The recent cost of living increases have certainly put the squeeze on our collective wallets leading many to cut costs wherever possible. We’re all looking for ways to make our money stretch a little further, but did you know that by switching to a car subscription could save you money as well as hassle?
Here we explore five top reasons why you should consider a car subscription to not only simplify your live but also to save some money as you go.
Car Subscriptions are Affordable
When comparing the monthly cost of a financed vehicle verses a subscription vehicle, the payments on a subscribed vehicle are more often times than not cheaper than a financed car. However, what we need to consider is that there’s also additional costs when buying a car: Road tax, MOT, regular maintenance, roadside assistance and insurance.
Depending on where you get your subscription car from, many of these additional costs are included in the monthly fee. On top of this, often times there’s no initial down payment or deposit. A car subscription is an affordable option for easy budgeting with an all-inclusive monthly payment.
A Car Subscription means Peace of mind
Because most car subscription cars are between 6-12 months old, you can rest assured that your vehicle will come with a factory warranty remaining. Also with regular maintenance included in the price, there’s no need to worry about the cost of having your car serviced.
Oftentimes, car subscription companies will include round the clock breakdown coverage in the price so that you’re protected at no additional cost in case disaster strikes.
You Get to Try Before You Buy
Whether you just fancy an occasional change of pace, or you simply would like to try out a particular vehicle before you commit, a car subscription offers the flexibility to swap to a different vehicle hassle free with access to the latest car models as they come out. It’s the perfect option for those who prefer to drive something new.
This ability to upgrade or even downgrade is also helpful for when life throws you a curveball – whether your work situation has changed, or if your family is about to get bigger.
No Depreciation
When purchasing a vehicle, the moment you drive off the dealership forecourt, the car’s value starts to depreciate. In the UK, the average car depreciates by 15-18% in its first year alone. This means that if you buy a £20,000 car for example, it will be worth around £17,000 after the following year. Over time, the depreciation will continue, and the car will be worth even less.
With a car subscription, you can avoid the pain and hassle of depreciation. You simply pay a monthly fee to use the car, and you don’t have to worry about its resale value. This can save you a significant amount of money in the long run.
Flexible, Hassle-Free and no Commitments
Buying a car can be a major financial commitment. There’s the large down payment to pay up front, high monthly payments, shopping around for the best insurance quote, and the cost of regular maintenance. In addition to this there’s also the hassle of selling the car when you’re done with it.
With a car subscription, you can avoid all of these headaches. You simply pay a monthly fee to use the car and the company takes care of everything else.
List
As you can see, there are many reasons why you should consider a car subscription. They are affordable, flexible, hassle-free, and can save you money in the long run. If you are looking for a new way to enjoy a car, car subscription is a great option.
To learn more about car subscriptions and their benefits, visit Flexed.co.uk for more information.
