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 minimum 4 and Maximum 12 people interested in owning the same car in a 10 Km radius.

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.
  • There is no logo / branding of prorata on the car like a rental company.
  • 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).
  • Car Pickup & Drop by our driver.
  • Car Wash Before Every Reservation.
  • Car Parking Facility on Unused Days.
  • Managing reservations at Prorata app.
  • Insurance premium payment and claims.
  • Allocation of Challen, Fastag Usage, etc.
  • 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. You will get resale value as per your ownership.

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 Ticket Price(one time)and AMC Charges Per Ticket 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 have to pay a one time setup fee of INR 10,000 Per Ticket as a booking amount. Our Team will call you for the documentation, kyc and buying the car from the showroom. In case, our services are not live in your city for any car then you can join the waitlist by paying INR 99 (Non-Refundable) as waitlist processing fee. So that whenever we open booking you will get priority access.

The car will be delivered within 7 days of ticket amount payment.

You have to pay the ticket amount within 7 days of signing the legal documents. And you have to pay AMC charges within 7 days of car deployment.
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 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 will get bonus usage credit for the inconvenience caused by your co-owner and the co-owner who has caused the accident will be penalised by deducting the usage credit accordingly.

We do not encourage this behaviour. To justify this, An asset manager will be appointed who will do a thorough check of the car on every pickup and drop.

Co-owner pay for their respective usage of the fuel. It's a full tank to full tank policy meaning you will get the car full tank and you will have to return the car full tank.
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 min. 4 and max. 12 people willing to co-own a car with people residing in a 10 km radius.

After paying waitlist processing fee of INR 99. You have to wait till the booking is open for your car in your city. You will get notified when the booking will open. Booking Amount is INR 10,000 per ticket.

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.

After paying the booking amount our team will contact you for kyc and legal paperwork. After the legal paperwork you will get a proforma invoice from your nearest car dealer. You have to transfer your contribution (Ticket Price) to the dealer via LLP, the car will be deployed within 7 days.

Yes, the booking amount is 100% refundable, No Question ask refund policy. Also, if we are not able to form the community or the car is not available with the dealer. You can claim a refund via email with your details and bank account at care@proratacar.com to get the refund within 14 working days.

No, INR 99 is not refundable.

DREAM LIMITLESS!