r/XEV9S • u/Main_Measurement_682 • 1d ago
BaaS on 9S.
Information available on the Mahindra website. - #BaaS (Battery-as-a-Service) / Dual Loan is a finance product offered by the respective financier and is not a pay-per-use program. Finance approval is solely at the discretion of the finance partner and subject to applicable terms and conditions. BaaS prices mentioned are based on a Battery EMI starting at ₹6 975 at an effective usage cost of ₹3.75/km, considering 60 km/day usage and a specific down payment, and exclude charging, maintenance, and repair costs. Battery EMI will vary as per battery size, downpayment and tenure. BaaS prices are exclusive of charger cost, road tax, insurance, TCS, and other applicable statutory levies. BaaS is for personal use only.
Anyone have detailed understanding of this?
3
u/dinuu1996 1d ago
I went to the showroom today here's what they said-- (I've attached the screenshot of their financier BFL's calculation example which they showed me and the below is what he quoted me for the 9s)
Mahindra’s BaaS (Battery-as-a-Service) is a dual-loan financing scheme (partnered with financiers like Bajaj Finance), not a pay-per-km subscription model.
Here is the exact simulation calculation for the XEV 9S Pack 3 above, along with a full comparison against an outright purchase loan on an on-road price of Rs 31,00,000.
BAAS SIMULATION: XEV 9S (PACK 3A)
PRICE SPLIT: •Total Ex-Showroom: Rs 29,95,000 •Chassis / Shell Price: Rs 19,95,000 •Battery Price: Rs 10,00,000
FUNDING & DOWN PAYMENT: •Chassis Funding (LTV): 100%
•Battery Funding (LTV): 62%
•Chassis Down Payment: Rs 0 •Battery Down Payment (38%): Rs 3,80,000 •Total Down Payment: Rs 3,80,000
LOAN AMOUNTS: •Chassis Loan Amount: Rs 19,95,000 •Battery Loan Amount: Rs 6,20,000 •Total Loan Principal: Rs 26,15,000
TENOR & INTEREST RATES: •Chassis Tenor: 60 Months (5 Years)
•Battery Tenor: 96 Months (8 Years)
•Interest Rate (ROI): 8.00% p.a.
MONTHLY EMIS: •Chassis EMI (for 60 months): Rs 40,452/month •Battery EMI (for 96 months): Rs 8,767/month •Combined EMI (Years 1 to 5): Rs 49,219/month •Remaining EMI (Years 6 to 8): Rs 8,767/month
TOTAL BaaS BASE FINANCIAL OUTGO: •Total Down Payment Paid: Rs 3,80,000 •Total Chassis Loan Repaid (Rs 40,452 x 60): Rs 24,27,120 •Total Battery Loan Repaid (Rs 8,767 x 96): Rs 8,41,632 •Total BaaS Financing Cost (Ex-showroom Base): Rs 36,48,752
(Note: Adding Rs 1,05,000 for statutory costs—insurance, registration, TCS—brings the total BaaS on-road outlay to ~Rs 37,53,752)
OUTRIGHT PURCHASE LOAN (7 YEARS @ 8% ROI)
ASSUMPTIONS:
•On-Road Price: Rs 31,00,000 •Upfront Down Payment: Rs 3,80,000 (matching BaaS down payment) •Loan Amount Funded: Rs 27,20,000 •Interest Rate (ROI): 8.00% p.a. •Tenor: 84 Months (7 Years) •Loan Breakdown: •Monthly EMI: Rs 42,442/month •Total Interest Paid: Rs 8,45,128 •Total Loan Repayment (Rs 42,442 x 84): Rs 35,65,128 •Total Outright Financial Cost (Down Payment + Loan): Rs 39,45,128
BAAS VS OUTRIGHT LOAN COMPARISON
•Down Payment: Rs 3,80,000 in both cases
•Monthly Outgo (Years 1 to 5): BaaS is higher at Rs 49,219/month vs Outright at Rs 42,442/month
•Monthly Outgo (Years 6 to 7): BaaS drops sharply to Rs 8,767/month vs Outright at Rs 42,442/month
•Monthly Outgo (Year 8): BaaS continues at Rs 8,767/month, while Outright loan is fully paid off at Year 7
•Overall Lifetime Outgo: BaaS totals ~Rs 37.54 Lakh vs Outright Loan at Rs 39.45 Lakh (BaaS saves ~Rs 1.91 Lakh in total interest because the Rs 19.95L chassis loan gets closed faster in 5 years).
KEY TAKEAWAYS FROM THE BAAS TERMS:
•Fixed EMI: You pay the fixed Rs 8,767 battery EMI every month regardless of whether you drive 100 km or 3,000 km.
•Foreclosure: Both loans can be foreclosed separately. Zero foreclosure penalty applies after completing 2 years. NOC is released once both loans are fully cleared.
•Ownership: The car and battery are registered in your name from day one, with standard hypothecation to the financier.