For years people interested in getting a car had two major options: they could lease (usually a cheaper option in the long run without the benefit of actually owning their car) or they could buy (with one of the main downsides being that, by the time the car is actually paid off, it is already been made obsolete by new models).
An article written for autotrader.com states that the average term for a car loan is almost five and a half years. That’s a lot of time for new automobile technologies to be developed as well as a lot of wear and tear on your vehicle! This is where a third option – car subscription services – comes into play. If you don’t want to lease or own, luxury car subscription services are available to offer you the ability to get a new or different car every month, without spending a fortune.
Here’s how it works: Interested consumers sign up for the car subscription service of their choice, where they will usually be prompted to answer questions regarding their car preferences, a process allows users to get vehicles tailored perfectly to their needs. Shortly after this, a concierge will deliver the user’s selected car to their home address.
After a certain amount of time, usually about a month, users can request a new car and the process repeats. It’s a flat monthly fee, and it allows users the flexibility to drive what they want, when they want (if you wanted to opt out next month, for instance, you could easily do that).
The benefits of a car subscription service, as is probably evident, are varied and far-reaching. Perhaps the biggest advantage is the flexibility afforded simply by not needing to commit to a certain model of car. Car subscription services give users the power to have a sports car in the summer, a family vehicle in the fall and a four-wheel drive throughout the winter; its almost like having a garage full of cars available whenever you want a different one!
Another huge benefit of using a car subscription service is the avoidance of regular maintenance involved with owning a car. You get the car for its spring years, with none of the fuss that comes later in a car’s life, when you constantly have to replace parts and spend money on costly maintenance. A piece by the Globe and Mail found that Canadians spend nearly $800 maintaining their cars every year. Subscription services get rid of this problem entirely, as most services will handle all maintenance to the vehicles before they are sent out.
Finally, subscription services help users stay on the cutting edge of automobile technology. Rather than drive a dated car simply because they own it, users are able to get their hands on relatively new cars every month. This is not only a more fun way to drive, but it’s potentially safer and more energy efficient, since strides in those two fields continue to be made regularly.
Car subscription services have opened new doors to consumers. The benefits of a car subscription service provide solutions to all the shortcomings of both leasing and buying a car, and are almost undoubtedly the future of the automobile industry.