KUALA LUMPUR (Sept 3): Sime Darby Auto Selection (SDAS), a unit of the automotive arm of Sime Darby Bhd, has collaborated with TREVO, SOCAR Mobility Malaysia Sdn Bhd’s (SOCAR Malaysia) people-to-people car sharing marketplace, to start the Fund Your Drive programme which seeks to make car ownership more affordable and accessible.

In a statement, SDAS said the programme will provide buyers of the company's cars the means to generate income from their vehicles by listing it on TREVO and a guaranteed resale price at the end of a 12-month period.

“The Fund Your Drive programme, which runs from Sept 2 until Nov 18, 2021, offers drivers the opportunities to purchase a reliable, refurbished vehicle from SDAS with a guaranteed resale price to SDAS within 12 months through the buyback option.

“In addition, they will also have a guaranteed income when they list their cars for rental on TREVO, which helps offset the costs of ownership such as loan repayments and maintenance fees,” it added.

The company noted that the guaranteed income from car rental, which covers at least 70% (subject to TREVO’s terms and conditions) of the monthly loan repayments, provides car owners with loan instalment support for 12 months.

“As part of the programme, car owners will also enjoy free auto servicing from SDAS for the 12-month period,” it added.

SDAS managing director Vi Thim Juan said the collaboration with TREVO offers a good opportunity for those who want to own an affordable car with the chance to earn extra income from it, which will also help in financing the car.

“Additionally, SDAS is also offering free 12-month servicing for TREVO hosts participating in the Fund Your Drive programme, which will provide a substantial amount of savings on car maintenance and ownership,” he added.

SOCAR Malaysia chief executive officer (CEO) Leon Foong noted that during this time of economic uncertainty for many, those who need to own a vehicle may be thinking twice due to the financial outlay required.

“Through a programme like Fund Your Drive, owners not only have a reliable, pre-owned vehicle that suits their budget from SDAS to choose from, TREVO also offers them additional means to fund the expenses associated with owning a vehicle,” he said.

At 11:40am today, Sime Darby’s share price gained three sen or 1.28% to RM2.38, valuing the group at RM16.19 billion.