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Home >Auto News >Ola Electric Scooter sale now open. From EMI to buying process, all you need to know

Ola Electric has opened the sale of its Ola S1and Ola S1 Pro scooters. Only those buyers will be able to go through with the buying process who have pre-booked the scooter. The buying process can be completed on the Ola app. The booking is still open for new buyers at 499.

If the buyer has reserved the scooter they will be notified when their purchase window opens via an email, SMS and push notification. 

Ola Scooter buyers will be able to purchase their new scooter by either paying the advance amount or by availing vehicle finance options provided in partnership with multiple banks.

The advance amount to be paid for the Ola S1 is 20,000, and for the Ola S1 Pro is 25,000.

When will the rest of the amount be taken?

The buyer will be notified via the Ola app/registered email/registered mobile number. When notified, they will be prompted to pay the balance amount prior to the shipping of the Ola Scooter from the Ola Futurefactory.

Financing

Ola has claimed that it will provide financing options from various popular banks which includes HDFC Bank, ICICI Bank, Bank of Baroda, Axis Bank, Kotak Mahindra Prime, TATA Capital, YES Bank, IDFC First Bank, IndusInd Bank, AU Small Finance Bank and Jana Small Finance Bank. 

Additionally, HDFC Bank will also provide pre-approved loans for certain buyers. The process can be completed in minutes, according to Ola Electric. Tata Capital and IDFC First Bank will also provide instant loans by processing digital KYC to eligible customers. 

EMIs for the Ola S1 starts at 2,999 whereas the EMIs for Ola S1 Pro starts at 3,199. 

Insurance

In case you opt for financing, it is mandatory to purchase insurance through Ola as it is a component of the on-road price. 

Insurance is mandatory for your vehicle's registration. You can also choose to buy insurance from outside. In this case, you will have to upload the insurance policy on the Ola app when the registration process starts (before delivery).

Buying process

Ola has clearly mentioned that in order to sail through the buying process, the buyer will need to keep their PAN card, Aadhaar card,  Proof of delivery address (if it is different from the Aadhaar address) ready.

While making the advance payment, the estimated delivery month (Model-Variant-Pin Code combination) will be communicated to you.

Ola has also promised to communicate the exact date of delivery on dispatch of the buyer's Ola Scooter from the Ola Futurefactory.

Ola Scooter prices

The ex-showroom price of the Ola S1 is 99,999 and the Ola S1 Pro is 129,999. These prices include FAME II subsidy, GST and optional accessories. Accessories include - a home charger for the Ola S1 and Ola S1 Pro. This price is exclusive of State subsidy, registration charges, road tax, vehicle insurance charges and helmet charges.

Test Drive

Ola has promised that test rides in major cities will begin from 15 Oct 2021. Specific dates for different cities will be published soon. 

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