I don’t access movies the same way my father once did. I don’t wait on streets for taxis for my daily commutes like he had to. I don’t read a newspaper like he does, instead get notification on my phone about topics I care about. I’ve never overpaid for a hotel but use services such as Airbnb and Booking.com instead.
As a personal rule of thumb – if my father and I can access a service the exact same way, the process of delivering that service needs changing.
The car-buying or leasing process hasn’t changed in decades. We’re sick and tired of the stale car-buying and leasing process and want a new way to drive high-quality vehicles with more convenience and flexibility. With all our innovations in the fast-paced environment we live in, it’s surprising to me that we still access cars the same way our parents and their parents once did.
Until now – the evolution of car ownership in the subscription economy.
Using a car subscription app you can now gain access to vehicles which you can return or upgrade at your convenience, and best of all you don’t have the penalties, fees, or additional charges that usually come with leasing or purchasing!
With only a one-month commitment, user can find car-subscription apps that enhance their lifestyles, which are changing at a rapid pace. With subscription-based car use, 21st-century drivers finally have a way to access vehicles, a way that meets the changes of this exciting new era.
As per an article published in Gulf News, new car sales in the UAE have dropped by a staggering 50% from 2015 to 2018. 25% of that drop was within the first quarter of 2018 hinting towards an acceleration of the trend. Gone are the days when people would consider being chained to long-term financial commitments, and data suggests they certainly don’t want to be locked to seven years of a car loan or even three year of a lease. A month-to-month subscription is a far better option for ever-changing lifestyles, and that’s exactly what you get from these subscription-based services. Essentially, it’s like a Netflix subscription for your car.
How Does Car Subscription Work Anyhow?
The user experience is essential and is one of the biggest problem that needs to be tackled in the traditional means of accessing a car. The subscription economy demands an experience which is as easy as booking your stay with Airbnb or getting your taxi from Uber.
To subscribe to your car, all you need is a driver’s license, national ID, payment details, and your mobile device – it’s just that simple! Everything happens through an online app, creating convenience and mobility while allowing you to subscribe whenever and wherever you choose.
The app provides variety of vehicles currently available through a network of authorized dealerships within a region. Once you have found the vehicle you want, you simply sign up for the car and select your pick-up details. The car will be waiting for users at the dealership where it is located and you will get driving within a couple of hours with no paperwork or hefty up-front security deposits and down-payments. In-fact most providers are working towards a pick-up and drop-off feature that would bring your car to you like the on-demand food delivery apps we love so much.
The best part is the freedom with no compromise on quality. You drive off in a top-quality vehicle that is neat, clean, and ready for your adventure! Users can drive where they please while enjoying the benefits of a comfortable vehicle and the freedom of the open road, all while feeling less pressure, as they are not chained to multi-year contracts and financial commitments.
When you’re done with the vehicle, you can simply return it to the dealership and walk away without any further commitments or penalties. At this point, you can even opt for a different car for your needs. This level of freedom and flexibility is what makes car subscriptions more appealing than purchasing or leasing.
Why Are So Many People Choosing Car Subscriptions
Most users don’t need a car for a few months out of the year. Yet, they’re forced to pay for the vehicle that they own or lease during the months they travel or times when they can just make-do with public transportation.
Why should you choose a subscription over leasing or purchasing? The traditional ways of accessing a vehicle may work for some but, if you value freedom, flexibility, variety, quality and convenience, month-to-month access to cars is likely your best option.
Again, the most important reason to choose car subscriptions is freedom. With car subscriptions, users are not chained to extensive contracts that come with leasing, nor are finances tied to a five- or seven-year loan that most people have when purchasing. Instead, people only commit to a month, and can stop using the service when they wish, giving personal finances and lifestyle greater freedom – be it traveling or providing for your family without feeling the burden of an auto loan.
One month, users may only need a small vehicle to commute to work; the next month, they may need a spacious SUV for your nationwide road trip. With car subscriptions, people enjoy a flexibility and variety with vehicles that can’t be achieved with other methods.
Who Benefits from Renting Over Buying, Leasing?
The truth is, anyone can benefit by using car subscriptions but specifically, people who value freedom, both in their personal lives and especially their finances, are flocking to car-subscription apps.
People with adventurous spirits who live life spontaneously and can’t stand the idea of being restricted are typical users of car subscriptions. Not just the explorers but think the caregivers who need cars without the financial burdens, the busy professionals and entrepreneurs who need a reliable access to cars on short notices and can’t be bothered with the hassle of maintaining one forever. And of course, the ones who want the larger than life experience of changing cars every month without having to file for bankruptcy.
Car subscriptions are changing the car-buying landscape. As tech reworks the industry, it will be exciting to watch as car subscriptions are adopted by more users.