Published on July 29th, 2019 | by Subhash Nair0
Renault Subscription Now Available in Malaysia
Malaysians can now ‘subscribe’ to their cars instead of owning one through the conventional hire purchase scheme with Renault Subscription.
With the Fixed Plan, you have to choose which vehicle you want upfront and stick with it for either 1 or two years.
The B-segment Renault Captur starts at just RM1,299 a month for a 2 year tenure. This is less than what you’d be expected to pay monthly on a 7-year-long 90% loan.
A reasonable 20,000km/year mileage cap applies for this plan. All costs (road tax, insurance, scheduled maintenance) is covered in the plan except for wear and tear items like the brakes, tyres and dampers.
If there are times where you think you might need something bigger, the Switch Plan gives you a little more flexibility. 2-4 months out of your year can be spent in the larger, more premium Renault Koleos. The Switch plan also covers ALL maintenance costs including wear and tear items.
Here’s the press release with more information.
For the first time in Malaysia, consumers can enjoy a new form of mobility with the introduction of ‘Renault Subscription’. Offering freedom and flexibility, ‘Renault Subscription’ allows customers to break away from long-term loan tenures, rigid lock-ins and concerns about vehicle depreciation costs for as low as RM43 per day.
Both of the core Renault models are available – the versatile Renault Captur lifestyle crossover and the premium flagship Renault Koleos D-segment SUV.
‘Renault Subscription’ offers customers a choice of two plans – Fixed and Switch.
Customers who opt for the more structured Fixed Plan can enjoy the Captur from as low as RM1,299 a month and the Koleos from RM2,299 a month.
Alternatively, customers can choose to go with the highly flexible Switch Plan. A first in Malaysia, the ‘Renault Subscription’ Switch Plan offers ultimate freedom with no lock-in, providing more value-add that consumers are looking for. Under this plan, subscribers can conveniently switch between both Renault models, for as low as RM1,999 per month, depending on their needs.
As a first in the market, the closest comparison for ‘Renault Subscription’ would have to be traditional leasing. However, ‘Renault Subscription’ is different from traditional leasing schemes in offering the following benefits:
- No long-term and expensive fixed terms
- Highly competitive rates and flexibility to encourage customers to try out different Renault models
- Freedom to switch between different Renault models for durations of customer’s choosing, with no lock-ins or penalties (via Switch Plan)
- 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
Depending on the plan selected, there will be a security deposit of RM2,500 or RM3,500, which is refundable.
For a limited time only, customers who subscribe will receive a one-month free subscription for the Fixed two-year plan.
The table below details the two plans available under ‘Renault Subscription’ – Fixed and Switch:
Why Renault Subscription makes sense?
In today’s landscape of changing consumer behaviour, many people are not looking for long term commitments. ‘Renault Subscription’ offers customers a unique solution to these concerns while offering them the opportunity to drive a technologically-advanced and stylish Continental model, without high upfront costs of down payments and interest rates.
At just one low monthly fee, the subscription model also reduces the possibility of ‘surprise costs’ that may come about from owning and maintaining a vehicle.
Additionally, consumers are now able to have the freedom of changing to a brand-new model every two to three years, depending on their subscription preference.
For more information about Renault in Malaysia and ‘Renault Subscription’, please visit www.renault.com.my or contact 1800-18-8663 (Monday – Saturday, 8:00 am – 5:30 pm, excluding public holidays).