Why would you buy or lease one car when you can have access to several?
That’s the whole idea behind car subscription services. For a monthly fee, subscribers can literally have it all: insurance, registration, maintenance and, perhaps most alluring, variety. The rates range from a few hundred to thousands of dollars each month based on the caliber of vehicles the subscriber would like to access, and mileage usage. Companies such as Volvo, Cadillac, and Porsche offer subscriptions to their own brands. But you don’t have to be limited to one automaker. Brands like FlexDrive allow drivers to literally take their pick of the lot. Thinking of trying one out. Here’s what you should know before you pull up.
If you’re thinking the car subscription life is for you, here’s a few things you should know before you pull up.
Good Credit History
Strong credit scores are a great thing to bring to any business negotiation table. Though some car subscriptions are memberships and others are programs, you’ll get your vehicles from a sales associate, and having a 700+ is a great bargaining chip.
Solid Driving Record
Since car subscriptions are all about the trade-ins, companies are looking for responsible drivers who won’t return inventory with a rack of tickets or ding up their vehicles. They want to keep their cars out of the shop or inbound, and on the road. Make sure you have at least a year of no incidents for best rates.
Varied Subscription Options
You can use a car for a few days or weeks, depending on the package you select. Some offerings also allow you to switch more than automakers, you can also upgrade size and caliber of vehicles you pick. For example, you may want a basic sedan one month and a luxury SUV the next. It all depends on which car subscription service you select.
Think About Your Needs
Car subscription companies realize that consumers have different needs. Some drivers are looking to escape the responsibilities that accompany car ownership or leasing, others are looking for variety and luxury. The goal is to partner with the company that offers the best packages based on your needs and budget.