In the year 2021, there were over 66 million cars bought worldwide. While many buy cars, purchasing a car can be financially straining for some people. That’s when car subscription and short-term leasing come into play. The concepts are not foreign, and many prefer it as it’s financially sound with perks like privacy, flexibility, safety, and convenience.
If you wish to learn more about car subscriptions, this article will aid you in making a well-informed choice.
What Are Car Subscription Services?
Car subscription service is the solution that allows you to drive a car like your own without ever having to buy it.
You can get a car from any brand you prefer and have the privilege of driving it. Several startups and automotive dealership companies have launched subscriptions in multiple markets, and many car companies and manufacturers have even started their independent subscription services.
Why Should You Opt for Car Subscription Services?
You must wonder why anyone would choose car subscriptions instead of leasing, buying, or renting.
The answer to this dilemma comes down to personal choice. While some people might want the freedom to change cars frequently, others might not be ready for a long-term commitment to a car.
Car subscriptions give you the freedom to choose a car you like and drive them periodically (until the subscription ends) in exchange for a fixed cost. Subsequently, you can swap cars whenever you want.
These facilities are appropriate for anyone who wishes to change cars frequently, travels often, or needs to change cars for different purposes.
How Does It Work?
Like other subscription services, the subscribers are asked to pay a fee. For a set time and conditions, the car of your choice is yours.
The fee that you pay for the car will include registration charges, insurance, maintenance, and road tax, which are taken care of by the leasing company. The subscription model is very similar to the leasing model.
The subscription model demands that the subscribers return the car in a condition as pristine as you borrowed it. It ensures that the car can be maintained in top-class quality for future users.
The period of usage, types of vehicles, and the monthly fee differentiate subscription service from leasing. Since car subscriptions are all-inclusive and more holistic, naturally, they are priced higher than leasing services.
Rules of Subscription Services
You must be aware of an array of rules before subscribing to a car service. Some of these crucial rules are:
- There cannot be any additional drivers.
- There shouldn’t be any international travel from the subscribed car.
- The driver shouldn’t smoke in the car.
- There shouldn’t be any free-roaming pets.
The choice of opting for a car subscription service comes down to the drivers’ driving preferences. If you’re someone who loves to change cars or is passionate about driving a lot of them, then you might consider getting a car subscription. The subscription-based models of owning cars are slowly attaining traction among consumers, and the market is expanding with every passing day and offers multifaceted benefits. Keeping in mind the trend, it can be reasoned that the car subscription model might transform the existing ways of mobility in the coming years.
However, there are some rules that you must keep in mind before zeroing in on that decision. This article gives you a detailed insight into the newest idea of car subscriptions and guides you towards making the right choice.