This Service Is Betting On M’sians To Ditch Owning Cars And Subscribing Them Long-Term Instead


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[This is a sponsored article with GoCar.]
Over the past few months, my colleague has been debating on getting a new car.
From the on/off MCO that we’ve had recently, her car’s battery died. Not to mention, her car was more than 10 years old at this point too.
Purchasing a new car is both a large expense and commitment; but for many, it’s a necessity to travel to work.
With the end of the loan moratorium, many people are left to rethink their transportation solutions, and long-term commitments are not something many want to get into.
For some, public transport is not an option, and renting a car or getting a Grab daily can be an expensive choice. But, there is a service that not many have considered, and that is long-term car subscription.
Previously known as GoCar Subscription, GoCar Subs is a rebrand, aiming to offer users a wide variety of vehicle subscriptions at an affordable price.
While we’re all familiar with the usual pros and cons of buying a new or used car, here are some benefits of a long-term car subscription that we should consider.
When it comes to owning a car, there are plenty of payments that you need to be on top of. You need to pay for car insurance, road tax, monthly loan repayments and regular servicing and maintenance.
Depending on the make of your car, those could be costly and if you’re unlucky, servicing and repairs could end up costing a fortune too.
With GoCar Subs, you can get a car that suits your needs. They come in five different subscription packages: Cheap, Base, Plus, Expat and Luxe.
A ‘Cheap’ subscription package can go as low as RM999 per month for 36 months, and it includes popular cars designed for city driving such as the Perodua Axia, Proton Saga, Proton Iriz and others.
Their subscription is an all-inclusive package that includes vehicle insurance, road tax, wear and tear replacements and a car that is regularly serviced and checked by an independent inspection service.
In Comparison: If you were to buy a Proton Saga (2019), it would be around RM39,800.00. You’ll also have to fork out an extra RM3,980 (10%) upfront. If you opted for the 3-year loan repayment option, you’ll have to pay around RM1,100 per month. This excludes additional costs such as insurance and maintenance fees.
Another added benefit to GoCar Subs is that in the event of servicing or maintenance, you don’t even have to take it to the mechanic yourself. Reach out to a GoCar Subs representative and they can get the car picked up, serviced and delivered back to you after maintenance.
And all you have to pay for is RM999 a month + your petrol usage.
© Provided by Vulcan Post The GoCar Subs start at RM999 for a Proton Saga.
© Provided by Vulcan Post A closer look at the Proton Saga’s condition / Image Credit: GoCar
For most hire purchase vehicles, the contract ties you down to a long-term loan of 7 to 9 years. Of course, the duration can be shorter if you’re willing to pay more every month.
This would mean that for that period, you’re locked down to the same car and changing a car to suit your current needs is not easy.
For example, you’re now a fresh grad with a new job. You can settle with just a Perodua Myvi that’s cheap and functional.
But what if 3 years down the road, you get married and you are thinking of starting a family. You might be thinking of upgrading to a spacious sedan with better safety ratings for your future kids.
Or maybe you managed to get a huge promotion and you want to change your car to showcase your new standard of living. You’ve worked hard for it, so why not get an upgrade, right?
And if you’re a contractor, you need the extra flexibility to be able to move at a moment’s notice. The GoCar Subs service offers a variety of plans that you can opt for, freeing you from traditional contracts.
Through GoCar Subs SWAP, you are allowed to change the car you subscribed to for a different car (twice a year), and your subscription will be automatically adjusted based on the vehicle you selected.
Example: You’re currently on a 3-year subscription for a Honda City. But 1 year in, times are tough and you need to tighten your belt, you don’t have to look to sell your car and go through the tedious selling process.
Instead you can SWAP and select a car from the Cheap category instead. And if things improve a few months later, you can then SWAP again to upgrade from the Expat category.
Depending on your needs, your subscription on GoCar Subs can be tweaked too. If you drive more than 1,650 KM per month, you can easily top up. If you require access into Singapore or require tinting, you can customise your subscription to cover that as well.
By opting for GoCar Subs, there’s no need for you to apply for bank loans. So you will not be incurring any financing fees or interest rates. You can just pay for what you need, when you need it.
By subscribing to a car, it won’t impact your Central Credit Reference Information System (CCRIS) and is not calculated in your Debt Service Ratio (DSR) as well.
Depending on how long you require the vehicle for, GoCar Subs allows you to subscribe to GoCar Subs weekly, monthly, 12 months, 24 months, and even 36 months.
The longer you subscribe for, the cheaper it is for you too.
For example, with the ‘Plus’ package, you can subscribe to the car at a weekly price of RM599, or a month’s subscription for RM1,899.
If you’re currently on an existing car loan that you’re tied down to, GoCar Subs offers you the option to convert your hire-purchase agreement into a subscription. But there are two ways to go about it.
Basically, GoCar Subs gives you the option to break free from your loan.
To do so, reach out to the GoCar Subs team, and they’ll advise you on your current vehicle’s value.
If both parties are in agreement, then you can sell your vehicle to GoCar Subs. You can then choose to ‘re-subscribe’ to your car, or choose from one of the existing vehicles from GoCar Subs.
The system works on a first-come-first-served basis and a representative from GoCar Subs told us that it only takes 10 to 14 days for a vehicle to be ready for you, for plans that are 12-months and above.
For weekly and monthly plans, the vehicle will be ready in just 5 to 7 days.
GoCar Subs is only available in Klang Valley too, so best to plan ahead and subscribe to the car you want before they’re taken.
For the month of November, GoCar Subs has a new promotion for users too. By using the NEW2SUBS promo code, you can enjoy:
Do note that this promotion ends on November 30, 2020.
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