The cost of living has seen a considerable increase in recent years. It almost seems that the price of everything takes a huge hike on a daily basis. Whilst this is causing difficulties for our home lives, it’s also pretty evident when it comes to our time out on the road too…
The rising cost of driving
Driving has become an increasingly expensive affair in 2022. Eye-watering fuel prices aren’t the only thing that’s seen a rise recently either. Insurance in the UK has seen two annual price increases in the last 18 months, with drivers paying 6% more on average during the second quarter of 2022 for their car insurance. When you factor these everyday costs of driving into the fact that the demand for used vehicles during the COVID-19 pandemic resulted in an immense price hike, and you begin to notice just how expensive car ownership can rapidly become. And that’s without thinking about all of the other associated costs…
Car subscriptions provide a more economical, sustainable solution
When it comes to efficiency in driving, particularly with the current economic climate, car subscriptions are a highly-effective solution for drivers. As we mentioned above, driving as a whole has become much more expensive. Subscriptions not only provide a more economical way to get out on the road, but they also give you more convenience, more flexibility, and more freedom.
How does a car subscription work?
If you’ve ever had a subscription of any kind before, you probably know how they work already – you pay a consistent recurring fee for a set time period, and you gain access to a specific service or product throughout that time. Car subscriptions work in much the same way. They typically work on a recurring monthly fee, and in return you have a car of your choice that’s yours to use for that month.
Some subscriptions work on a more contractual longer-term basis, but if you want to maintain freedom and flexibility, a rolling subscription is the better option. These work on a month-by-month basis, so you can simply pay each month and have the option to cancel at any time providing you give enough cancellation notice for the subscription provider you’re with. This is one of the biggest benefits to a car subscription…
The benefits of a flexible car subscription
Regardless of the car you want, car subscriptions as a whole provide drivers with a seemingly endless list of unique benefits that you simply don’t get with other forms of vehicle acquisition. Whether you’re a frequent, regular driver, or someone who only needs a car for a few months each year, a car subscription can be one of the best ways to get in the driving seat. Here’s why:
Freedom of access to a car as and when you need it
Sometimes, you may only need a car for a few months each year. Whatever the reason may be behind this, when you’ve purchased a car or taken out a long-term lease, you’re left with a car that could be sat unused for long periods of time. This has two downsides – one being that your car might suffer some degradation with lack of use (particularly if it’s an older model), and the other being that you’re still left to pay the associated costs for something that you simply don’t need at the time. Car subscriptions remove that problem. You can pay for a car for as long as you need it, and once you reach a point where you find yourself not needing the use of it for a while, be it just a month or even longer, you can simply cancel or pause your subscription. This removes the costs altogether when you don’t need your vehicle, and you can simply restart your subscription when you need a car again.
Significantly cheaper initial costs than other forms of vehicle acquisition
Purchasing a car or taking out other forms of long-term contracts often come with large initial financial outlays. Whether this is down to purchasing a vehicle outright at full price, or paying a large deposit on a finance/long-term lease contract. Car subscriptions don’t have that same association. You simply pay your agreed monthly fee on a recurring basis. This gives you quicker, cheaper access to your chosen car without the need to put down large sums of money up front.
The ability to drive a diverse range of the newest cars with the best technology
There’s no doubting that new cars provide significant improvements over most older models when it comes to every aspect of driving. They’re generally safer, more comfortable, and much more economical. But, like we mentioned above, they’re often much more expensive to buy. Car subscriptions give you access to these new models at more accessible price points, and you’re also getting the benefit of being able to choose from a diverse range. Car subscription providers generally work with leading manufacturers, giving you a long list of options when it comes to finding the car you want. Best of all, some providers who prioritise freedom and flexibility let you change your car on a regular basis. So, if you’re not a huge fan of a particular model, you can change it for something that’s more to your liking, or simply experience different models as you please.
You get everything you need to get out on the road with a single, simple recurring fee
There’s more to driving than simply getting your hands on a vehicle. For example, in the UK, you need UK road tax, car insurance, and a valid MOT for applicable vehicles in order to legally drive. On top of this, you need to think about other useful optional extras such as breakdown cover (and any other associated costs such as emergency recovery if your breakdown plan doesn’t include it), maintenance and servicing (including things such as tyres and other consumables), and many others. Reputable car subscription providers can give you all of this and more, even including insurance, all rolled into your monthly fee. You’ll typically find that you get a generous pro-rata mileage allowance too, allowing you to drive with confidence and avoid further unwanted fees.
Take advantage of dedicated support throughout the duration of your subscription
Sometimes things don’t quite go to plan. Breaking down in the midst of your morning commute is never an ideal situation to be in. But good car subscription providers will never leave you to deal with issues. As we mentioned above, a car subscription will often include things such as breakdown cover, recovery, emergency assistance and more, meaning you’ll have plenty of tools and features at your disposal should a dreaded problem ever arise whilst you’re out on the road. Subscription providers will typically have a friendly and knowledgeable customer service team that you can talk to at any point throughout the duration of your subscription too, meaning your questions and queries will never go unanswered.
Is a car subscription for you?
If you’re looking for a way to drive with more freedom, better reliability, and that’s more economical and sustainable, a car subscription may be just what you’re looking for. They provide a diverse choice of vehicles, whilst giving you access to a car as and when you need it, all without landing you with long-term commitments that can often be impractical and frustrating.