I think the problem is that it is one monthly fee. People get sticker shock, while when the expenses of operating a vehicle are split up into multiple pieces, some folks at least mentally hide the total expense from themselves.
I find the subscription service makes sense especially for areas or a person that has high insurance rates or has low credit or in some case is needing there credit clear for a major investment or house purchase. Subscription service is also good for a person that needs use of multiple cars and doesn’t want the over head. One of the best parts is little to no money down
If the cost of this service isn't less than the cost of purchasing and insuring the same vehicle on your own, the only use I see for it is as an extended test drive before dropping big money on a high dollar car.
Subscription model seem a good program for rental car companies rather than dealerships to run. For a fixed price, you would have access to an auto anywhere in the US. Auto rental companies have established relationships with insurers, service, and access to many types of vechiles. $750 seems too cheap. A one week rental for a luxury car at Hertz is going to cost you $500+.
I dont know if you guys have done this, but please make a video of good first cars to buy . Good Gas milage , efficiency, reliability, good price , maintenance, etc
A lot of dealerships nowadays offer these services under 'long term rentals'. When you factor in the US average monthly car payments plus insurance, these subscription services are worth it if you can afford it. I'd assume that you'll definitely need good credit to qualify for something like this.
If this was a good business model, the rental car companies would have already done it. It’s a solution in search of a problem. So far, all of these subscription service programs have failed or been cancelled by the manufacturers. This is a luxury service, and people who can afford $2600/mo for a car are also able to afford just buying a few cars that they like, and they can afford insurance and maintenance, too.
The subscription sounds like a good way to try out a car for a month before deciding to buy one. Is the $750 subscription for lower cost cars like Honda, Toyota, etc? I don't think you'd get a Porche 911 for that price.
It would be great if you can elaborate on this topic more. It sounds better than getting multiple rental cars a month. Does it come with stipulations on miles?
I'm returning to the US from SE Asia this winter or early spring. My plan is to buy a new F-150 when I return. But one day while I was in the shower, I thought I really on;y need a vehicle 2 or 3 days a WEEK. Enterprise or some entity like them should offer some form of fractional ownership, like NetJets does with aircraft. I'm retired, so having a truck Tues, Wed & Thursday is fine for me. Let some guy with a full time job have it Fri, Sat & Sunday. It seems to make a lot of sense to me. They deliver it to my house on Tuesday AM, clean & ready to go, & they pick it up Thursday PM, clean & service it as necessary, and deliver it to the working guy sometime Friday. Remember folks, there's no off position on the genius switch.
Considering how many people lease vehicles rather than buy them, maybe for them a subscription service makes some kind of sense. But like leasing, you are paying a lot for the driving something you don’t own and probably never will. Some people never own their own homes either and just rent from the bank but that is a pretty expensive deal also. I guess if you have money to burn...!
subscription services can ben terminated at anypoint if the company cloes down or gets brought out or goes bankrupt or if the just stop making that car model anymore.
The "OUT THE DOOR PRICE" on 'youautoadvocate.com'....do you input the agreed upon price into the box to calculate and taxes are figured on the agreed upon price?...OR are is the tax paid always based on MSRP-before discounts and agreed upon price?
Will the subscription force me to change my auto insurance? If I have been with company XY for five years but the package lists company AB as its preferred insurance provider, will I lose my loyalty rewards for staying with company XY for five years?
That kind of money, without gaining any equity? NUTS !! No one is going to offer a deal without the expectation of taking the consumer to the cleaners. Folks who buy into that plan deserve what they get.
A couple of things I see wrong with this just off the top of my head; First is on a vehicle that's new or a couple of years old the maintenance should be included in the warranty so why would you pay extra for this. Second given the history of how people treat rental vehicles i don't think I would spend that type of money for a subscription service. Third what if the vehicle was used in a crime and you get arrested, even though you could probably prove your innocence but just think of the hassle one would go through. Thanks my two cents.
Too expensive. Subscriptions only work if they offer a lot of variety for super low price so that they can appeal to a mass market. You would go bankrupt trying to buy each individual title on Netflix. Whereas the price you pay for car subscriptions is very similar to the price of a car loan, except you get to keep the car after paying off the loan. They need to realise their market isn't people who can afford cars. Their market is people who cant afford cars. I pay $30 per month for public transport. I allocate $150 per month for Uber to take me where pubic transport cannot. Thats $2160 per year in transport costs. Now if I could subscribe for my own car at $2400-$3600 a year, that woud be an instant deal i couldn't say no to. Otherwise it's pointless.
I think the problem is that it is one monthly fee. People get sticker shock, while when the expenses of operating a vehicle are split up into multiple pieces, some folks at least mentally hide the total expense from themselves.
I find the subscription service makes sense especially for areas or a person that has high insurance rates or has low credit or in some case is needing there credit clear for a major investment or house purchase. Subscription service is also good for a person that needs use of multiple cars and doesn’t want the over head. One of the best parts is little to no money down
If the cost of this service isn't less than the cost of purchasing and insuring the same vehicle on your own, the only use I see for it is as an extended test drive before dropping big money on a high dollar car.
Subscription model seem a good program for rental car companies rather than dealerships to run. For a fixed price, you would have access to an auto anywhere in the US. Auto rental companies have established relationships with insurers, service, and access to many types of vechiles.
$750 seems too cheap. A one week rental for a luxury car at Hertz is going to cost you $500+.
I dont know if you guys have done this, but please make a video of good first cars to buy . Good Gas milage , efficiency, reliability, good price , maintenance, etc
Sounds very intriguing to me, curious though how licensing and registration would work?
The car is owned by the dealer and they pay all fees which is included in your subscription plan
A lot of dealerships nowadays offer these services under 'long term rentals'. When you factor in the US average monthly car payments plus insurance, these subscription services are worth it if you can afford it. I'd assume that you'll definitely need good credit to qualify for something like this.
Great executive package
Y’all are hilarious, candid, and knowledgeable. Great combinations. 👍🏾👍🏾👍🏾
If this was a good business model, the rental car companies would have already done it. It’s a solution in search of a problem.
So far, all of these subscription service programs have failed or been cancelled by the manufacturers.
This is a luxury service, and people who can afford $2600/mo for a car are also able to afford just buying a few cars that they like, and they can afford insurance and maintenance, too.
I really enjoy father and son team work videos. Great info!
In real estate it’s all about location location location , trading likes for a tat would put a whole new meaning on this well known phrase.
The subscription sounds like a good way to try out a car for a month before deciding to buy one. Is the $750 subscription for lower cost cars like Honda, Toyota, etc? I don't think you'd get a Porche 911 for that price.
If your a snowbird from Canada can you subscribe to a car for a winter month in Florida, Hawaii, Arizona or Nevada?
It would be great if you can elaborate on this topic more. It sounds better than getting multiple rental cars a month. Does it come with stipulations on miles?
I'm returning to the US from SE Asia this winter or early spring. My plan is to buy a new F-150 when I return. But one day while I was in the shower, I thought I really on;y need a vehicle 2 or 3 days a WEEK. Enterprise or some entity like them should offer some form of fractional ownership, like NetJets does with aircraft. I'm retired, so having a truck Tues, Wed & Thursday is fine for me. Let some guy with a full time job have it Fri, Sat & Sunday. It seems to make a lot of sense to me. They deliver it to my house on Tuesday AM, clean & ready to go, & they pick it up Thursday PM, clean & service it as necessary, and deliver it to the working guy sometime Friday. Remember folks, there's no off position on the genius switch.
Great information
What kinda of limitation are you seeing on this type of short term lease. Miles per month, etc....deductible of leasee if insurance claim is used
Considering how many people lease vehicles rather than buy them, maybe for them a subscription service makes some kind of sense. But like leasing, you are paying a lot for the driving something you don’t own and probably never will. Some people never own their own homes either and just rent from the bank but that is a pretty expensive deal also. I guess if you have money to burn...!
Definitely the future, with self driving cars and smart technologies I think a car would become less appealing to own but still a necessity.
Any idea what the market size for car subscriptions is in Canada?
subscription services can ben terminated at anypoint if the company cloes down or gets brought out or goes bankrupt or if the just stop making that car model anymore.
The "OUT THE DOOR PRICE" on 'youautoadvocate.com'....do you input the agreed upon price into the box to calculate and taxes are figured on the agreed upon price?...OR are is the tax paid always based on MSRP-before discounts and agreed upon price?
Awesome 🙋🏻♀️👍thank you
Will the subscription force me to change my auto insurance? If I have been with company XY for five years but the package lists company AB as its preferred insurance provider, will I lose my loyalty rewards for staying with company XY for five years?
Sounds GREAT !
"You will own nothing and you will be happy "
This is the first I've heard of this. Probably why it didn't do so well.
That kind of money, without gaining any equity? NUTS !! No one is going to offer a deal without the expectation of taking the consumer to the cleaners. Folks who buy into that plan deserve what they get.
In states like VA who is responsible for the personal property tax on the vehicle?
Scott, the buyer pays the personal property tax. Stay safe and thanks for watching, Ray
A couple of things I see wrong with this just off the top of my head; First is on a vehicle that's new or a couple of years old the maintenance should be included in the warranty so why would you pay extra for this. Second given the history of how people treat rental vehicles i don't think I would spend that type of money for a subscription service. Third what if the vehicle was used in a crime and you get arrested, even though you could probably prove your innocence but just think of the hassle one would go through. Thanks my two cents.
I wish it was in the 700 dollar range for an older 911 that sits in the lot for too long.😄
Zach
Show us all your tattoos Zach
Too expensive. Subscriptions only work if they offer a lot of variety for super low price so that they can appeal to a mass market. You would go bankrupt trying to buy each individual title on Netflix. Whereas the price you pay for car subscriptions is very similar to the price of a car loan, except you get to keep the car after paying off the loan.
They need to realise their market isn't people who can afford cars. Their market is people who cant afford cars. I pay $30 per month for public transport. I allocate $150 per month for Uber to take me where pubic transport cannot. Thats $2160 per year in transport costs. Now if I could subscribe for my own car at $2400-$3600 a year, that woud be an instant deal i couldn't say no to. Otherwise it's pointless.
Please U must to know if FINN SUBSCRIPTION are real car company or scam ???
hello there
I just did FLex Car, and it is HORRIBLE. DON'T.