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Nowadays car rental business is one of the best profitable investment options in Malaysia. specially in an international business country like Malaysia, with vast market demand for rentals as its cheaper to rent anything & temporary for easy disposal. Today let's check out car rental business investment and procedure, we help you to start & set up in Malaysia profitably.
The car rental business is one of the best rental investment options. Many people & business requires rental car services, which have a good market demand if can be managed properly. With a fleet of 5 to 10 cars, anyone can start a profitable car rental business, where we provide company, legal business licenses, car purchase, car registration, and driver & business setup advisory services.
Malaysia is a big country multi states with multi national population and as a leading tourist county, the necessity for car rental is high. Often locals travel from state to state and hire cars in their destination places, tourist and students also rent cars as temporary solutions.
COST OF CAR RENTAL IN MALAYSIA
1. Small cars - Cars like Proton Saga and Perodua Bezza can cost around MYR 130 per day. Nissan Almera should cost you about MYR 155 per day. Toyota Vios and Honda City cost a bit higher - somewhere around MYR 190 per day. Toyota Innova falls in the higher segment and is likely to cost you MYR 340 per day.
2. Automatic and premium cars - Automatic cars will cost you around MYR 127 to MYR 323 per day. Small and medium cars are more or less of the same range. Sedan and premium cars cost somewhere around MYR 325 to MYR 340.
3. Luxury cars - High-end cars like Audi are likely to cost MYR 2000 per day. Car rental for the BMW series starts from MYR 1300 per day. Ferrari rental is somewhere around MYR 5000 per day. Mercedes rental is around MYR 2000 per day. Porsche rental will cost you around MYR 1800 per day. Per-day rental for Rolls Royce ghost will be around a ghastly amount of MYR 7500.
Service providers include basic damage protection, basic theft protection, and taxes. However, the base rates neither include security deposits nor the cost of fuel. The terms and deposit amount may differ from one service provider to another.
POLICIES TO KNOW
1. Driver's License & Age - The drivers and hirer must be between 23 and 65 years of age and must possess a valid driving license in Malaysia or a valid international driving license with at least two years of driving experience. Malaysian "P" license is not accepted.
2. Rates - Rates are quoted in Ringgit Malaysia. Daily Car Rental Malaysia rates cover a full 24 hours with unlimited mileage. The excess hour is calculated at 1/5 of the daily rental rates. Rental rates are subject to 5% government tax.
3. Minimum Rental Period - A minimum Car Rental Malaysia period of 3 days is applicable.
4. Insurance - Rates include unlimited liability insurance coverage of third-party bodily injuries and passenger risk and third-party property damage up to RM 100,000.
5. CDW - Vehicle insurance carries an excess of RM 2500 for group A, RM 3500 for group B, and RM 4500 for Group C for every accident causing damage to the rented vehicle, loss of car by fire, and theft will be the hirer's full responsibility and liability.
6. Car-rental Licenses - The car rental business requires a registered company (SDN BHD) in Malaysia for foreign investors, locals can operate with enterprise or sole proprietorship licenses also.
An SDN BHD company is a private limited company where we can assist you with company incorporation, licenses, business planning, management, accounting, and audits.
There are 2 types of car rental business licenses in Malaysia;
CAR PRICE IN MALAYSIA
Car prices in Malaysia are quite cheaper than in other Asian countries, one can get a second-hand mint condition car from RM 30,000 to RM 100,000 depending on size, company, and model. Brand new cars can get from RM 60,000 to RM 200,000 or more.
Even a small fleet at least for car rental business should be with 2 to 4 cars. In that case, the budget should be from RM 150,000 to 400,000. Depending on your earning expectations and capital capacity, usually, a car rental business profit margin in Malaysia is 5% to 10%.
We are assisting our investment clients with car rental company setup, car rental business licenses, car purchase, hire drivers, car insurance, car rental business apps and IT support, marketing and corporate rental attachment, business management, accounting, and audit.
To start a business or buy a business in Malaysia you will need business licenses, specially if you are a foreigner, it's a must to have a Pvt. Ltd. or SDN BHD company. We are processing company registration consultancy, bank account, business licenses advisory, accounts & taxes for you by our experienced partner & associate accountants, tax advisors, SST advisors & business investment advisors.
Our company registration consultancy package includes:
Contact & Email us for services price quotation
WHY MALAYSIA IS SECURE BUSINESS HEAVEN NOW
Malaysia is one of the strong economic power in Asia & the world, even surviving very well in the global resection of 2009. With a multinational population, there is always market demand, most importantly Malaysia is among those countries that have a very powerful online market with an active customer base & because of government aid, banking aid investing is more secure in Malaysia.
This is why, investors from all over the world come to Malaysia with family & kids because of security, respect & loving nature which are the best gift of daily Malaysian life, which is hard to find in many other countries in the world. Invest in Malaysia this 2020, as foreign direct investment for a better future & family. We are offering many business varieties in various investment budgets for foreign investors to make a profitable business investment as per their budget, so everyone gets a fair chance to make genuine investment & business survival in Malaysia, to grow together with Malaysia.
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LIM & ANI ASSOCIATES SDN BHD
Call: +603-84081680 (office landline)
1/3/2023 09:18:40 pm
Please let me know of your package charges to set up the hired or tourism car business on the smallest scale (2 Proton cars to start with).
2/27/2023 06:39:09 pm
For a car rental company a foreigner will require a sdn bhd company, with company bank account, office, licenses and car registrations under company.
1/10/2023 05:11:15 pm
I appreciate you saying that fuel and security deposits are not included in the base pricing for renting a car in Malaysia. My sister would like to rent a car for a business trip. I'll advise her to inquire about base rate coverage.
4/20/2023 09:04:18 pm
If you're considering opening a car rental agency in Malaysia, you'll find some useful information in this blog post. The author describes the industry's potential for expansion and offers advice on how to launch and run a profitable automobile rental company. The piece also details the most important aspects of the automobile rental industry that potential investors should think about.
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