’?
Introduced in 2021, the Government of India’s ‘Vehicle Scrappage Policy’ aims to remove old and unfit vehicles from Indian roads and replace them with new and more modern vehicles. The primary goal of the policy is to phase out polluting vehicles and reduce the overall carbon footprint of the transportation sector.
To determine the end-of-life of a vehicle, the government has mandated fitness tests of all commercial and private vehicles over 15 years old. If the vehicle fails the fitness test, then it will be eligible for scrapping.
Also read – Tesla’s Path To India Almost Clear
Scrappage policy – Process of Car Scrapping
Once an old car has been deemed unfit for Indian roads, the owner can reach out to government-authorised scrapping/recycling centres to book an appointment. Post booking an appointment, customers will have to complete the documentation process by submitting
• Copy of PAN card
• Aadhar
• Address proof of the owner
• Original RC of the vehicle
• End-of-Life Vehicle certificate issued by the automated testing station
• Cancelled cheque and
• Digital photograph of the owner with the vehicle
Post the document approval, the scrap yard will separate non-metal components like tyres, batteries, fluids (coolant, engine oil, AC refrigerant and more), fuel tank, exhaust and any CNG cylinder from the vehicle. Post that the car is dismantled until only the body shell remains. Before crushing the body shell, the recycler will cut the VIN (Vehicle Identification Number) plate and hand it over to the owner.
Once the car is scrapped, the yard/ the scrapping centre will issue a ‘certificate of destruction’ which can be used to de-register the car at the RTO. In addition to the above-mentioned benefits, the value of the scrap metal will be transferred to the owner through a cheque or digital medium.
Note: The above content is for informational purposes only. For exact offer details consult with an expert before deciding. MotorOctane is in no way liable for any change in government policy and decision taken on the above information.
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