- isn’t that much into driving
- doesn’t want to be tied down to long term commitments
- finds buying a depreciating asset like a car to be idiotic but still need access to a car everyday
- The vehicle is off your balance sheet or isn’t part of your monthly commitment so it doesn’t affect your qualification to take a higher loan (ie buying a more expensive house, taking up a personal loan, etc). Now, as a general rule I do not recommend a person to be heavily saddled with debts just for some short term gain but there are cases where some business owners (ie food stall) who’s income qualification on paper doesn’t allow for a higher credit line, this will help bypass the declared income requirement. And yes, “Sudah Blacklist Boleh Apply” so no need to do shady sambung-bayar.
- The Captur retails for RM109k. In the company accounts, the depreciation of an asset is fixed at 20% per annum, Therefore, we’re talking about a loss of about RM21,800 on the first year of usage (in other words, if you choose to sell a Captur after buying it a year, you can expect probably around RM80k (check some classifieds and you’ll discover it’s actually a lot worse for 2-year old models). If we divide RM21,800 by 12-months, the owner would be losing RM1,816 on depreciation alone. And that’s not counting the road tax, insurance and maintenance that’s already factored in for free. Here’s you’re just paying RM1.5k a monht – perfect way for you to experience French automobiles without heavy penalties.
- We don’t have lemon law in Malaysia but technically since the car belongs to Renault, you’d probably have better luck asking TC Euro Cars to swap another Captur for you if the one you got have problems. Good luck doing that if you purchased the car under hire-purchase.
- It’s a fantastic way of accumulating credit card points since you can use credit card to pay the monthly subscription!
- If you’re taking this under company subscription, the full fee can be used to offset operating income to reduce taxable amount.
- If we divide RM1,499 to 30-days of usage, we’re looking at RM50 per day. Where can you find a full day car rental for that price?
- There’s no punitive downpayments nor are there any interest rates.
As a business owner, I’m quite amazed at TC Euro Cars being able to offer this as I would have considered it too risky a venture. The huge depreciation plus other consumables and road tax for a measly RM18,000 return seems more in favor of customers rather than the company which means customers who subscribe would stand to gain the most. Subscribers would still have to carry some form of responsibility such as not allowed to travel beyond 20,000km per year (penalties would be levied for kilometers in excess of this cap) and I’m guessing minor dents and scratches would have to be repaired under the subscriber’s cost. Accidents that can be claimed via insurance is probably excluded.
Overall a pretty good deal, if you ask me.
If you’re curious to know more, 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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