You subscribe to your telly, so why not take a car subscription...
UK Car Subscription Services...
Updated 2024...
Why would I want one?
Years ago we used to purchase physical CD’s and store them on our IKEA towers either A-Z or in our favourite genres, today we stream from the likes of Apple Music or Spotify.
DVD’s we used to buy from Woolworths or HMV, or we used to nip down to Blockbuster, pickup the cases, read the backs and either rent it or stick it back on the shelf, today its Netflix, Amazon Prime or Apple TV.
Books we used to head down to our local library (if we weren’t banned) or head to Waterstones or WHSmith, today we use Kindles or iPads to read them on, although it must be said that many of us still like to flick through a real book (or magazine).
Today, You’ll Own Nothing and Be Happy! We either rent it or subscribe to it, so what about cars?
As we know, there are loads of ways of getting a car, you could pay cash. You can finance it via a Personal Contract Purchase and swap it after 3 years or take out a traditional Hire Purchase and own it after 4/5 years. There are also car leases, which are very popular nowadays, but all of these options are based on you having the vehicle for a longer period of time, usually 2 to 4 years.
This is where car subscriptions come in, you ‘subscribe’ to a car, usually a minimum of 1-month and the vehicle is on a rolling monthly contract until you decide to ‘pause’ it, swap cars or just send the car back. No early termination charges or long-term commitment.
But have you ever considered subscribing to a car?
More and more car subscription providers are popping up, some of these are fintech companies (some of which have failed massively) others are independent businesses, some are even manufacturers trying their hand in the marketplace.
Car Subscriptions are generally one payment that covers the majority of essential items when you think about motoring, this is the rental, maintenance, servicing, roadside assistance, warranty, road tax and with some providers, the insurance.Â
If you want to upgrade your car after a couple of months, just make a phone call or drop an email and they’ll organise the swapover, need to send it back, not an issue. Want to downgrade your car, again it’s easy.
Like a Volvo? Subscribe to one of their OEM car subscriptions with the backup of the UK Volvo Car Dealership Network, if you like a selection take a look at Cocoon Vehicles where they offer multiple cars from lots of different manufacturers.Â
So lets get the facts right on these car subscriptions…
Car Subscriptions are like long-term car rentals in many ways, but they are closer to traditional car leasing but over a shorter period.
Usually some sort of checks are required, such as a credit check, document verification and some even want you to record a video of yourself whilst holding your driving licence up.
Whilst there are firms in the marketplace that offer Brand New cars, some recycle older cars and you could find yourself driving something up to 3 years old if you don’t ask the right questions.
Refundable deposits may be required and some even charge joining fees or documentation fees, some even add a massive processing fee to the contract so they can promote some unbelievable headline rates.
Watch your mileage allowance, most car subscription providers give you a generous mileage allowance but make sure that it suits your own personal requirements. If you go over you may get an excess mileage charge which could be very scary.
Are Car Subscriptions the future?
Car Subscriptions is just the latest buzz word, flexible contracts and short-term car leases have been available for a long time. It is a great avenue for manufacturers and dealerships to hit registration targets or get the latest models on the road with ease, whilst guaranteeing stock in the future for their forecourts.
Car Subscriptions in 2024 is proving very popular, but like with everything, we’d recommend reading the small print and seeing what the pro’s and con’s are.
If you need a flexible approach to car leasing, car subscriptions could be for you. Watch this space…
Disclaimer
This article has been written by ourselves and we have not been paid to write or mention any of the companies within this blog post. But if you click on some of the links within this website, we may receive a small commission.
Photo provided by Pixabay – Click Link for Details.
The owner of GGB is the owner of Cocoon Vehicles and has shares and/or tie-ins with other car subscription providers.
