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UMW Toyota Motor and Toyota Capital Malaysia (TCM) have announced the introduction of the automaker’s Kinto car subscription-based service in the country. The mobility services brand was established by Toyota in 2019 to operate and manage car-subscription programmes globally, the idea being to offer consumers an alternative path to vehicle ownership.
Making its local debut under the Kinto One label, the programme offers consumers the chance to drive a car without the hassles associated with the traditional hire purchase facility. As is the case with similar services, Kinto One works under an all-inclusive, fixed monthly payment, car subscription plan.
The fixed monthly subscription covers registration of the vehicle, its annual comprehensive insurance and road tax, periodic as well as preventive maintenance, with items such tyres and battery replacement as well as 24-gour emergency assistance covered under the plan. The duration of a subscription is either two or three years.
Once the subscription period is completed, all the customer has to do is return the car to the company, which will handle the rest. Essentially, the programme removes the worry of residual value of the car and the issue of selling it off after years of usage.
Subscription to the service is available online via the Kinto One website. Here, customers can view the car models available, decide on a subscription plan that suits them and apply online. Currently, the website lists eight Toyota models (Vios, Yaris, Corolla, Camry, Innova, Avanza, Fortuner and Rush) and four Lexus models (the UX, NX, ES and RX) as being available for subscription.
Prices start from RM1,678 per month for a Yaris 1.5J on a 36-month tenure, and selecting a 1.5G variant will increase that to RM1,928 a month. Meanwhile, a Corolla 1.8E will cost RM3,018 a month, while the 1.8G route adds on a bit more to the monthly payment, which is RM3,248.
As for Lexus, prices start from RM7,658 for the UX 200 Luxury Urban, increasing to RM8,658 for the Luxury and RM9,068 if you opt for the F-Sport version of the SUV. Selecting a shorter 24-month subscription doesn’t really hike the monthly repayments by much – in the case of the UX 200 Urban, the monthly payment is RM7,848 per month on a 24-month tenure, which is RM190 more than that in a 36-month plan.
The initial payment for all Kinto One plans consists of one month’s subscription fees and a refundable deposit (amounting to a month’s fees for the particular vehicle) as well as stamp duty. From there, subscribers will just have to follow on with the subsequent monthly charges, of which payment will be for the next 35 months in a three-year plan, and 23 months in a two-year plan.
According to TCM president Thomas Chai, the service is aimed at companies and corporations wanting to be light in their assets but still require mobility for their personnel, and also at individual customers who are looking to use a vehicle without actually owning it. “Kinto One is a distinctly curated plan for the new generation seeking mobility. It is about the shift of consumer behavior from car ownership to car usership,” he said.
For more info on the Kinto One programme and its subscription plans as well as pricing for individual model variants, visit the Kinto One website.
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