What is the New SmartLease Service?

Malaysians depend on their vehicles for both work and in their personal lives. The cost of buying a vehicle can often put an individual into a debt that could last up to nine years as a car loan. Often many drivers end up still paying for a vehicle that has greatly depreciated and is no longer reliable. A better option may be to lease a vehicle.

New Smart Lease

There is one company in the financial service business that has come up with an innovative idea for car leasing. It is called the New Smart Lease.

The purpose of this type of lease is to offer it has a short term lease that has some flexibility to it. It comes with an option of leasing the vehicle for either a three year or five year period. The individual committing to the lease has to put down a three-month security deposit. This is for the first time they are entering into the leasing agreement. If the person continues using the service after the lease is up, there is no requirement for another three-month security deposit.

Following the security deposit, the lease payments are at a fixed price each month. These payments include the cost of the road tax, and the insurance and also the maintenance fees are included.

Savings

Those promoting this new Smart Lease are suggesting that savings could result in more than half of what the individual would be paying if they were buying a car and having to make car loan payments.

Choice of Vehicle

Currently, the choice of vehicles under this leasing agreement are various models of Honda and Toyota.

End of Lease

Once the lease has expired, the individual will have a choice of returning the vehicle or keeping the vehicle and renewing the lease.

This is just an example of the type of leasing arrangements that can be made for a car in Malaysia.