Subscribe To A Car To Save You The Hassle Of Buying One
[This is a sponsored article with GoCar.]
Over the past few months my colleague has debated buying a new car.
Since the on / off MCO we had recently, his car’s battery died. Not to mention that his car was over 10 years old at this point as well.
Buying a new car is both a big expense and a big commitment; but for many it is a necessity to get to work.
With the end of the loan moratorium, many people need to rethink their transportation solutions, and long-term commitments are not something that many want to make.
For some, public transportation isn’t an option, and renting a car or getting a Grab every day can be an expensive choice. But, there is one service that not many people have considered, and that is long-term car subscription.
Formerly known as GoCar Subscription, GoCar Subscribers is a rename, aimed at providing users with a wide variety of vehicle subscriptions at an affordable price.
While we all know the usual pros and cons of buying a new or used car, here are a few benefits of a long term car subscription that we should consider.
1. A simple all-inclusive subscription
When it comes to owning a car, there are a lot of payouts that you need to be aware of. You have to pay for car insurance, road tax, monthly loan repayments, and regular maintenance and upkeep.
Depending on the make of your car, these can be expensive and if you’re unlucky, maintenance and repairs can end up costing a fortune as well.
With GoCar Subs, you can get a car that meets your needs. They come in five different subscription packages: Cheap, Base, Plus, Expat, and Luxe.
A “ cheap ” subscription plan can go up to RM999 per month for 36 months and includes popular cars designed for city driving such as the Perodua Axia, Proton Saga, Proton Iriz and others. .
Their subscription is a all inclusive package This includes auto insurance, road tax, wear replacements, and a car that is regularly maintained 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 will also need to pay an additional RM 3,980 (10%) in advance. If you have opted for the Loan repayment over 3 years option, you will need to pay around RM 1,100 per month. This excludes additional costs such as insurance and maintenance costs.
Another added benefit of GoCar Subs is that in case of servicing or maintenance you don’t even have to hand it over to the mechanic yourself. Contact a GoCar Subs representative and they can have the car collected, repaired and returned to you after maintenance.
And all you have to pay is RM999 per month + your gas mileage.
2. A flexible option that grows with your needs
For most hire-purchase vehicles, the contract binds you to a long term loan from 7 to 9 years. Of course, the term can be shorter if you are willing to pay more each month.
This would mean that during this time you are locked in the same car and changing cars to meet your current needs is not easy.
For example, you are now a new graduate with a new job. You can settle for a cheap and functional Perodua Myvi.
But what if 3 years later you get married and plan to start a family? You may be considering upgrading to a roomy sedan with better safety ratings for your future children.
Or maybe you managed to get a huge promotion and want to switch cars to showcase your new standard of living. You’ve worked hard for this, so why not get an upgrade, right?
And if you’re an entrepreneur, you need the extra flexibility to be able to relocate at any time. The GoCar Subs service offers a variety of plans for you to choose from, freeing you from traditional contracts.
Thanks to GoCar Subs SWAP, you are allowed to change car you signed up for a different car (twice a year), and your subscription will automatically adjust according to the vehicle you selected.
Example: You currently have a 3-year subscription for a Honda City. But 1 year on, times are tough and you have to tighten your belt, you don’t have to try to sell your car and go through the tedious sales process.
Instead, you can SWAP and select a car from the Cheap category. And if things improve a few months later, you can SWAP again to move from the Expat category.
Depending on your needs, your GoCar Subscription can be changed as well. If you drive more than 1,650 km per month, you can easily recharge. If you need Singapore access or need a tincture, you can customize your subscription to cover that as well.
3. Easy on your wallet
By opting for GoCar Subs, you do not need to apply for a bank loan. So you won’t be incur financing costs or interest rate. You can simply pay for what you need, when you need it.
By purchasing a car, it will have no impact on your Central Credit Reference Information System (CCRIS) and is not calculated in your Debt Service Ratio (DSR).
4. Versatile subscription commitment period
Depending on how long you need the vehicle for, GoCar Subs allows you to subscribe to GoCar Subs every week, every month, 12 months, 24 months and even 36 months.
The longer you subscribe, the less it is for you too.
For example, with the “Plus” plan, you can subscribe to the car for a weekly price of RM 599 or a one-month subscription for RM 1,899.
5. Trade in your old car for a subscription
If you are currently on a car loan that you are tied to, GoCar Subs gives you the option to convert your hire purchase into a subscription. But there are two ways to do it.
- Trade in your current car for GoCar Subs, but keep driving it.
- Trade in your car then subscribe to another car.
Basically, GoCar Subs gives you the option of getting off your loan.
To do this, contact the GoCar Subs team, who will let you know the current value of your vehicle.
If both parties agree, you can sell your vehicle to GoCar Subs. You can then choose to “ re-register ” for your car or choose one of GoCar Subs’ existing vehicles.
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The system operates on a the principle of first come, first served and a representative from GoCar Subs told us it only takes 10-14 days for a vehicle to be ready for you, for plans 12 months and over.
For weekly and monthly plans, the vehicle will be ready in just 5-7 days.
GoCar Subs is also only available in Klang Valley, so it’s best to plan ahead and subscribe to whatever car you want before it’s picked up.
For the month of November, GoCar Subs is also offering a new promotion to users. Using the NEW2SUBS promo code, you can enjoy:
- Free subscription the first month, 50% discount on the 2nd and 3rd months
- Free mileage upgrade from 1,650 km / month to 2,500 km / month
- SWAP fees waived for the first year
Note that this promotion ends on November 30, 2020.
- Learn more about GoCar Subs here.
- Use promotional code “NEW2SUBS” for certain freebies when you subscribe to GoCar Subs.
Featured Image Credit: GoCar
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