What is a Car Subscription?
With so many subscription services like streaming videos and music to weekly meal kits and capsule wardrobes, it was only a matter of time before car subscriptions became a reality. While you don’t own the car with a subscription service, you’re able to use it just like you would a rental when you’re on vacation, but for a longer duration. If you’re looking for a simple, all-inclusive solution, a car subscription might be your ticket.
More Flexibility
A car subscription service is similar to leasing a car, but less formal and much more flexible. With this service you don’t actually own the car (just like you don’t own a leased car) but you get to use it, on your terms for a monthly fee. Most subscriptions include all of the costs involved in owning a vehicle, like registration fees, maintenance and insurance (unlike a lease), all rolled into one simple monthly payment.
You can choose to subscribe month by month or for a longer term depending on your auto needs. Some companies also allow you to switch back and forth between different cars- maybe you want an SUV for a weekend trip but prefer a more fuel efficient option for your daily commuter. In addition to automakers like Volvo and Porsche, there are rental companies that offer subscription services as well as third-party services like those that we offer.
Leasing a car is an option for folks not interested in a long-term loan agreement that allows them to move into a new vehicle every few years without the headache of selling or trading their current vehicle, but the agreement does leave you on the hook for maintenance, repairs and insurance costs. While a car subscription is more expensive than a lease, it’s a low hassle, all-inclusive service that may just be worth that price difference.
Why Choose a Car Subscription Service?
One of the biggest perks to choosing a car subscription service is that it gives you access to a vehicle without having to put down a large initial payment or make a long-term financial commitment. It also eliminates the headache of shopping around for insurance rates and budgeting for maintenance and repair costs. You also have the freedom to easily start and stop your service as needed.
Just like subscribing to the latest smartphone, a car subscription allows you long or short term access to a vehicle without any long term commitments. Having all costs associated with your car nicely bundled into a single payment is also appealing as well as the support and perks like gas rebates that comes with it. Car subscription services are an alternative to renting or leasing a car and while they may be limited to certain areas, it’s certainly a growing trend.
