Toyota today announced that its Kinto One car subscription program in Malaysia, under which you can basically lease a brand new Toyota or a Lexus instead of buying one, has been further enhanced to offer customers more flexibility.
What’s new?
The enhanced program now allows subscribers to choose from different yearly mileage packages starting from 20,000km to 30,000 km, and even choose a longer subscription up to 5 years.
On top of that, the Kinto One program now offers the Lite Package for customers who are travelling lesser than before, but still require an easy and straightforward car ownership program.
While Kinto One Lite Package still carries all the value proposition of a typical car subscription program, it also offers extensive flexibility for customers to choose the package that suits their needs best.
Another enhancement is the introduction of Kinto One Business that is aimed at business owners who want to subscribe to a fleet of vehicles.
“Soon after we launched Kinto One, the country was ushered into another major lock down and this has encouraged us to be more adaptive of the local happenings. We took advantage of the recent lockdown to improve our Kinto One features,” said Thomas Chai, President of Toyota Capital Malaysia was quoted saying.
How does Kinto One work?
Available in numerous markets around the globe, the subscription period under Kinto One comes in either two or three years, and once the subscription period is completed, customer simply needs to return the vehicle and everything else will be taken care of.
According to Toyota, the biggest advantage of subscribing to Kinto One is that the customer does not have to worry about the residual value of the car, and things like how to sell off the car after years of ownership.
Kinto One is the birthchild of joint strategic collaboration between Toyota Capital Malaysia Sdn Bhd and UMW Toyota Motor and is part of the local early mover transition to realizing Toyota’s ambition to become a mobility company.
“We listen closely to what the market needs and has come up with additional varieties of Kinto One to cater to the growing car subscription market” he added.
How much?
To recap, how Kinto One works is that there will only be a fixed monthly subscription fee which you will pay Toyota Capital Malaysia when you lease a car, 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.
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.
