Benefits of Vehicle Subscription Services
Getting a new car can be challenging because of the decisions that you have to make. You have to decide on the size, color as well as the model. And not only that you also have to determine whether you want a used car or a brand new one. And whether you’re going to buy or lease the car.
But for people who prefer short-term vehicle commitment, buying or leasing may not be the best option for them. That is where car subscription comes in. All you need to do is to pay the monthly fee set and get to enjoy the car of your liking.
How Car Subscription Works
Before we dive into the benefits of vehicle subscription, you should know how these services work. It is one thing to have a car and another to maintain it. Most people make a quick decision of purchasing a car without thinking through about the car expenses. You will have to pay the insurance and the maintenance. And all these costs can be quite costly.
However, when you subscribe to a car, the monthly fee you are charged covers all those costs. The payment may seem expensive at first glance, but when you think about all the car expenses included, a car subscription is not always expensive than buying or leasing a vehicle.
Companies offering vehicle subscription services include Volvo which has a program called Care that costs between $600 and $700 per month and Ford which has a subscription service called Ford Canvas that cost $429 a month among others. When you subscribe to a car, you don’t own it. You have to play by the rules and regulations of the subscription service. But you get to enjoy driving different vehicles.
• You are spared from car maintenance and insurance hassles that come along with owning a car. The monthly fee you pay caters for all those services. Plus there are no down payments.
• Users can drive different cars. With car subscription, you can be driving an SUV during the day and a Mercedes for a night out. However, with buying or leasing a car, this feature is quite impossible.
• Convenience. You don’t have to meet with the subscription companies face to face. All you got to do is sign up online via your smartphone and have the car delivered to your current location. Any time you need a car, it will be made available.
• Cancellation and reinstating a leased car can be quite expensive because you will be charged an added fee. But with car subscription, you can cancel or reinstate the car without having to worry about the extra cost.
• Flexible payment plan. Enrolling in car subscription services enables you to have a more flexible payment plan where you can change depending on your financial abilities. Unlike leasing a car where there are strict policies involved and changing your payment plan can be quite tricky. Also, with car leasing and rentals, you cannot change the contract until the said period is over. But car subscriptions allow you to change the agreement whenever you dim fit.
There are many benefits that car subscriptions have. But because the traditional method of acquiring a car involves an entirely different process with the one involved with car subscription, then it is hard to tell whether car subscription will always be cheaper or expensive. Nevertheless, car subscriptions services provide more transportation options. And if you want to subscribe for a car, there are certain factors you should consider including your monthly budget and whether the solution matches your car type.