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Mylescars announces an industry-first move: “No Security Deposit” & Unlimited Kms to make Self-drive Affordable


Mylescars, a robust and cost-effective car sharing and self-driving solution, has made renting a self-drive car more accessible and affordable with the introduction of globally available Self Drive solutions to Indian customers. “Loss Damage Waiver” which leads to no Security Deposit and the already available unlimited Kilometres, will make renting cars far more easier in India. The new service format from Mylescars gives a new meaning to its brand promise of extending ‘Peace of Mind’ as the company makes it easy and hassle free for aspiring customers to be at the wheels of their favourite cars.

With the low cost of entry, starting from Rs. 100/ day paid towards ‘Loss Damage Waiver’ depending on the choice of the car model with no security deposit, makes luxury in the self-drive segment affordable. Further, Mylescars has reduced the age limit of entry for aspiring customers from 23 to 21 years making the services accessible to a wider customer base, including the college going youth. The net effect of this will translate in to atleast 25% to 35% increase in bookings/customer numbers. This would also make it easier for customers to think about renting cars as often as possible without worrying about refunds or blocks on cards.

Speaking on the industry firsts that Mylescars is often credited with and the launch of ‘Loss-Damage Waiver’,Sakshi Vij, Founder & CEO, explained, “Mylescars is driven by its vision and commitment towards enhancing customer experience with evolving product concepts, building new avenues of addressing different customer segments. We deliver convenience, reliability, transparency and customer protection in every transaction. Most importantly, the other aspect that we aim to address with ‘LDW’ format is, the compelling reason to think before buying a car today. Shared Economy is well poised to change the car-ownership pattern and we are proud to be at the centre of this phenomena.”

“It also becomes crucial as the realisation dawns among industry stakeholders that Shared Economy is the inevitable solution to the Cities’ traffic woes and environmental impact, since it’s a proven fact from the experience of the developed markets that one car has the potential to replace 25 cars on the road. And we feel our initiative is a step in the right direction” added Sakshi.

This innovation is exclusively available on all Myles’ cars to potential travellers/customers across the company’s 21-city network to rent cars whenever and to wherever, all year round. Myles’ customers can continue to avail the services without worrying about refunds of security deposits or blocking amounts on their credit and debit cards. Also, the company has relaxed the maximum speed bar of 100 km per hour to 120 km per hour on highways and expressways. Besides, the feature of ‘unlimited kilometres of driving’ help customers to save on travel cost as there are no extra charges for any specified distances or beyond.


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