Rohit Gulati drives an EMI-free car

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Dhanteras last year was a joyous occasion for Rohit Gulati, 34, a logistical executive with a coffee chain in New Delhi, that was the day when he traded in his Bajaj Chetak for a Maruti Eeco van, with a little help from a novel company called Emi Free Car, launched in the capital last year. With a modest income and limited savings, Gulati had always dreamt of purchasing a car which could accommodate his family of eight, but his fortunes only turned around after spotting a newspaper advertisement about a new car financing scheme. All he had to do was to drive it for 1,500 kilometres every month within Delhi and NCR and offer the body of the car - doors, bonnet, boot - for advertising. Emi Free Car would pay the monthly installments for his car for three years. Gulati was selected from among thousands of applicants to become Emi Free Car's first customer. Gulati made a down payment of Rs 1,58,000 for the Rs 4,58,000 car. The EMI of Rs 6,743 per month is footed by Emi Free Car.

One afternoon at his office, where he is a mini celebrity (having been in the news for his adventurous foray), Gulati tells us about his experience over chips and cola. "Every day, I'm in traffic during peak hours," he says. "When I stop at a red light, everybody takes at least one good look at the car. A few even approach me to ask about it."

Gulati has no qualms about being the centre of attention on the roads. "It's a good scheme though it comes with a few riders attached," he says and points out, for instance, that he hasn't driven to a nearby destination like Agra. The distance, he says, would not count for the stipulated 1,500 km of his agreement because it it not within Delhi and NCR . But he doesn't have too many complaints either. "The concept is great for middle-class people like me. I can use the money I save on EMIs for other household necessities such as paying for my child's education, medical bills and so on."

He has been lucky so far as the advertisements on the car are concerned. He has not had to contend with sniggering neighbours and incredulous passers-by. Currently, the company is using his car for its own brand promotion. Gulati may find it quite another story once his financier switches to advertising for products that range from movies and olive oil to deodorants, cooler and geysers. Brands working out tie-ups with Emi Free Car include Envy Deo, Balaji Telefilms, Vodafone, Reliance, T-Series, Modi Naturals and Hotstar Electricals.

"I'm happy with the ads that my car has to carry now," says Gulati. "But if tomorrow I am asked to carry something that I don't like, I'll probably feel bad about it. I have no choice in the matter."

At the end of the day, he reasons, the car serves its purpose which trumps what other people might have to say. "Even among my own friends who are doctors and lawyers, they don't wish to avail this kind of a scheme. A car is a status symbol for them, but for me it is so much more."

On the upside, after three years, once the vinyl sheet that protects the car's body from the advertisements are removed, the outer surface of the car will be brand new, he says with a grin. "

Having received six million enquiries and approved around 500 customers like Gulati, Emi Free Car and others of its ilk could end up helping the auto industry by wooing first-time, middle-income buyers who wouldn't otherwise have been able to afford a car.