Needles Tosay

Newspeed

Needles Tosay

Newspeed
Jun 10, 2020
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8
8
21
Petaling Jaya


What are your thoughts on subscription over hire purchase? GoCar, an on-demand car sharing service just announced they've added 4 new models to their inventory under the GoCar Subs programme.

It's a one-price structure, so no matter Almera, City, Xpander or X50, you pay the same monthly price.

To start, there's a RM3,598 upfront fee that is refundable

Then, either RM1,799, RM1,999 or RM2,199 monthly for a 3 year, 2 year, 1, year plan

You can swap cars midway through for a fee of RM250 but limited to twice a year



So, are you ready to rent or do you still want to own?





-------------------------------------

From GoCar Press Release:

Under GoCar’s streamlined ‘One Price’ structure, all four models are offered in the EXEC category with the options of one-year, two-year and three-year subscription plans.

Monthly fee36 months 24 months 24 months
RM1,799 RM1,999 RM2,199
Inclusive ofRoad tax
Insurance
Regular service + wear & tear
Free upgrade to 2,500km mileage per month (instead of 1,650km), with top-up option for unlimited mileage.
24/7 roadside assistance
Door-to-door service within Klang Valley
SWAP to any car within the GoCar Subs garage (2 times per year to enjoy three different models)


Why buy? Subscribe!

Given the all-inclusive fees under GoCar Subs, customers will enjoy more total savings when they opt for the subscription model as compared to a hire-purchase loan, which does not cover the cost of ownership.

The table below details the total costs in the first year for a 36-month subscription of the four new models vs. a five-year hire-purchase loan – the most common loan tenure as consumers generally tend to purchase a new car after five years.



CostGoCar
Subs
New
Honda City
New
Nissan Almera
New
Proton X50
New Mitsubishi Xpander
SubscriptionHire PurchaseHire PurchaseHire PurchaseHire Purchase
Upfront feeRM3,598
(refundable)
RM8,166RM8,572RM7,920RM9,137
Monthly feeRM1,799RM1,422RM1,493RM1,379RM1,591
Annual ownership costInclusiveRM4,560RM4,320RM3,540RM5,050
Total Costs for 1st yearRM21,588RM29,790RM30,808RM28,008RM33,279
Total Cost for 1st year excludes security deposit as it is refundable.

Furthermore, customers of GoCar Subs not only benefit from the most affordable multi-brand car subscription programme in the market, they also need not worry about being locked-in to long-term loan tenures and vehicle depreciation costs.

Try out all the models available in GoCar Subs

With GoCar Subs’ ‘SWAP’, customers have flexibility of swapping to any model in the garage, with the option of two swaps per year. All they have to do is make a one-time swapping fee of RM250 and they will have access to three different models to suit their needs. The monthly fee and security deposit is adjusted accordingly based on the category of models they select.

As such, customers are able to experience all the new models available – start with the Almera, then try out the X50 and then move on to the Xpander and City later in their subscription term. Customers can also select any other model available within the garage.

To sign up for a GoCar Subs account or view the full garage listing, visit www.gocarsubs.com.
 

vr2turbo

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vr2turbo

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debatable whether this is a good idea or not. That's still a lot of money.
Local will usually buy the car with loan, in the end after everything paid up, they own the car.

Jap company as I know usually they lease. Just pay the monthly fees and leave the other things to leasing company. When they don't need the car anymore, just return...... :driver:
 
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gunnerzz

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gunnerzz

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For individual ( in Malaysia ) it just does not make sense.
Owning a car is much cheaper.

Resale value? If one worries about this then walking is the only solution.

Servicing cost is really subjective. How many of us still send our car to service center after it reach certain mileage right?

On one hand, we pay so much and in the end we got an old piece of metal which can still get us where we wanted.
On the other end, we pay so much more but in the end we have to pay so much more again to get around.

Still, of some have extra disposable monthly income then they can try leasing.
Then again, if they have extra disposable income during this pandemic i do think they want something up market.

Just my personal opinion though.
 
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Needles Tosay

Newspeed

Needles Tosay

Newspeed
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Jun 10, 2020
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Probably makes more sense for people who want and can afford the convenience of not having to go through the ownership process from step 1, then maintaining and selling. Not happy, just get car replaced
 

gunnerzz

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gunnerzz

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Probably makes more sense for people who want and can afford the convenience of not having to go through the ownership process from step 1, then maintaining and selling. Not happy, just get car replaced
If the car needs to be service, do we get a temporary car?

I like the 'get the car replaced' part.
 

ixeo

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ixeo

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I think makes more sense for businesses.

Subscription then it becomes expense. Not an asset. And thus can be knocked off against revenue before tax.
 
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Izso

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Izso

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I think makes more sense for businesses.

Subscription then it becomes expense. Not an asset. And thus can be knocked off against revenue before tax.
that is actually a good point.
 

minibeany

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minibeany

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Apr 30, 2017
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this is by Mayflower group. They used to be rent the same type of car for RM1200 per month. Until today, there are many car rental that rent monthly with a lower price.