Renault is now offering something called the ‘Renault Subscription’ vehicle financing packages for their customers here in Malaysia. Touted as offering freedom and flexibility, the ‘Renault Subscription’ allows customers flexible payment schemes for their new Renault, where they can break away from long-term loan tenures, rigid lock-ins as well as having less concerns about vehicle depreciation costs. The schemes are offered for the Renault Captur crossover and their premium Renault Koleos SUV. All for as low as RM43 per day.
From what that has been described, ‘Renault Subscription’ offers customers a choice of two plans, which are the Fixed and Switch. Those 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. If one opts for the Switch Plan, there is no lock in period which could be the key to customers opting for a Renault. With the Switch Plan, one can conveniently switch between both Renault models, for as low as RM1,999 per month, depending on their needs. This is the first time such a plan is offered by anyone in the market.
We shall try to describe what is the Renault Subscription here. Of course, best is to head over to a Renault showroom and ask the sales people there. But what it essentially is that these days, with changing consumer behaviour, many are not looking for long term high paying commitments. The Renault Subscription is a unique solution to these concerns while offering them the opportunity to drive a European car, 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.
Aside from that, 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.
The scheme allows for more options to customers who traditionally would not like to try out brands that they are not familiar with. It allows for those that are also not bothered to deal with deprecation and other issues when it comes to reselling a vehicle. We believe the first is most suitable explanation to why the plan was formulated. It would definitely be a good less risky option for those who would like to try something new.
According to Renault Malaysia (under TC Euro Cars), this type of plan is a first, the closest comparison for ‘Renault Subscription’ plans 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 two diagrams below detail the two plans available under ‘Renault Subscription’ – Fixed and Switch:
* Both plans include insurance, road tax, maintenance package, wear and tear, unlimited mileage.
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
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