Car subscription services are an increasingly popular way to get access to a car without the hassle of buying or leasing one. But what exactly is it, and how does it work? Here's a look at the basics of car subscriptions and how they can be beneficial for drivers.
What is a Car Subscription?
A car subscription is essentially a short-term lease option for people looking to drive a vehicle without a long-term commitment. With this type of service, you will pay a monthly fee that includes insurance, maintenance, roadside assistance and other perks, as well as unlimited mileage. You also have the flexibility to switch cars or cancel your subscription anytime you want - and all of this without needing to go through the traditional process of purchasing or leasing.
When Did Car Subscription Become a Service?
Car subscription services first emerged in Europe in the early 2010s and have become increasingly popular since then. Companies like BMW, Mercedes-Benz, Porsche and Volvo all began offering car subscriptions shortly afterward as a way to meet customer demand for more flexible options than traditional leasing or buying. These services are now also available in North America with companies like Steer EV, allowing drivers to get access to the car they want without being locked into a long-term contract.
What are the Benefits?
The biggest benefit of car subscriptions is definitely convenience and flexibility. You don't have to commit yourself to long periods; instead, you can sign up for a plan that works for your schedule and budget. There are also lower upfront costs than with buying or leasing a car since many services include maintenance and insurance in their monthly fee - reducing additional costs associated with having a vehicle.
How Do I Sign Up?
Signing up for a car subscription is relatively easy. First, you'll need to choose an approved provider such as Steer EV and we will do a background check and assign you to an EV that fits your budget. After that, the chosen vehicle will be delivered right to your doorstep so you can start driving it immediately.
Finally, with companies such as Steer EV offering electric vehicle subscriptions, drivers now have more options when choosing an eco-friendly ride while taking care of their pocketbooks at the same time.