Extended warranty with enhanced home appliance leasing from LG

KUALA LUMPUR, 7 March 2024:

Raising the bar on hire-purchase or leasing of expensive home appliances, LG Electronics (M) Sdn Bhd has introduced extended warranties of up to seven years with its LG Rent-Up package officially launched yesterday.

Malaysia is the second country to have this package offered to consumers, after its home base of South Korea, said LG Malaysia managing director Justin Choi. He explained this was made possible only because LG already has a leasing operation approved for Malaysia.

The Rent-Up package is an extension of the rent-to-own scheme that LG is already offering with its water purifiers range – to include eight other home appliance ranges of air purifiers, air conditioners, washing machines, refrigerators and TVs.

Unlike other leasing or instalment offers, LG Rent-Up provides manufacturer warranty throughout the entire tenure of the package, of between five and seven years. The package also includes free maintenance and regular servicing factored into the monthly payments.

Asked how the pricing compares with other leasing options, including interest-free schemes, Choi said LG Rent-Up has been priced competitively and consumers get extra benefit because of the extended warranty.

He explained the extended warranty covers free repairs and, since this is a rent-to-own contract, a complete replacement if the product is unusable within the terms of the package offer.

However, he emphasised the package does not allow a consumer to change products midway through the contract period – due to its rent-to-own nature. Also, the usual credit compliance checks will need to be conducted for a customer to qualify.