Want A Sole Monthly Payment To Own A Car Hassle-Free Without Owning It? Where The Flux Do You Get That?

It’s a promising prospect but you’ll always be limited to a single brand. Flux is a start-up that’s looking to flux-up the car leasing/subscription.

“It’s unbelievable that in 2019, the only financially attractive way a Malaysian can have access to a car 24/7 all year round is through a hire purchase loan. Because buying a car, a highly depreciating asset, is probably the worst financial decision a household can make,” said Aziz Ayman, founder and CEO.

“I founded Flux to challenge the status quo and offer a better alternative to the conventional car loan, here at home in Malaysia. At Flux, we are excited to pioneer a new means to access all the benefits of having a car in your driveway, without the costs. We are proud to challenge the conventions of car ownership, working collaboratively with the leading local automotive groups. Together, we offer you freedom of choice, at unparalleled convenience. In short, Flux is the simpler way to ‘own’ your perfect car,” added Aziz.

Aziz is also the son of former Bank Negara governor; Tan Sri Dr Zeti Akhtar Aziz, who apart from being a founder also serves as the chairman of Flux.

How Flux sets itself apart is in its carefully curated portfolio of vehicles available. They span across a wide array of makes and models sourced from “reputable automotive groups and retailers.”

All the vehicles are inspected independently, well maintained and free of flood damage as well as major accidents. They’re all fairly new as well with the majority of the fleet being 2018 or 2019 models.

Nonetheless, there are a couple of statelier older models such as a BMW 740Li F02 from 2009 and a Mercedes-Benz S300L from 2013.

If speed is your thing, there’s a Mercedes-Benz CLA45 AMG from 2014 or a BMW 630i GT M Sport. There’re are plenty of German models in the fleet as well such as a BMW G20 3 Series, G30 5 Series and a Mini Countryman with a Clubman.

Toyota is represented by a Yaris, Vios, Camry, Harrier, Fortuner and Innova while the Jazz, City, HR-V and CR-V hold up the Honda flag. Other models include the Kia Picanto and Sportage, Peugeot 2008 and 3008 as well as a Nissan X-Trail.

That’s all well and swell but what about pricing then? Prices start from RM814 for the Picanto and shoot up to RM8,837 for the BMW 63i GT M Sport. Seeing that flexibility is a key consideration here, the monthly fees displayed are the lowest possible for that particular model over a three-year contract with a monthly mileage cap.

Just like a regular hire-purchase loan, the longer the tenure, the lower your monthly commitment. So if you opt for a two-year contract on the Picanto, the monthly jumps to RM895. A year equates to RM1,040 a month. You can even subscribe for a single month at RM1,221.

Now onto the mileage cap. The lowest figure you spot is for the “Lite” package that has a cap of 1,250km a month or 15,000km a year (about the average Malaysians drive in a year). If you step up to the “Standard” pack, that’s 2,000km a month for an additional RM90 (Picanto). Of course, there’s an option for unlimited mileage. All the mileage add-ons vary according to the different models so don’t expect to pay RM90 for 2,000km monthly for a BMW.

Flux also stresses that the contract is not for the specific model but for its services. If you feel like switching cars, you can pay a RM375 fee to swap and then switch to the other model and pay the lower or higher monthly fee. That fee will be calculated based on the contract you signed. So if you took a three-year contract and started with the City, you can move up to the Camry and will pay the fee calculated on a three-year tenure as well. Just in case you realise the other model isn’t for you, there’s a three-day/150km return option.

If you opt for the three-year contract, Flux mentions the monthly fee is slightly lower than the equivalent monthly installment on a typical five-year hire-purchase loan with the usual 10 per cent downpayment. Flux doesn’t require a downpayment but a one-month refundable deposit.

The monthly fee covers all costs related to the operation of the car and includes road tax, insurance and scheduled maintenance. Their concierge service will schedule servicing, pick up and return the cars. Wear and tear items are included in the fee. All cars are fully insured with 24/7 nationwide roadside assistance. Flux cars are fitted with a telematics device in the case of theft.

Malaysians and even expats are welcome to use Flux. For the latter, you’ll require an international driving license. A Malaysian credit card, a mobile contact number and being above 25 years old is all the criteria you need to meet.