Call it what you want; leasing, subscription or whatever else but one thing’s for sure, the car-leasing sector locally has grown tremendously in the last couple of years. Seeing the success of multibrand short-term or flexi leasing programmes, nobody was surprised as carmakers themselves launched inhouse leasing plans.
Toyota, together with Lexus, are the latest to join that fold here after the likes of Renault and Volvo. The Toyota Kinto One car subscription service isn’t new regionally as neighbours Thailand and Indonesia were made privy to it earlier. Of course, Japan and parts of Europe have also been there and done that.
In a similar vein to other leasing services, Kinto One’s monthly installment is all-inclusive and fixed for the duration of the lease. That means the vehicle’s registration, insurance, road tax and scheduled maintenance as well as preventive maintenance costs are covered under the installment.
All-inclusive leasing services will have a monthly that’s more than just the repayment for a hire-purchase loan as the cost of consumables, maintenance, insurance and road tax already are factored in. This is also inclusive of a 24-hour emergency assistance service.
However, it’s worth noting that the minimum lease duration here is two years and the max being three years. Once the lease is up, simply toss the keys back to Toyota Malaysia with nary a worry in mind.
The website is already up and running so you can have a look here. Monthly installments start at RM1,678 for a three-year lease of the base Toyota Yaris 1.5J. Most of the bread-and-butter models in their portfolio are available. Of course, there's an initial upfront payment that's inclusive of the first month's installment, another month's installment as a deposit and stamp duty. Following that, it's just the monthly installment from the second month onwards.
You can lease a Vios, Avanza, Corolla Altis, Camry or Fortuner. As for the Lexus models, options are understandably limited to base variants of the ES, NX, UX and RX.