The COVID-19 pandemic has changed the world, affecting millions in various ways. With movement restrictions, even travelling around is limited. This has of course meant that the car you own is used much less than before. Sure, you are saving on fuel bills and toll charges as you drive much less but for many, there are still the monthly instalments to keep paying and periodic maintenance costs.
At some point, you may wonder if you need to own a car any longer, especially since there are e-hailing services that can provide safe and comfortable transport. Selling off the car may seem a good idea but with average used car values down, it may not be a practical move and might not resolve the loan issue without having to come out with some additional money to settle the balance owing.
Individual owners can now join
Flux, a car subscription platform which entered the market in 2018, has a proposition that may interest you. The company has so far been sourcing its inventory from automotive retailers but now it is offering the same business opportunity to individual car owners, allowing them to host and subscribe out their cars to over 4,000 Flux members.
The advantage of becoming a ‘Host’ with Flux is that you can then earn some money with your car which is hardly being used. This can help to offset the instalments and maintenance costs. There is also protection while the car is used by others as Flux provides insurance coverage and, with telematics, keeps an eye on the car’s usage as if it was their own asset.
Vellfire owner can get up to RM9,000
According to Flux, you can earn up to RM9,000 every month if you provide a Toyota Vellfire or up to RM2,100 if it is a Toyota Vios; a Honda CR-V could earn you up to RM3,050 a month. Almost any model is accepted but it will be inspected prior to Flux accepting it for listing. If the condition is good and the terms are agreeable, then the car will be listed on the platform, along with a picture. A Concierge will be assigned to coordinate the collection of the car.
Assuming your car is in constant demand, you should be able to get income every month from Flux. The money due to you will be paid into a bank account you designate, and the company guarantees prompt payment.
“The past 18 months have been tough on everyone. That’s why we must all do our part to help our community. At Flux, we wanted to offer a way Malaysians can bolster their income without requiring much effort. Whilst other car-sharing services focus on short-term rentals which require you to manage each and every trip, Flux helps turn your car into a long-term money maker without costing you any time or effort.” said Aziz Ayman, Founder & CEO of Flux.
Flux offers a new way of car ownership without the usual commitments and hassles
