When you have the ability to drive, vehicle ownership isn’t always the best option; especially if you don’t have the budget to buy a new car or the potential to get finance. Many people would rather not get into debt in the first place, let alone a significant amount to be able to drive the car they want, and this is where a car subscription can come in handy.
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Car subscription at a glance
As the cost of living is going up, more and more people are looking for ways to save money – and running a car can be a big expense. When you consider a monthly car subscription uk, not only will you have the opportunity to drive a car you love without getting into debt, but you’ll also be able to save money on a host of factors like insurance and tax, as well as general upkeep and ongoing maintenance.
Car subscription providers will have a host of new and used cars (with petrol, diesel and electric options), transparent fees and often rolling contracts so you won’t have to worry about cancellation fees. This means that all you’ll need to do is select the vehicle you want, sign up for a contract that suits your needs and enjoy your new car with little concern.
Why is car subscription a good idea?
For many, cost is the top reason to use subscription services, but there are other benefits that come with it. First of all, it’s low commitment and you can pause and resume your contract at a moment’s notice. This can be budget-friendly and good for the environment, as the vehicle will only be on the road when necessary. This could have benefits for companies that offer company cars, especially as more and more employees are working from home and have more flexible schedules that may not require a car long-term.
When buying a car (using finance or cash), there is the consideration that it is going to depreciate in value over time, as all vehicles do. The current economic climate and a growing focus on the environment are bringing a host of changes to the automotive industry, so depreciation may happen faster and be more significant in the coming years. When hiring, this is something that you won’t have to worry about, as you won’t lose out on a significant investment and you’ll also have the ability to switch cars when new regulations or restrictions come into force.
Is car subscription for everyone?
If you are looking to save money, car subscription can certainly be a cost-effective alternative to traditional car ownership. If you’d like to drive a car that is out of your current budget range and don’t want a high level of debt, using a car subscription service won’t come with the same restrictions. If you want flexibility when driving, are considering the impact of your current vehicle on the environment, or are hoping for a convenient way to stay on top of the ever-changing automotive industry, car subscription can tick all of these boxes. With so many perks, there is likely to be a reason why this could be a great idea for you, so why not take a look at your options?