Frequently Asked Questions
Categories
UNDERSTANDING PRORATA

Prorata is India’s first fractional car ownership platform that allows you to co-own your dream car by paying 8.33% of its total cost.

Prorata forms a group of 4-12 people interested in owning the same car from the same residential society. All you must do is, reserve the dates you need the car for on your Prorata app and take it for your leisure.

You will own the car fractionally. Prorata creates an LLP (Limited Liability Partnership), and you are an 8.33% partner of that LLP if you buy 1 ticket. And the car is purchased in the name of that LLP.

  • Firstly, it’s a newly bought white plate car from the showroom.
  • The quality of the car is higher because all the co-owners are using the car with an ownership mindset.
  • It’s highly convenient because it is parked in your residential society.
  • It’s five times cheaper than renting a car, even after including Prorata’s AMC (Annual Maintenance Charges).

We are the asset management technology platform managing all the hassle of car co-ownership seamlessly. Our services include-
  • Forming a group of 4-12 co-owners.
  • Formation and management of LLP (Limited Liability Partnership).
  • Daily car wash.
  • Car parking rent payment.
  • Managing reservations at Prorata app.
  • Insurance premium payment and claims.
  • Car service and maintenance at regular intervals.
  • Managing accidental issues.
  • Managing users to follow platform guidelines to ensure fair usage of the vehicle.
  • Sell & disburse the proceeds after 5 years.
PRICING

Our AMC (Annual Maintenance charges) starts from INR 15,000 per user per year. However, it depends on the car and its variant.

Your contract with us as an asset management company is for 5 years. After 5 years, we sell the car to the highest bidder either from the co-owners group or somebody from the outside. So, whatever investment you are making right now, you’ll receive 50%- 60% of it back. The money received from re-selling the car is distributed amongst all the co-users.

8.33% of the total cost of the asset is a one-time payment.

Road tax and insurance of the car are covered under a one-ticket price, which is 8.33% of the total cost of the car.

We do not provide any car loans or EMI as of now.

Its covered under your AMC (Annual Maintenance Charges). Prorata takes care of the regular service and maintenance of the car.

You have to pay One time asset price and AMC charges per year.

Your one ticket price includes- 8.33% of ex-showroom price + Year 1 Insurance + Road Tax & Registration + Service Package.

No, the sign-up fee, processing fee, one time setup cost and Annual Maintenance Charges are not refundable.
CAR DELIVERY

You can sign up for your desired car by paying ₹ 99 to get an early access and 50% discount on our AMC charges when we are live in your city/ society. Our customer service representative will get in touch with you when we are launching in your city.

The car will be delivered within 60 days of Formation of group in your residential society/locality (subject to availability).

Once we complete the group of 4-12 co-owners in your residential society is when you have to pay your share of asset cost. Once the car is delivered at your door step then you have to pay our yearly AMC charges.
REFER & EARN

You can earn 2000 Prorata Cash for each reference which converts into Prorata customer. This can be utilized to pay your AMC charges.

Your friends and family can be from any city/society.
CAR USAGE POLICY

We have an app where you can easily reserve the dates. An asset manager will also be appointed in each society to hand over the keys and check whether the car is in proper shape after each use or not.

You’ll get the car for 30 days in a year if you buy one ticket. The days are calculated following the simple math (365 days/ 12 tickets= 30 days + 5 days for any downtime or servicing of the car). If you have higher usage of the car, you can buy more tickets.

The platform allows equal usage of holidays/weekends amongst all users. Out of the 30 days, each user gets 10 days to use the car for holidays/weekends.

No! They can’t get transferred to the next year. But you can sell your remaining days to the other co-owners, who may need extra days to use the car. The platform will easily allow you to do the transaction between the users at no additional cost.

No! You can’t do that as of now. The Prorata system is built for the 22 hours usage only.

We do not encourage this behavior. To justify the right of every co-owner, we will deduct 4 days of usage credit as a penalty for bad behavior. Those 4 days usage credit will be transferred in your account as a reward.

You’ll either be provided with a standby car or extra days' usage credit as a reward from the person who has done the accident .

We do not encourage this behavior. To justify the An asset manager will be appointed in each residential society who will do a thorough check of the car after its individual use.

Co-owners pay for their respective usage of the fuel. It's a full-tank to full-tank policy. You pick the car up with a full tank and leave it with full tank after re-filling the remaining amount you have used while driving the car.
CHALLANS / ACCIDENTS / THEFTS

The Prorata platform allocate those challan to the respective co-owners account who was driving the car.

It will be covered by the insurance policy for maximum financial coverage. Any charges outside the insurance claim will have to be borne by the user who has done the accident. Also, to prevent such behaviors in the future, Prorata will penalize the user with their usage credit for the number of days the car is in service. And the days will be rewarded to the users who faced inconvenience because of the unavailability of the car.

It will be covered by the insurance policy.
SELLING/EXITING OF CONTRACT

Yes, you can sell to our waitlist customer. All you have to do is contact the Prorata team/app and we will do the needful.

The platform will calculate the depreciated value at the time you’ll be leaving the contract. However, the final negotiation will be between the buyer and the seller.

Prorata will charge INR 10,000 for processing the paper work.
COMMUNITY

The community represents people either living in a residential society, co-working space, or tech parks. For people that are living in individual houses, community represents co-owning a car with people residing in a 5 km radius.

After you have signed up and paid ₹99, now it's time to make your community profile LIVE.

  1. Go to community section of the app > Fill your details > Choose the car > Choose the location > Make the profile LIVE.
  2. Create the group for the car you want to co-own or join the existing groups.
  3. Once your profile is LIVE, We do the digital marketing campaign in your location to complete the group.
  4. Also, you can refer your friends / family / neighbours from the society / locality or your colleague from your workplace to fill the group faster.
As soon as, the 12 tickets for the car fill up. Our sales team then arranges a test drive for all the group members and places the order for the car.

After you make your community profile LIVE, it takes us 1-3 months to complete the group for your desired car. However, if you want the car to be delivered faster, you can start referring friends or family from your society/ locality through the app. You get 2000 Prorata Cash for each reference that can later be used to pay the AMC charges.

Email us at care@proratacar.com with a request for a callback and we'll help you build your community.

With each car, 12 tickets are sold. One person can buy up to 3 tickets, so the minimum number of people co-owning a car is 4 and the maximum is 12.

DREAM LIMITLESS!