The last year has proved that for many drivers, the way in which they use their vehicles has changed. With more and more people now working from home, the rise of the bicycle-friendly city centre and home-delivery groceries, many have found that their needs for a vehicle have changed.
Adopters of the subscription model of vehicle use have found that the flexibility afforded by the choice of subscription terms is a huge bonus. With vehicle subscriptions starting at just one month in length, users can enjoy the use of a private car when they need one but without being tied into a long contract for the times when they don’t.
This scenario has been brought into sharp focus for many by the past 12 months. With over two million British motorists having taken out some form of personal finance contract on a new vehicle in 2019, figures have shown that a staggering 80% of these vehicles went unused for up to 6 months of last year.
In fact, figures suggest that a staggering billion pounds was spent by motorists on loan and lease payments for vehicles they weren’t even driving.
And in the context of this, many motorists are now asking themselves whether traditional routes to vehicle ownership are really for them or if, instead, shorter term car use for a fixed cost is the way forward.
And, just like a mobile phone contract, there’s another great benefit to car subscription – the upgrade.
With the ability to choose subscription lengths of between one month and 24 months, customers can always be behind the wheel of the latest model, banishing car envy to the rearview mirror forever.
Imagine, running a Range Rover 4x4 in winter and swapping it for the latest Porsche convertible in July. Or what about having a family runaround for the colder m and then handing it back in favour of pedal power in the summer.
The huge increase in interest in vehicle subscriptions seen in recent months certainly points towards shifting consumer behaviour and the experts agree. Before the pandemic it had been predicted that by 2025 – just four years from now – vehicle subscription will account for more than 10% of all new registrations.
However, the effects of lockdown appears to have accelerated the shift and for many of us, the flexibility offered by a Wagonex subscription must be a consideration when choosing our next vehicle.
Consumer habits have been changing across the board over a number of years, and more and more, people are looking for a more convenient and flexible alternatives to some of the more traditional ownership models, when it comes to purchases.
Whether it’s mobile phones or meal boxes, roses or razor blades, consumers are increasingly enjoying the benefits of online purchasing in their everyday lives, so, why should car buying be any different?
If choosing a new car can be made easy and transparent as signing up for Netflix or Hello Fresh, and if the consumer has a clear choice of what is included and for how long, then many of the traditional friction-points to car ownership are removed at once.
A completely fresh alternative for those looking for a new car; with Wagonex’s technology, vehicles can be ordered online and delivered direct to the doorstep for anything between one and 24 months. It’s so easy, even the insurance and maintenance can be covered for a completely hassle-free usership experience.
For customers already well used to the subscription model, it’s an exciting and enticing option, and for dealerships and leasing companies looking to attract new buyers, the appeal is just as clear.
With innovative car dealerships now embracing the vehicle subscription service that Wagonex provides and offering would-be-buyers access to the car of their dreams, without the financial risks of outright purchase or the inflexibility and long-term financial commitment of leasing - It’s a win-win.