For auto enthusiasts, few things can rival the excitement of getting behind the wheel. In the past, getting behind the wheel first required drivers to buy, lease or rent a vehicle. But a new option is drawing interest from drivers.
Car subscription services are in their infancy, so the options available to drivers are changing. But understanding car subscription services may give motorists on the lookout for new wheels something to think about.
What are car subscription services?
According to the online automotive resource Edmunds.com, drivers who utilize car subscription services do not actually own the cars they drive. So in that regard, subscription services are not different from leasing. Many people who lease vehicles like that leases, which typically last 36 months, do not require long-term commitments, meaning drivers won't be on the hook for the kinds of major repairs that are common as vehicles age. The same benefit applies to car subscription services.
Are car subscription services available everywhere?
Many auto manufacturers are still testing the concept of car subscription services, so they may not be available to drivers in all corners of the globe. Various programs are currently available in the United States and Europe, and Canada's first program was set to launch sometime in 2018.
How much do car subscription services cost?
Of course, cost is one of the biggest considerations drivers have when looking to buy or lease new vehicles. That likely won't change among drivers interested in subscription services. Edmunds notes that subscription services allow use of a car for an all-inclusive monthly fee, which usually includes insurance, roadside assistance and maintenance. Monthly fees vary considerably based on the type of car drivers are interested in. For example, Book by Cadillac was launched in early 2017 and costs around $1,800 per month for access to various Cadillac models, while Ford's Canvas subscription services may cost less than $400 per month. (Editor's note: Fees may have changed since this story was written.)
Do I drive the same car all the time?
Many subscription services allow drivers to switch vehicles if ample notice is given ahead of time, though the number of times drivers can switch vehicles may be limited. This benefits people who may only need a fuel-efficient sedan to get to and from the office, but still want something larger for weekend road trips. Options vary, and switching vehicles may come with a fee, so drivers should inquire about the flexibility of a service before signing up.
Car subscription services are a relatively new option for drivers.
