Frequently Asked Questions

The contract is entered into between the leasing company (Lessor) and the Corporate (lessee) to provide vehicles for a predetermined term for use by lessee or its employee. The leasing company is the legal owner of vehicle and passes on the right of use of the car to the Lessee for the duration of contract.

Upon expiry of lease period, the vehicle is returned back to the leasing company and the lessee does not have the option to buy the vehicle. Duration of the contract is from 3 to 5 years from date of its first purchase and not beyond 5 years.

Lessor procures the vehicle as per specifications provided by lessee and delivers the same to the lessee for the pre-decided tenure (from 3 to 5 years, not exceeding 5 years in any case) on lease along with fleet management services taking away all the hassles of managing:

• Comprehensive maintenance
• Insurance renewal
• Damage repairs & insurance claims
• Replacement vehicle
• Pick up & drop services
• 24*7 emergency road side assistance

The Lessor charges a fixed lease rental to be paid monthly for a worry free driving experience during the term.

For the Employee:

• Expert advice for selection of vehicle and arrangement of test drive on call
• Best deal and discounts
• Hassle free experience
• Tax savings as lease rentals paid through pre-tax component of salary

The value of the car at the end of the tenure is known as Residual Value. The lease rentals are calculated in such a way that the employee pays only for the usage of the vehicle and not the residual value.

It is determined depending on risk profile of asset, the kilometers and several factors that have an impact on it.

In case the vehicle is stolen or is declared total loss, complete documents along with FIR and No Trace Certificate has to be obtained and provided to TRISTAR.

In valid claims, the contract will be terminated on the payment of the difference of the Book Value and amount paid by the insurance company.

If the employee is joining another company, lease rental can be transferred to the new company subject to TRISTAR and the new employer agree to get in to an agreement.

However, if this is not possible, the contract can be closed as per the terms agreed. Alternatively, the same can be passed on for use to any employee in the same company. Or any employee is eligible to buy the car at the fair market value at the discretion of the leasing company.

Let us take into consideration both these scenarios:

EMI paid against bank loan: the consumer pays 100% of the loan amount over the agreed tenure of 3,4 or5 years and at the end of the tenure you usually sells the car at current market value; hence the consumer pays for 100% of the car i.e. greater cash outflow due to higher EMI and also bears the risk of fluctuation in residual value resulting from model discontinuation/accidents etc.

Under leasing: instead of waiting for 3 to 5 years to sell the car the estimated market value of the car is deducted from the loan amount upfront and you pay EMI only on the net cost - this results in much lower EMI and you also avoid the risk of fluctuation in residual value, being a risk that is underwritten by the leasing company.

FMS is associated with the following services:

• Maintenance: Scheduled, unscheduled and running repairs.
• Door to door: pick up and drop facility for services and repairs.
• Emergency services: 24/7 emergency roadside break down assistance.
• Insurance: Full coverage in case of an accident.

Any city of your choice in India.

Yes, you have an option to buy the car at the end of lease tenure.

You will need identity and address proof (PAN, passport, masked Aadhaar, and utility bill), income proof and a valid driving license.

For a rental apartment: a registered rental agreement (between user and owner) and a utility bill of current address, along with any one document for a permanent address (a voter ID, passport or driving license).

Post-booking, after payment of the refundable security deposit, we procure the car, get it registered, pay all the taxes, get the insurance cover added, and deliver it to you, depending on the availability of the car at the manufacturer's end.

• Zero-down payment
• One monthly fee which includes insurance (comprehensive, zero depreciation and consumables with zero deductible for across lease tenure), registration, scheduled and unscheduled maintenance (including tyres, batteries and engine-related issues)
• We also offer a replacement vehicle as an add-on service and roadside assistance
• Choice of tenure (2/3/4/5 years)
• Expert advice to help you select a car and book a test drive
• Option to return, buy, or upgrade the car at the end of the lease tenure
• Tax benefits
• A hassle-free driving experience

Unlike the self-drive car rentals you are used to, Tristar offers you a brand-new car that comes with a white number plate and a RC in your name. You are the 1st owner of the car.

You can choose from a tenure of 2/3/4/5 years, after which you can return it, choose to buy it out or even upgrade to a better model that is more in line with your lifestyle at that point. You are driving a new car without the hassles, responsibilities and costs.

Tristar offers you Fleet Management Services which includes:

• Scheduled and unscheduled maintenance (including tyres, batteries and engine-related issues)
• Vehicle Insurance (comprehensive, zero depreciation and consumables with zero deductible for across lease tenure)
• Pick-up and drop-off of the car (during service maintenance or breakdown)