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 fee||36 months 24 months 24 months|
|RM1,799 RM1,999 RM2,199|
|Inclusive of||Road tax|
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.
|New Mitsubishi Xpander|
|Subscription||Hire Purchase||Hire Purchase||Hire Purchase||Hire Purchase|
|Annual ownership cost||Inclusive||RM4,560||RM4,320||RM3,540||RM5,050|
|Total Costs for 1st year||RM21,588||RM29,790||RM30,808||RM28,008||RM33,279|
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.