As a relatively new option to the car financing environment, renting a vehicle via a car subscription service may seem like a viable option for many drivers. As it is becoming increasingly popular across the UK to sign up and gain access to a well-appointed new or used car in the make and model you desire for as little as one month, let’s take a look at what car subscription really offers.
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What does car subscription entail?
Car subscription is one of the newer ways to rent a car and was created to offer a flexible alternative to traditional financing, leasing and car ownership. When you decide to buy a car, you will often be restricted by your budget and the vehicle will depreciate in value as soon as it leaves the lot. When using finance, you will be getting yourself into debt and will be responsible for any issues that your car runs into and all the typical fees associated with ownership. When leasing, you will typically be contractually obliged to rent the car for anywhere between one and four years and will have to pay insurance, road tax and more.
When you opt for car subscription however, contracts can start from as little as one month and all fees are included in a single monthly payment plan so you won’t have to worry about keeping track of what needs covering and when. You can change the vehicle you drive as often as you like and cancel and reinstate your contract at any time without any additional fees.
Why choose car subscription?
It is the unrivalled level of flexibility that is making car subscription a fantastic choice for many drivers – and businesses are beginning to take advantage of this when providing cars for employees who now have much more diverse working environments (i.e. working from home on an intermittent basis or travelling abroad).
Sign-up is simple and often completed online and accounts can be managed via a propitiatory mobile app or on desktop, so drivers can easily make payments, adjustments to their selected package (which is custom-built when creating an account) and more. It can be a cost-effective way to drive a more expensive car when budgets are tight and can offer the opportunity to try out electric vehicles or even a range of different cars until you find one you like.