The pandemic has been detrimental to the Malaysian economy, the Malaysian community and Malaysian households. The rakyat have endured pay cuts or job losses and as a result may no longer be financially secure. Many have realised it is insufficient to rely on a single income stream.
For those households who find themselves with a spare car, sitting idle at home, they can now subscribe their car out and earn a passive second income on Flux.
Working from home for many people has left many with cars idle in the driveway, yet people are still incurring costs in the form of loan payments, scheduled maintenance bills and even surprise breakdowns from underuse.
Selling one’s car may seem the most practical and efficient way to solve this problem, but with average used car prices down by over 10% compared to the same period last year, many are not able to settle loans with a lower resale value.
Aziz Ayman, Founder & CEO of Flux says with the past 18 months being tough on everyone, the company is offering individuals a way to earn extra income.
“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,” says Aziz Ayman.
According to Flux, this is where the company comes in with an all-inclusive multi-brand car subscription platform that allows consumers and businesses to subscribe to a car for 1 – 36 months.
Typically, Flux sources its inventory from automotive retailers, but has now opened its doors to individual car owners, allowing them to host and subscribe out their cars to over 4,000 Flux members.
Hosting your car on flux may help you pay your loan and offset some of the expenditures of keeping your car during the pandemic.
Flux has an insurance panel that is specifically designed to protect the cars that are under the subscription-type service.
The company also monitors the status of the cars and its occupants with onboard telematics to protect the assets.