Toyota has just introduced its car subscription-based program in Malaysia, called Kinto One, under which you can basically lease a brand new Toyota or a Lexus, instead of buying one. Simply put, there will not be any dealing with the bank.
There will only be a fixed monthly subscription fee which you will pay Toyota Capital Malaysia, which will cover the registration of the vehicle, the annual comprehensive insurance and road tax, and even the periodic maintenance as well as preventive maintenance.
This simply means customers really do not have to pay for anything else; be it the oil change, the labour cost associated to servicing, or even components like the tires and the battery. Everything is all truly inclusive.
That said, the models offered under the Kinto One program and the monthly subscription rates are as mentioned below:
In case you’re wondering why the fee is so high compared to the conventional monthly hire-purchase loan repayment, it is because the Kinto One subscription period only comes in either two years or three years.
Once the subscription period is completed, the customer is to just simply return the car to Toyota Malaysia and everything else will be taken care of; dissociating typical customers from the worry of residual value of the car nor the worries of how to sell-off the cars after years of usage.
Introduced under Toyota Capital Malaysia, the subscription program is also offered by Toyota in many parts of the world in the Americas, Central Asia, as well as Europe. However, the Kinto One subscription program in Malaysia is first-in-the-world to introduce an Islamic based car subscription program.
According to Toyota, the Kinto One subscription program is also aimed at companies and corporations wanting to be light in their assets but still highly require the functionalities of being mobile, and also at individual customers who appreciate the fact that the cost of owning a car is really beyond the ability to oblige to the monthly instalments but also all the costs associated to it; payment for insurance, road tax, servicing and wear and tear of the vehicle.
Besides that, Kinto One customers are also entitled to the complete range of after sales services offered by Toyota, where the servicing and maintenance will be handled by authorized Toyota dealers with genuine parts.
Kinto One customers are also covered under comprehensive Takaful insurance coverage with 24-hour emergency assistance.
Mr Ravindran Kurusamy, President of UMW Toyota Motor Sdn Bhd said, “While it is newly launched here in Malaysia, we are starting with our learning curves way past the introductory stages. With strong support of Toyota Motors Corporation and the abundant availability of intellectual discourses amongst Kinto operators across the world, it has made our market introduction journey a very enriching one.”