Why is Car Subscription Better Than Car Buying?
Car subscriptions are gaining in popularity. In fact, car companies are increasingly opening up to the concept of car subscriptions. Unlike leasing a vehicle, which often involves a third party, subscription-based models allow car manufacturers to contract out their cars directly. This has left many of us wondering about the advantages and disadvantages of car subscription VS car buying. Which is better? Which should we choose?
Just like subscribing to Netflix, Spotify, Apple iTunes, or any streaming provider, you can do the same thing with a car. With vehicle subscriptions becoming more well-known, the car industry grows, and automakers are becoming more passionate.
What is a Car Subscription? How Does It Work?
When you buy a new car, you need to shell out a down payment and additional fees for insurance, taxes, and more. Car subscriptions are simple. You become a subscriber by paying a monthly fee to use a fleet of cars that a company offers. You have access to tons of amazing perks, including a concierge priority service that will be with you every step of the way.
In addition to that, this recurring fee also covers the cost of insurance, maintenance, roadside assistance, and more. Depending on the contract, you can choose when and where you want to drive your cars and change the model anytime.
Is Car Subscription the Next Big Thing?
By 2024, car subscriptions are predicted to expand to $9.15 billion with a projected 63 percent compound annual growth rate or CAGR. According to a 2019 research from Ipsos, in 2022, the car subscription market will grow by a massive 71 percent.
Nowadays, many independent companies and car manufacturers are jumping on the bandwagon of car subscriptions. Why? Because it is the most convenient, most accessible, and affordable way of driving your dream car. One of the best parts of a car subscription service is that you don't need to stick to a vehicle for a long time as you can change to another model at your will. This way, you can change the car type as and when you wish to.
For more information regarding car subscriptions and to sign up for its service, visit https://www.t4l.me and get invested in an innovative transportation lifestyle.
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