The benefits of car subscription: a complete guide
The benefits of car subscription
Car subscription is an idea that transforms the concept of ‘car ownership’ into one of ‘car usership’. In much the same way as you subscribe to streaming services such as Netflix and Spotify, car subscriptions allow you to enjoy the great bits of owning a car with none of the downsides or commitment – just a fixed, all-inclusive monthly payment for a car you can change or hand back whenever you like.
With so many brilliant benefits, it’s little wonder that car subscriptions are taking the automotive world by storm. In today’s post, we’re looking at these benefits in a little more detail and finding out the different ways they offer you a better deal than owning or leasing a car.
Freedom and convenience
Let’s begin with the complete freedom a car subscription has to offer. For a start, you’ll have a wide range of vehicles to choose from at the outset, which you can order online and get the keys to in as little as seven days. Thereafter, you can manage your car and subscription easily online, so it’s truly a 21st century way for drivers to swap hassle for freedom.
Not only that, you’re never stuck with a car when you take out a subscription. You have it for as long or as short a time as you need it, and you can change it for a different vehicle or hand it back whenever you like.
Whether you’ve had a baby, got a dog or changed jobs and no longer need to commute, there are so many reasons why your car may no longer meet your needs. A car subscription means you’re free to adapt when your circumstances and driving requirements change. That couldn’t be more different from buying, when you’ll be stuck with the car and all its costs until you manage to sell it, or with PCP, which will tie you into a lengthy contract of two to four years, complete with hefty fees if you need to get out of the contract early.
The convenience offered by a car subscription shouldn’t be underestimated, either. Unlike traditional car ownership or PCP, a car subscription is a lot lighter on admin and expenses – the fixed monthly fee is all you’ll need to think about, as it covers everything: insurance, tax, maintenance, new tyres, the lot. So you can say goodbye to the headache of shopping around for insurance policies and wondering whether you remembered to renew your car tax.
Cost savings and budgeting
Reduced admin is, of course, just one of the reasons why a fixed monthly payment makes things so much easier. Knowing exactly what you’ll pay for your car each month makes budgeting a breeze, as you’ll have none of the unexpected costs car owners are often met with – such as replacing tyres when you’ve had a puncture, or paying for a new windscreen that’s cracked. And bearing in mind that 19% of us have taken on debt to pay for servicing costs, that’s amazing peace of mind.
Car subscriptions typically include all the running costs of the vehicle in one all-inclusive fee, which covers:
- Road tax
- Comprehensive insurance
- New tyres
- Breakdown cover
With all that taken care of, you only need to add the fuel or EV charging and you’re good to go. You won’t even need to worry about depreciation or trade-in values, as those don’t come into it when you have a car on subscription.
The upfront costs are lower, too. Unlike the large lump sum you’d need to buy a car outright or to place a deposit on a car in a PCP arrangement, a car subscription only requires one month’s subscription payment upfront – and you’ll get it back when you hand the car back at the end of the subscription.
And, if there’s ever a problem with the car, you simply hand back the keys, no questions asked.
As we touched on earlier, another major advantage of car subscriptions is the complete lack of long-term commitment they entail. That’s invaluable if you’re not sure what your longer-term plans are, or if your circumstances are likely to change in the near future.
That could be needing a bigger car to accommodate a growing family, or a smaller one when the kids fly the nest. Maybe you might end up getting a dog and needing a car more suited to muddy paws and country walks. Or perhaps you might change jobs and start working from home, meaning you no longer need a comfortable commuter car. Whatever happens, car subscription means you have the freedom to change or hand back your car as your circumstances dictate.
Unlike traditional vehicle ownership options, which all commit you to a longer-term financial outlay, a car subscription means you’re only ever committed to a month at a time – so there’s none of the financial risk you’d get with ownership. If there’s a problem, then rather than having to pay to get it fixed before you can sell the car, you can just replace it with a different car pretty much at the drop of a hat.
Improved driving experience
New cars are pricey to buy, but with a car subscription, you can enjoy easy access to the latest, most exciting cars. That means you’ll have all the up-to-date features and technology you get with a brand new vehicle, which you may not be able to afford to buy outright. That adds up to a more enjoyable driving experience, as not only are the vehicles more comfortable, but because they’re also new and well maintained, you’re a lot less likely to encounter the problems you might have with older, second hand cars.
Car subscription is also a great way to try owning your dream car before you buy it – or to try a few! You never really get the full picture when you take a car for a quick test drive from a dealer. You need to know how it works with your day-to-day lifestyle, and you can only find that out by actually using it for a bit. Working through a few different vehicle options on a subscription is the answer.
Getting a car on a subscription can also enable you to make the environmentally conscious choice to switch to a particular type of electric vehicle – such as battery (BEV) or plug-in hybrids (PHEV) – sooner, without having to financially commit to emerging technology. If you opt for traditional fuel, you’ll at least know that by driving a brand new car, you’re taking advantage of the latest emissions-cutting technology (not forgetting that improved fuel economy is good news for your wallet!), which will be better for the environment than an older car.
And the benefits for the environment don’t end there. As the car subscription market grows and drivers make the switch from car owner to car user, the usage of vehicles goes up, because they’re only in the hands of people who actually need them. With fewer people buying cars that just end up sitting on the drive unused, fewer cars need to be produced overall, while the ones in circulation get more use. That’s key to what’s known as the circular economy, which relies on the concepts of sharing, repairing and reusing to keep products in use for as long as possible.
Why car subscription is the future of car ownership
In short, car subscriptions are good for you and good for the environment, and it’s not surprising that they’re enjoying a surge in popularity at the moment. Car subscriptions give you all the benefits of owning a car without the commitment, giving you the peace of mind that you can stop the subscription at any time. At a time when we’re all worrying about budgeting, car subscriptions also make this a piece of cake thanks to their fixed, all-inclusive monthly payment. The end result? Freedom to change, freedom from worry and freedom to enjoy the perks of driving without the hassle.
Browse our website to learn more about car subscription and check out the range of vehicles you could have on your driveway in as little as seven days.