Toyota has a new product in Malaysia, and it's called Kinto One. Named after kinto-un, the Japanese word for 'flying nimbus' that might ring a bell among Dragon Ball fans, Kinto One is a subscription model which is already available in the Americas and some parts of Asia. Here, the service is now offered by Toyota Capital Malaysia as a first-in-the-world Islamic based car subscription program for customers seeking the perks of private car ownership minus the hassles associated with traditional hire-purchase methods.
Kinto One offers an all-inclusive subscription plan with a fixed monthly payment that covers vehicle registration, annual comprehensive insurance, road tax, periodic and preventive maintenance as well as 24-hour emergency assistance. Subscription is currently offered in two- and three-year periods for a comprehensive range of Toyota and Lexus models, with prices starting from RM1,678 per month for a Toyota Yaris. The priciest car in the Kinto One catalogue is the Lexus RX300, which will set subscribers back a cool RM11,238 monthly on a two-year plan.
Subscription fees are notably higher than hire purchase instalment rates, but it's an expected trade-off for customers who prefer to commit to a fixed payment schedule without wanting to be surprised by additional ownership and maintenance costs, as well as residual value once they decide to offload the vehicle. Kinto One is also targeted at corporate clients who want to keep their company assets lean without sacrificing the mobility of their workforce.