Nissan subscription plan now includes the X-Trail

KUALA LUMPUR: Edaran Tan Chong Motor has included a new car in its list of vehicles with a subscription plan. So, now after Nissan Leaf, the X-Trail 2.0L Hybrid too will enjoy the benefits of the program. There are several advantages of the subscription plan over the regular hire purchase loan -

• Firstly, there is a lower upfront payment
• Secondly, the total amount paid in 3-year would be lower
• Lastly, no concerns for depreciation

Under the ETCM subscription plan, the X-Trail hybrid SUV is offered for RM 2,500 a month. Similar to the Nissan Leaf plan, the prospective buyers of the X-Trail opting for the subscription path will need to set aside two months of the security deposit (RM 5,000) along with annual insurance (RM 4,500) for the RM 159,000 worth X-Trail. On top of this just include the first-month fee of RM 2,500, and the total payment comes down to RM 12,000.

This obviously is lower than the HP loan upfront payment of RM 17,388 that is calculated based on 5-year loan tenure with 90 percent margin at 2.6 percent interest rate. The regular route will set one back by RM 2,769 per month.

The total amount paid by the car subscriber after three months would be RM 100,452 that’s lower than the HP loan amount of RM 22,554. The amount mentioned above takes into account road tax and insurance for three months along with monthly payments. It is to be noted that periodic maintenance is free for 3-year, excluding wear and tear elements.

So, the subscriber will save about RM 22,554; however, by the end of the 3-year time frame, they’ll have to give away the X-Trail back to ETCM, while the purchaser will have to keep or sell the SUV.

The subscription plan also comes with a mileage cap of 60,000 km over the three years, i.e., under 1,700 per month on average. For every extra mileage, 50 sen per km will be charged. Since the car belongs to ETCM and not the subscriber, it will come installed with a telematics device.

Whether you go for the good old loan route or the subscription plan, the decision at the end depends on the buyer's priorities and usage.

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