Perhaps it’s because of the high price of cars in Malaysia, but there are many who think of “selling their car before even buying it”. That’s making “resale value” a major consideration in a car purchase, in other words. Despite being very good cars, Korean-brand SUVs generally don’t fare too well in this aspect, and that’s something Kia Malaysia is attempting to remedy with its new “Value 5” scheme.
The unique thing about the company’s Value 5 scheme is the Guaranteed Future Value (GFV) after five years. Taking the top Sportage GT Line as an example, the GFV after five years for the RM141,888 SUV is RM72,000.
One can’t run away from depreciation in car value, which is almost as certain as taxes and death, but “losing” RM70k over five years (or RM14k per year of ownership) isn’t quite financial suicide. And it’s laid out in black and white on the day you sign on the line, which means no surprises.
The scheme is for the latest Kia Sportage OL and Sorento UM SUVs, and the GFV after five years is in brackets: RM141,888 Sportage GT Line (RM72,000), RM121,888 Sportage KX (RM61,000), RM155,888 Sorento LS Diesel (RM78,000), RM165,888 Sorento MS (RM83,000) and RM175,888 Sorento HS (RM88,000). Valid from now till December 31, 2016.
Those who take this up will have to perform service maintenance at authorised Kia service centres for five years, and renew motor insurance with Kia’s panel insurers. The scheme, which is non-transferable, comes with free five years of breakdown assistance. The value “strictly cannot be exchanged to cash” and the GFV figures are for trading-in for a new Kia five years down the line.
“Through the Kia Value 5 program, we want to create robust Kia used car value by guaranteeing the future value prescribed ahead, to customers who may want to upgrade to a new Kia model in five years. As the only mass model brand in Malaysia giving this opportunity to our customers, it is also the first ever GFV programme without any exclusive tie-up with financial institutions,” said Datuk Samson Anand George, Group COO of Naza’s automotive business.
On another note, the Kia Lucky Drive to Melbourne campaign for November 2016 is offering one lucky winner an opportunity to experience the tennis Australian Open 2017 live. Kia is the sponsor of the Grand Slam event.
GALLERY: Kia Sportage
GALLERY: Kia Sorento