The CEOs of Flux and SOCAR spell out the options available to Malaysians and why they are so relevant now
How accessible is a car to the average Malaysian? It’s a complex question depending on whether your goal is to own a car or simply to use a car.
Now more than ever, Malaysian drivers get to enjoy more choices and flexibility when it comes to car ownership, from purchasing second-hand cars to innovative ‘Subscribe to Own’ plans by car subscription services like Flux.
And for working urbanites who don't own a personal vehicle, car-sharing services like SOCAR make it faster and more convenient than ever to book a car for a few hours a day or on a weekly and monthly basis. Drivers who are looking at a more long-term option than car rental can also look to Flux, which offers access to your car of choice for a monthly subscription fee that's inclusive of road tax, insurance and maintenance.
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"Buying a car, which is a depreciating asset, via hire purchase loan can be one of the worst financial decisions anyone can make," says Flux founder and CEO Aziz Ayman. "The long-term, restrictive commitment that comes with a car loan may put a strain on household finances, especially during trying economic times."
Aziz founded Flux to offer consumers an easier and more cost-friendly means of using and owning their car of choice, bypassing the constraints of conventional car loans and costly downpayments.
As Malaysians brace themselves for an economic downturn and waning job security caused by the coronavirus pandemic, flexible payment options and a consumer-empowered sharing economy are now more important than ever.
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