Vehicle leasing is still relatively new in Malaysia but the system is quickly gaining popularity with the notion of being burdened by a car loan for up to nine years proving to be a moot point with ride-sharing entering the picture.
Now, Renault Malaysia has jumped on the train with Renault Subscription that introduces both its core models; the Captur and Koleos, into plans that stretch two a maximum of two years. The carmaker though stresses that this isn’t traditional leasing as it allows some flexibility in the “subscription.”
There are two types of plans available for customers; Fixed and Switch. As the name suggest, the Fixed is structured and locked in for the tenure with monthly rates starting at RM1,299 for the two-year plan and RM2,299 for the Koleos for the same tenure.
The Switch plan is a Malaysian first with no lock-in. Customers can switch between both models starting from RM1,999 a month. This plan however allows a switch to the Koleos for a period of two or four months during the one-year tenure with the main model being the Captur.
Depending on the plan selected, there will be a security deposit of RM2,500 or RM3,500, which is refundable at the end of the plan. Depending on the plan, there’s a cap on annual mileage of 20,000km a year for the Fixed but Switch users get unlimited mileage.
Like most leasing plans, Renault Subscription covers road tax, insurance and scheduled maintenance. Furthermore, there’s the added bonus of zero down payment and no interest rates.
How Renault Subscription differs from traditional leasing is:
- No long-term and expensive fixed terms
- Flexibility to encourage customers to try out different Renault models
- Freedom to switch between models for durations of customer’s choosing with no lock-ins or penalties (Switch)
- All-inclusive costs and peace-of-mind knowing that road tax, insurance and regular maintenance is covered in the package. Switch subscribers are also covered for wear and tear with unlimited mileage, while an annual mileage cap of 20,000 km will apply to customers under the Fixed Plan
- Additional savings with zero down payment and no interest rates commonly associated with hire purchase loans
For a limited time only, customers who subscribe will receive a one-month free subscription for the Fixed two-year plan. More information is available at visit www.renault.com.my or by calling 1800-18-8663 (Monday – Saturday, 8:00am-5:30pm, excluding public holidays).