General FAQs
Are there any additional charges that I should be aware of with the car subscription service?
In a car subscription service, there are some additional costs that may be charged which are dependent on your usage of the vehicle. These include fees for failed payments, fine management, tolls management, excess mileage, damage excess reduction, driver risk premium in the event of an at-fault accident and cleaning or fuel charges. It’s important to review the terms and conditions of your subscription plan carefully to understand these potential charges.
Are there upfront costs required for a car subscription?
At Karmo, we understand the importance of keeping upfront costs to a minimum however, please be aware that our car subscription service does involve some small upfront costs. These include:
- Bond: A refundable bond of $500 – $1500 is required depending on the price of your car 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.
- Security Payment: This amount is composed of your security deposit equivalent to two weeks of subscription, and an advance payment for your first week’s pro-rata subscription. Your two week security deposit will be returned to you at the end of your subscription term provided there are no outstanding charges or damages owed.
Can I add an additional driver to my Karmo car subscription plan?
Yes, it is possible to add up to two additional drivers to your car subscription, provided they meet the eligibility criteria. An additional fee of $15.00 per week per driver will apply.
Can I add kilometres onto my subscription plan?
Yes, there are options on some vehicles that may be possible. When applying please comment on how many kilometres you think you will require so we can discuss your subscription plan options.
Do I need to pay for servicing and maintenance of the vehicle during my car subscription?
One of the key benefits of our car subscription plan is the inclusion of all normal running costs, including servicing and maintenance. We take care of these expenses so that you can enjoy a hassle-free experience throughout your subscription period. Our goal is to provide you with a convenient and worry-free driving experience.
Does Karmo perform a credit check for a car subscription application?
We do not require a traditional credit check as part of our application process. Instead, we focus on assessing your ability to pay for the service.
To ensure we can make an informed decision and tailor our offer to your specific needs, we kindly request that you provide us with a copy of your pay slip and a copy of your bank statement as part of the application process. These documents help us evaluate your financial capability to meet the payment requirements of the service.
We value your privacy and treat all personal information with the utmost confidentiality. Rest assured that any documents you provide will be handled securely and used solely for the purpose of assessing your eligibility for our service.
How am I charged for my Karmo car subscription plan?
To streamline the payment process and ensure convenience, all payments for our car subscription service are charged directly to the credit card that you have allocated. This allows for automated and hassle-free transactions, eliminating the need for manual payments or invoices.
How many kilometres can I drive on a subscription plan?
At Karmo, we want to ensure you have a smooth and hassle-free experience with our car subscription plans. To make it easier for you, we provide a generous kilometre allowance of 385 km per week. That’s over 20,000km if you were to subscribe for a year, and you can drive worry-free within this limit.
In the case that you exceed this amount, you will be charged an excess mileage fee at a rate of 30 cents per kilometre over your allowance. The kilometres are averaged over the period of your contract, so if you exceed 385km in one week, but under utilise the allowance the next week, it may balance out.
If we notice that you consistently exceed the kilometre allowance by more than 20%, we may need to discuss this with you. In such cases, we may request the vehicle to be returned or initiate a contract renegotiation to find a solution that better fits your needs.
How much does the Karmo Care Damage Excess Reduction Fee cost for the car subscription service?
We value your need for flexibility and choices when it comes to determining your coverage in case of an accident, that’s why we offer the Karmo Care Damage Excess Reduction Fee. This fee provides you with the opportunity to customise your level of cover, giving you greater control and peace of mind.
This is an optional fee, added to your weekly subscription, which can give you greater peace of mind knowing that your financial responsibility will be reduced.
If I have been declined for finance on a loan can I still subscribe to a car?
At Karmo, we believe in providing flexible and innovative driving solutions to cater to various needs, even if you may not meet the criteria required by traditional lenders. With Karmo’s subscription options, you may still have the opportunity to subscribe to a car and enjoy the benefits of driving without the constraints of traditional financing.
Is fuel or charging included in a Karmo car subscription plan?
Fuel and charging expenses remain the responsibility of the subscriber. This means that you will need to bear the costs associated with refuelling or charging the vehicle during your subscription period.
Is there a premium charged if I am found at fault for an accident?
At Karmo, we understand that accidents can happen, and we strive to provide transparent information about our policies.
In the unfortunate event that you are found to be at fault in an accident, you will be subject to a Driver Risk Premium fee. This fee amounts to an additional $15 per week and is charged for a period of 12 months from the date of the incident claim. We want to ensure you have all the necessary details regarding this premium.
What happens if I am in an accident, or my vehicle breaks down?
In the unfortunate event of an accident or breakdown while using your subscription car;
Step 1: Call 000 if it is an emergency
Step 2: Fill in a Karmo Damage Report
If you’ve been involved in a car accident or have experienced minor damage to a Karmo vehicle, you’re in the right place. We understand how stressful these situations can be, and we’re here to help. To report your car accident or minor damage, simply fill in the Recoversure Claims form.
In the event you have been in a multi vehicle accident, please ensure you collect the third-parties details while on site of the accident, you will need these details to complete the form.
Information you need to provide
- Contact details
- Vehicle details and rego
- Insurance details
- Licence details (photo) of other drivers involved (name and address)
- If possible, please take notes/photos/video of the accident scene, cross streets, landmarks, the direction of travel and car damage, as this information will help you complete an insurance claim.
Once you provide us with the necessary details, our dedicated team will promptly assist you in resolving the issue. So rest assured that we’ll handle your report with utmost care and professionalism.
Step 3: Access Roadside Assistance
Contact 1300 388 044 to access 24/7 roadside assistance.
Getting into a new vehicle
A new vehicle can be arranged to continue your subscription plan within one day. However in some rare circumstances Karmo may refuse to renew your subscription plan if you are deemed too high of risk.
Damage Excess Fees
In the event of an accident a Damage Excess Fee may be payable by you, which will be refunded if you are cleared ‘not at fault’ by the insurance provider.
If you have been found to be ‘at fault’, a weekly At Risk Driver Fee will be charged on top of your weekly plan for a period of 12-months from the date of your incident claim. If you have another incident in this 12-month period, the 12-months will start again.
What is included in a Karmo car subscription plan?
At Karmo, we take pride in offering comprehensive car subscription plans that cover a number of services and expenses related to your vehicle. Our subscription plans include:
- Cost of the Car: The subscription fee covers the cost of the vehicle itself, allowing you to enjoy driving without the burden of car ownership.
- Registration Fees: We handle the registration fees associated with the vehicle, ensuring that it remains legally compliant throughout your subscription period.
- Roadside Assistance: Our car subscription plans include roadside assistance services, providing you with peace of mind in case of any unexpected breakdowns or emergencies on the road.
- Damage Cover: We provide damage coverage for the subscribed vehicle, safeguarding you against potential damage and accidents.
- Servicing and Maintenance: Servicing and maintenance of the vehicle are included in the subscription plan, ensuring its optimal performance and reliability.
By bundling these services and expenses together, we aim to offer a hassle-free car subscription experience.
What is the application process for a car subscription plan?
The subscription application process is quick and easy and the application can be completed online in under 10 minutes. Here are the steps:
- Start your application online by providing your contact information and selecting the type of car you are after and the duration for which you would like it.
- Get approved by providing your driver’s licence and completing the easy online affordability check.
- Once your application is approved, you will be contacted to confirm vehicle availability, pickup time and contract details.
- Collect your car and start enjoying it!
- When your subscription plan is coming up for renewal, we’ll reach out to arrange a new vehicle.
What is the eligibility criteria for car subscription?
To qualify for a car subscription, you need to meet the following requirements:
- Age: You must be over the age of 21
- Affordability Check: You need to provide evidence of your ability to cover the subscription costs.
- Valid Driving Licence: You must possess a valid and unrestricted driving licence (P2 and above).
- Driver Declaration: You are required to pass the driver declaration, which ensures compliance with our safety standards.
Who is covered by Karmo provided insurance in my subscription car?
To ensure compliance with our insurance policy, it’s important to note that coverage is limited to the person listed on the contract, as well as any additional drivers who are explicitly mentioned on the subscription agreement.
This means that only the primary subscriber and any additional drivers specifically listed on the contract will be covered by our insurance policy during the subscription period. It is essential to adhere to this requirement for the protection and safety of all parties involved.
Please remember that driving without the appropriate coverage may result in liability and potential financial risks. The safety and security of our subscribers remains a priority and we provide comprehensive insurance coverage as per our policy guidelines.
