Car subscriptions entering the vehicle market: What you need to know
2 months ago
ATLANTA - Buying a vehicle is a big purchase., and these days outside too many budgets. This is why a new car trend is emerging - car subscriptions.
Getting from point A to point B happens a lot of ways these days. Sure, you can still own a vehicle, but you can lease one, too. Or, you can rent if you don’t need one regularly. Of course, some folks just rely on ride-share or public transportation.
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But car subscriptions are new. It’s a process that’s closer to what you know as leasing than anything else. A lease, though, locks you in for two to three years. A vehicle subscription is something you can do month to month, even changing out a new vehicle each time. Often included are insurance, maintenance, and roadside assistance.
There’s a lot of flexibility, but it’s also still a bit pricey.
Car subscription pros and cons
Car subscriptions mean you own nothing. But, it allows you to test out vehicles, if you are in the market for buying but aren’t sure what to get yet. This will likely cost more than leasing. But, you can stop if you get tired of it, unlike a lease which locks you in. Car subscriptions are not nationwide just yet. But, Atlanta is a big city with many options.
Sixt, Finn, and Autonomy are companies dedicated to vehicle subscriptions. Big name carmakers like Porsche and Volvo offer the service as do some rental car companies. SteerEV loans out electric vehicles.