Edaran Otomobil Nasional (EON) launched its My Lease vehicle leasing and fleet management service, at its newly opened EON 4S (sales, service, spare parts, and spray paint) centre in Jalan Chan Sow Lin.
Newly formed subsidiary, DRB-HICOM Leasing, will be managing the fleet management service and put in charge of handling the vehicles that will be leased to customers.
For now the service is open to corporate clients where clients can lease the vehicle by paying a monthly amount to use the vehicle over a period of between 2 years and 7 years.
At the end of the lease term the vehicle is to be given back to DRB-HICOM Leasing, though customers can opt for the option of buying over the car at the end of its lease period.
During the car’s leasing period customers can enjoy round the clock maintenance with service and maintenance fees included and financed in the monthly leasing fees, car replacement in the event of a breakdown or accident, 24 hours customer call center, road side assist, and insurance and road tax renewals.
“Leasing offers a new alternative to hire-purchasing for customers to procure vehicles for their businesses, family, or daily needs,” said Azman Idris, chief operating officer of EON. “Customers can lease not only passenger vehicles but also commercial vehicles of their choice.”
Currently POS Malaysia and Alam Flora have signed a Leasing Agreement with DRB-HICOM Leasing to replace their fleet of commercial vehicles.
According to Azman leasing customers will pay between 15 and 25 per cent less for leasing a vehicle rather than going through the hire-purchase as leasing fees are generally lower than the installment for the equivalent hire-purchase.
For now DRB-HICOM Leasing would be leasing vehicles out to corporate bodies, with plans to introduce leasing plans for private individuals later on.
“We are expecting to lease between 5,000 to 10,000 vehicles for the first three years,” said Azman. “Whether or not we will grow our leasing fleet will be dependent on the market response.”