Car sharing and self drive platform Mylescars has introduced its news service format ‘Loss Damage Waiver’ which leads to no security deposit. This, along with the already available unlimited kilometres, is said to make renting cars easier.
The low cost of entry, starting from INR 100 per day paid towards ‘Loss Damage Waiver’ depending on the choice of the car model with no security deposit, is aimed at promoting affordability. Further, Mylescars has reduced the age limit of entry for aspiring customers from 23 to 21 years, making the services accessible to a wider customer base, including the youth. The net effect of this is expected to translate into 25 to 35 per cent increase in bookings.
Sakshi Vij, founder and CEO, explained, “Mylescars is driven by its vision and commitment towards enhancing customer experience with evolving product concepts, building new avenues of addressing different customer segments. We deliver convenience, reliability, transparency and customer protection in every transaction. Most importantly, the other aspect that we aim to address with ‘LDW’ format is the compelling reason to think before buying a car today. Shared economy is well poised to change the car ownership pattern and we are proud to be at the centre of this phenomena.”
“It also becomes crucial as the realisation dawns among industry stakeholders that shared economy is the inevitable solution to the cities’ traffic woes and environmental impact, since it’s a proven fact from the experience of the developed markets that one car has the potential to replace 25 cars on the road. And we feel our initiative is a step in the right direction,” added Vij.
The service is available on all Myles’ cars across the company’s 21-city network. The company has also relaxed the maximum speed bar of 100 kmph to 120 kmph on highways and expressways.
