• About Us
  • Contact Us
  • Latest
  • Terms and Conditions
  • Privacy Policy
The Frisky
  • Home
  • News
  • Health
  • Celebs
  • Movies
  • Love
  • Relationships
  • Style
  • Entertainment
  • Parenting
  • Royals
  • Travel
CarsHow to ...

Why Millennials Should take a Close Look at Car Subscriptions

by Petar Senjo October 16, 2020
by Petar Senjo October 16, 2020 Image source: unsplash.com
2.8K

If you haven’t heard yet: car subscriptions are hailed as the next big thing in automotive for millennials. But what is the difference between classic leasing and other traditional financing options? And what is the main selling point? Let’s have a look!

In a time when Netflix, Spotify, and other services are making an abundance of content available on-demand with a click of a button – and only for a small monthly fee – it is easy to think of buying a car in cash as antiquated. Well, in the past few decades there has been some progress. For once, more and more people are leasing their vehicles. But what they trade-in inconvenience, they play with a lack of flexibility and, in a way, freedom. Let me explain: most leasing contracts are for 3-6 years, you are stuck with a specific car that may or may not satisfy your evolving requirements (think kids!) and you still have to pay taxes, insurance, and other annoying paperwork.

Here is where car subscriptions come in to save the day! You simply browse the inventory of the many providers out there, find your dream car, and – with the click of a button – subscribe to it. A few days or weeks later you will have your new ride in the driveway. Okay, so far so good. But isn’t that just like leasing or financing a car? Well, not exactly because a car subscription typically features a few distinct value-adds not found in the traditional leasing model.

Contents

  • Short minimum contract lengths for Maximum Flexibility
  • One monthly price for everything
  • No large outlay of cash
  • General thoughts
    • The freedom of multiple choices
    • The only possible downside
    • It’s about to become viral

Short minimum contract lengths for Maximum Flexibility

Image source: unsplash.com

Where in the past you were stuck with your car for several years, a car subscription typically runs only 3,6 or 12 months. At the end of the period, you can opt to keep the same car or trade it in for something more suitable. Which is perfect because you won’t have to worry about your car getting old and breaking down on you. If you do have an older car and need to sell it before getting a car subscription, WeBuyTotaledCars can give a quick quote.

One monthly price for everything

You only pay one, predictable monthly fee and that’s it. Taxes, insurance, maintenance, and even the cost of depreciation – it’s all there. The only need to do is fill the tank or the batteries!

No large outlay of cash

Image source: unsplash.com

Especially for younger people, buying a new-ish car is a costly endeavor. If you are lucky enough to buy cash, you save on interest but immediately burn a massive hole in your wallet. If you finance or lease the car, you will need to go through a rigorous assessment of your finance if you already have a credit score that allows for the transaction anyway.

This also allows students to have more financial freedom and not end up in all sorts of debts due to the immense costs they have at that particular stage of life. By considering a subscription you won’t have to borrow a large sum of money for one initial purchase. Instead, you can put a small amount on the side every month and you’ll constantly have an access to a vehicle. Then, if you ever change your mind or you simply regret your choice, switching is very, very easy.

The millennial generation, that tends to value ‘mobility’ and ‘flexibility’ in favor of ‘possession’ and ‘status symbols’, has a much easier way to their first car than ever before. Plus, a lot of the subscription cars are brand new, fitted with economic conventional engines or batteries!

General thoughts

Millennials nowadays expect the convenience of buying a car that they are used to from consuming content on streaming platforms like Netflix and Spotify. In times of Same-day deliveries and e-Scooters on every street corner, it will be difficult for big automotive companies to stand by idly. In fact, many of them are embracing the new model, including Cadillac, Volvo, and the Volkswagen Group.

If you are interested in car subscriptions, check out sites like Abopiloten.

The freedom of multiple choices

Image source: unsplash.com

Millennials are everything but traditional, and that’s not a secret. A few generations ago people had only one goal, to purchase the most reliable car and use it for as long as it runs, not even thinking about switching to anything else unless they really have to. However, millennials nowadays have a completely different mindset. We live in an age where we’re bombarded by information constantly and we see all types of content on the internet. Most of us like to live a free life, just like the ones they present us on social media and in music videos. Let me simplify.

We want multiple cars, we want choices. However, it’s not easy to become rich enough to permanently purchase all these vehicles. So, the next convenient solution for this “problem” is to actually use a subscription service.

Whenever we get bored with a vehicle, or our needs change, we are not bound down to using what isn’t satisfying enough anymore. Some students use their same first car for more than eight years, but in eight years life can change drastically. Maybe you purchased that car when you were still living alone and starting college, but eight years later you can have a fully-formed family with multiple kids. What I’m trying to say is that needs change, and so should our vehicles.

The only possible downside

Something that people consider a downside when it comes to subscribing for a vehicle is not enough availability provider-wise. Some providers are still not very flexible with this paying option yet, and in some countries, this concept doesn’t even exist. So, we cannot really say whether this particular option is the best choice for you or not, but it’s definitely something that you need to consider if your situation is similar to what we described in the content above.

It’s about to become viral

Image source: unsplash.com

This paying method will become quite famous in the next couple of months. It was about time for sellers to find a solution that allows students and other younger folks to secure transport for themselves without totally breaking their economy. So, we expect this to become an available option for a lot of brands and in many different countries in the near future.

#tenyearchallengeCar BuyinggenerationmillennialsPriceSubsriptionVehicle
Petar Senjo

A creative writer with a keen eye for SEO. Combining his love for the latest news with his expertise in search engine optimization, Petar delivers impactful content that resonates with readers.

previous post
6 Pros and Cons of Modern Self-driving Cars – 2024 Guide
next post
5 Ways Pneumatic Tube Systems Are benefiting Banks – 2024 Guide

Related Posts

BetB2B: iGaming Business Must Take Into Account the...

November 28, 2023

Some Reasons Why Vaping Is Becoming Fashionable With...

November 19, 2023

9 Common Mistakes to Avoid When Choosing Your...

September 14, 2023

Categories

  • Accessories
  • Animals
  • Anime
  • Art
  • Astrology
  • Beard Care
  • Beauty
  • Betting
  • Biography
  • Blog
  • Business
  • Buying Guides
  • Cannabis
  • Cars
  • Casino
  • CBD
  • Celebs
  • Children
  • Citizenship
  • Clippers
  • Clothes
  • Computer
  • Couple Time
  • COVID-19
  • Crime
  • Crypto
  • Culture
  • Design
  • DIY
  • Economics
  • Education
  • Entertainment
  • Environment
  • Family
  • Fashion
  • Featured
  • Food
  • Food & Drink
  • Furniture
  • Galleries
  • Gambling
  • Games
  • Gardening
  • Gifts
  • Girl
  • Gossip
  • Guide
  • Guys
  • Hair
  • Hair Care Tips
  • Hair Dryers
  • Hair loss
  • Hairstyles
  • Health
  • Highlights
  • History
  • Hobby
  • Home
  • Horoscopes
  • Hot Rollers
  • How to …
  • Industry
  • Internet
  • Interview
  • Law
  • Legal Advice
  • Life
  • Lifestyle
  • Love & Sex
  • Love Your Self
  • Makeup
  • Marketing
  • Medicine
  • Mind & Body
  • Money
  • Motorcycle
  • Movies
  • Moving
  • Music
  • Nails
  • Net Worth
  • News
  • Parenting
  • People
  • Pets
  • Photography
  • Products for Hair
  • Real Estate
  • Recipes
  • Relationships
  • Religion
  • Royals
  • SEO
  • Shopping
  • Skincare
  • Sports
  • Studying
  • Style
  • Super Stars
  • Tech
  • Technology
  • The Body
  • Tips
  • Tips & Tricks
  • Tools
  • Toys
  • Travel
  • Type
  • Uncategorized
  • Vape
  • Vehicle
  • Video
  • VR
  • Wedding
Footer Logo
  • About Us
  • Contact Us
  • Latest
  • Terms and Conditions
  • Privacy Policy

© 2024 - All Right Reserved.

TheFrisky.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. Amazon, the Amazon logo, AmazonSupply, and the AmazonSupply logo are trademarks of Amazon.com, Inc. or its affiliates.

We at TheFrisky participate in various affiliate marketing programs, which means we may earn commissions on products or services that we recommend or promote through our website. When you click on a link to purchase a product or service that we have recommended or promoted, we may earn a commission from the sale. This commission helps us maintain and improve our website and provide you with valuable information and resources.

The Frisky
  • Home
  • News
  • Health
  • Celebs
  • Movies
  • Love
  • Relationships
  • Style
  • Entertainment
  • Parenting
  • Royals
  • Travel
The Frisky
  • Home
  • News
  • Health
  • Celebs
  • Movies
  • Love
  • Relationships
  • Style
  • Entertainment
  • Parenting
  • Royals
  • Travel
© 2024 - All Right Reserved.

TheFrisky.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. Amazon, the Amazon logo, AmazonSupply, and the AmazonSupply logo are trademarks of Amazon.com, Inc. or its affiliates.

We at TheFrisky participate in various affiliate marketing programs, which means we may earn commissions on products or services that we recommend or promote through our website. When you click on a link to purchase a product or service that we have recommended or promoted, we may earn a commission from the sale. This commission helps us maintain and improve our website and provide you with valuable information and resources.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkNoPrivacy policy

Terms and Conditions - Privacy Policy