“The agreement (Volvo Car Leasing) has no fixed value, and it is dependent on the number of customers who take up the service.”
KUALA LUMPUR: My E.G. Services Bhd’s indirect subsidiary MY EG Finance Technologies Sdn Bhd (MyEG Fintech) and Volvo Car Malaysia Sdn Bhd have launched Volvo Car Leasing, a leasing service for Volvo vehicles.
Volvo Car Leasing, a first for Volvo cars in Southeast Asia, offers customers the opportunity to drive a Volvo car worry-free, with the insurance, road tax, maintenance cost, and war- ranty covered.
MyEG Fintech had inked the leasing service pact with Volvo on May 2.
Either party could terminate the deal by giving a 90-day written notice, said MyEG Fintech.
“The agreement has no fixed value, and it is dependent on the number of customers who take up the service,” it said.
MyEG Fintech added that the agreement was expected to contribute positively to the company's earnings and net assets per share for the financial year ending June 30, until its expiry.
Volvo Car Malaysia managing director Lennart Stegland said the programme would be available for all Volvo models sold in Malaysia.
Customers can drive home a new Volvo from as low as RM2,762 per month, which includes an insurance package, road tax, and maintenance cost.
“Every Volvo leased under this programme comes complete with our Volvo Service Agreement Plus (VSA+) which covers a list of service actions and includes a wide range of wear and tear items, giving the customer peace of mind in when it comes to their Volvo experience,” said Stegland.
MyEG Fintech chief executive officer Justin Cheah said based on its calculation, a customer could save more with this leasing programme when compared to a hire-purchase pact.
Customers would not have to be concerned about disposing of or selling the cars at the end of the agreement, which was a given for a hire-purchase agreement, he added.
Compared to a traditional hirepurchase agreement, Volvo Car Leasing covered most of the costs involved with car ownership.
This convenience should also appeal to companies or fleet purchasers, he said.