Car subscription works by offering vehicles that have passed that initial fast depreciation stage, allowing consumers to pay a lower monthly payment on a car with no commitment. The big mental shift for those interested in ‘subscribing to’ their next vehicle is that you likely won’t be driving freshly minted new cars.
Are you in the market for a car, but don’t want the commitment of owning one? Ride sharing and car sharing can be a convenient alternative, but a new type of service, known as car subscriptions, aims to fill in the gaps between these models. And several major car manufacturers are placing big bets on the space.