Car subscriptions help you own a vehicle without the stress associated with typical car ownership. Unlike traditional ownership, a car subscription is easy and hassle-free. However, it comes with advantages and disadvantages. If you’re planning on using this service, continue reading to learn its upsides and downsides.
Pros Of Car Subscriptions
If you’re considering signing up for a car subscription, here are some of the benefits associated with it:
You Might Not Need To Negotiate With Dealers
The first advantage of a car subscription is that you don’t need to experience the hassle of negotiating with a car dealer. All you need is to do your homework and compare prices, options, and features before meeting the dealer. By the time you meet or talk to a dealer, you will have already known the car you want.
You Can Swap Cars
Car subscriptions come with the flexibility that’s lacking in owning a car. Since a car subscription is totally different from owning a vehicle, it allows one to swap a car if they don’t like it. For instance, if you’re currently driving a tiny car, you can switch it to a spacious one if necessary. Also, you can replace the current vehicle with a premium ride for luxury. A car subscription might be your best option if you’re excited about driving different vehicles.
You Do Not Experience The Hassles Linked To Owning A Car
While purchasing a car is a considerable achievement, it comes with pocket-draining responsibilities. For example, a car owner must schedule maintenance, take care of car insurance, and even pay road tax. However, if you’re using a car subscription, you don’t need to worry about these aspects since your dealer is responsible for everything.
There Is No Long-Term Contract
Another advantage of a car subscription is that you aren’t bound by a long-term contract. As a result, you can cancel the subscription whenever necessary. You also don’t need to worry about the repercussions of terminating the contract since many car subscription companies don’t charge penalties for that. In short, a car subscription allows you to terminate the agreement if necessary.
You Enjoy Customer Support
Car subscriptions provide 24/7 customer service. Therefore, you can rest assured that help is a call away whenever needed.
Cons Of Car Subscriptions
Besides the advantages discussed above, a car subscription has a fair share of disadvantages. Among these disadvantages are:
They Come With High Monthly Charges
The monthly charges for a car subscription are relatively high. Many claim these fees equal the total amount of purchasing a car. However, it’s vital to remember that the monthly charges are all-inclusive; hence, they cover everything the vehicle requires, including maintenance, road tax, and insurance.
Advanced Models Equal Higher Prices
It’s important to understand that car subscriptions don’t charge a flat fee. The amount you pay depends on the type of car you’ve chosen. For instance, if you settle for a high-end vehicle, you’ll definitely attract high prices. At the end of the day, the amount you pay might surpass the benefits of the subscription.
Your Credit Score Can Affect Your Eligibility
A car subscription isn’t a form of car financing. However, your credit score can determine whether you’re eligible for the subscription. Car subscription companies want to be sure that their clients can afford the monthly charges. Therefore, your provider will likely ask about the score for this purpose.
You Might Never Own A Car
Car subscriptions allow you to have a car of your liking for use. However, the car doesn’t belong to you. While you might argue that you have a car whenever you need it, there’s a sense of fulfillment that comes with owning one. For example, you can adjust and modify your car or gift it to your loved ones. If you’d want to enjoy the happiness of owning a car, car subscriptions might not suit you.
There Is No Modification
With a car subscription, the vehicle isn’t yours. You only have the right to use the car as it is. Therefore, you can’t perform any modifications or adjustments. This is a limitation for people who have fallen in love with a particular car and wouldn’t want to swap it. Nevertheless, some car subscription companies allow their clients to do car modifications. Therefore, check with the company before attempting changes to avoid crossing the boundaries.
A car subscription is ideal for people looking forward to having vehicles within reach without owning them. With a car subscription, you can swap and enjoy maintenance-free cars. However, these services limit you when it comes to modification and might get in your way of owning a car. Weigh the above-discussed pros and cons, and base your decision on the findings.