Dreamers Media & Advertising on Wednesday announced a new advertising model that will turn a car into a billboard and slash the burden of loan for the car owner.

Under the Pune-based advertising agency's new model the car owner will allow the company to use the vehicle's 40-60 per cent space to display advertisements.  In return, the company will share equated monthly instalments (EMIs) of car owners.

For the first three years, the EMIs will be paid by Dreamers Media & Advertising; while the vehicle's owner will repay the EMIs in the next two years, in addition to making a down-payment of 25 per cent at the time of purchasing the vehicle.

Announcing the new advertising model, Dreamers Media Chief Executive Sunis Mohamed said that it would allow companies to reach a wider target audience in the most interactive way.

Speaking on the topic, Sunis said, "The concept will enable brands to reach, in the most interactive manner, a wider target audience, and create a new communication medium in the OOH space, which is still at a very nascent stage."

However, the advertisement firm has attached some conditions with the offer.  The offer covers vehicles of value of only up to on-road price of Rs 6 lakh.  In addition, the vehicles must travel a minimum of 1,500 kilometers per month in metros and 1,000-1,200 kilometers in Tier-II cities of the country.