At Karmo, we understand the importance of keeping upfront costs to a minimum to provide you with an accessible and convenient subscription experience. However, please be aware that our car subscription service does involve some small upfront costs. These include:
Bond: A refundable bond from $500 is required to secure the subscription. This amount will be returned to you at the end of the subscription term, provided there are no outstanding charges or damages.
Holding Deposit: This amount is composed of your security deposit equivalent to a week's subscription, and an advance payment for your first week's pro-rata subscription. Your one week security deposit will be returned to you at the end of your subscription term provided there are no outstanding charges or damages owed.
What happens at the end of my subscription plan?
At the end of your subscription term, if there are no further bookings, we will calculate your refund by deducting any incurred fees or charges from your bond and security payment. Incurred fees and charges may include excess kilometres, damage, cleaning, fuel, missed payments or administration fees. This process ensures that your account balance is settled when returning your vehicle.
What happens if I am switching to a new vehicle plan?
If you are switching to a new vehicle subscription plan with Karmo, your remaining bond and security deposit will be seamlessly transferred over to your new plan, and your payments proceed as usual.
If you have any further questions regarding the upfront costs or any other aspect of our car subscription service, please feel free to contact our customer support team.