Car Subscription Market Worldwide Industry Analysis and New Market Opportunities Explored
Possessing a car is the best thing for liberty of transport, and during this COVID-19 lockdown, the majority of public transportation is withdrawn for wellbeing purposes. So, during this critical time personal car is the best choice for moving self-reliantly. You can buy a car, but that may impact your bank while subscribing to one is the most suitable option to hold the balance.
The monthly rental charges cover the total registration, maintenance, insurance prices, and roadside assistance. There are numerous other advantages of car subscriptions, and we will discuss these in the following section.
Car Subscription Is a Cost-Effective Option
Buying a car is not cheap at all, and the registration and down-payment prices will charge you at least 2-3 lakhs at the time of buying the car. Also, you have to pay for the monthly EMIs, along with insurance and maintenance charges, and it does not even matter if you drive your car frequently or not.
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In the case of a rent-a-car subscription, you won’t have to pay for heavy down-payment and maintenance expenses. It needs a token refundable deposit of Rs. 15,000-20,000, which you will get back at the end of your subscription time. Also, from an economic perspective, subscriptions are way more useful than buying a car.
Drive the car in its trouble-free years
The average longevity of personal vehicles in India is more or less 9 years. So, if you want to own a car, you have to pay all the maintenance fees for a period of time, and as your cat gets older, the maintenance requirements will increase.
And last but not least, you must give up your car at a much cheaper price after years of maintenance. Now, the rental charges for your vehicle during that time you drive will only have to be paid in a subscription plan. So, you can drive the vehicle in its trouble-free years and after the tenure just change the car.
Subscription plans include all-inclusive prices
The numerous charges for possessing a personal car range from daily maintenance, vehicle, pollution certificate, registration, maintenance, servicing, taxation, and insurance payments. It commonly becomes riskier to handle all the cash flows on a monthly basis. In the case of a car rental, you only have to pay the rent for the flexible tenure, and the more the tenure, the less will be the rental cost.
