Quiklyz

About Quiklyz

Quiklyz is a car subscription service powered by Mahindra Finance. The service is available in cities across India and looks like a hybrid of leasing and subscribing, with contracts of between 24 and 60 months, but with the ability to upgrade, and insurance included. The subscription service includes a white number plate, RC in your name, and a new vehicle with maintenance included. There is no downpayment, and your eligibility is confirmed by uploading a few documents before you get started.

How it works

The Quiklyz four-step process starts with choosing a vehicle. Quiklyz offers a range of over 50 vehicles, most of which are new and can therefore be customised in terms of colour. The vehicles are also listed by lead time. Once you have chosen your vehicle, you upload the required documents to confirm your eligibility, and pay the refundable security deposit. You can then check on the progress of your order in your Quiklyz online account as you wait for the car to be delivered.

Costs and fees

There is no downpayment, but there is a (variable) refundable security deposit, which will only be deducted to cover accidents or damage not covered by insurance. Subscription prices start from around 15,000 INR per month and taxes and insurance, but excludes fuel, tolls, and inter-state entry taxes. You can choose 10,000, 15,000 or 20,000km plans, but will pay a per-kilometre charge at the end of your tenure if you exceed this. Finally, you can cancel your subscription early (after the lock-in period), but there will be a foreclosure charge if you do so before the end of the agreed tenure.

Brands and models

Quiklyz offers a range of vehicles to suit all budgets, with several recognised brands included:

• Audi
• Hyundai
• Jeep
• MG
• Maruti Suzuki
• Renault
• Tata
• Volkswagen
• Honda
• Jaguar
• Kia
• Mahindra
• Mercedes-Benz
• Skoda
• Toyota

There are automatic and manual vehicles available, and several electric car options, including the Jaguar I-Pace and the Mercedes-Benz EQC.

Notice periods

When you sign up, there will be a lock-in period. After that, you can cancel at any time at short notice, but you will be charged a foreclosure fee if this is before the end of the agreed tenure.

What’s Special about Quiklyz?

Quiklyz has a good range of vehicles at most price points, and covers more of India than many of its competitors. By offering new vehicles and allowing customers to choose the colour of the car, they are introducing a point of difference, and the fact that the cars are White Plate adds an extra personal touch. Quiklyz also offer several electric vehicles, and the chance to buy your vehicle if you decide you don’t want to part with it at the end of your tenure.

Videos

Social media

Quiklyz uses Facebook to run competitions and for promotional material.

FAQs

Why would I need a Quiklyz subscription?
If you want to use a vehicle without a large initial payment, then a subscription is right for you. It may also be the case that you only use a vehicle occasionally, and do not therefore need to own or lease one.

How does Mahindra Finance work with Quiklyz?
Quiklyz gets access to their dealers and service providers, as well as expanding their reach across India and using the Mahindra online platform.

Is there a penalty for late payment?
Yes. If you miss a payment, you will be charged 2% of the payment amount on top.

Can I subscribe to a used car?
This will be available in the future. Currently, though, all Quiklyz vehicles are new.

Can I modify the vehicle?
No. You can add OEM approved accessories, but modifications are not allowed.

Conclusion

The Quiklyz subscription model looks similar to a lease in that its tenures are long, and there are charges associated with ending an agreed tenure early. However, insurance is included and there is no down-payment required, so the main benefit of subscriptions – an affordable entry point – very much applies. There are many vehicles to choose from, and the service coverage includes several areas of India in which some of their competitors do not operate, making the potential customer base quite large.