All-inclusive car subscriptions. Would you?
Discussion
Does the idea of an all-inclusive car subscription with no deposit and a rolling monthly contract featuring insurance, maintenance, servicing and even free charging in the case of an EV, appeal to you?
I’ve never financed a car and have stuck with older used cars as a result, but really see the appeal of this properly all-inclusive setup, since this should cover literally all your car costs. Yes, I’d still want to keep an older fun car, but see this as a good way of accessing a daily driver. Am I alone?
I’ve never financed a car and have stuck with older used cars as a result, but really see the appeal of this properly all-inclusive setup, since this should cover literally all your car costs. Yes, I’d still want to keep an older fun car, but see this as a good way of accessing a daily driver. Am I alone?
If I PCP a new car, I'd expect the costs to be pretty predictable anyway. Servicing should be a fairly predictable cost, I wouldn't expect much else to go wrong or would expect warranty to cover it. Insurance I probably pay less than 'average' anyway so would be better off doing that separately. EV charging would be mostly at home so not sure how much I'd get out of free fast charging. And depreciation is at worst the total cost of deposit + monthlies, known up front.
So, I see the appeal of buying or PCPing a new car with a warranty, because costs should be predictable. However I'm not convinced that what you're suggesting offers much useful benefit over that. Also I'd like with a PCP to have the option to pay the balloon and keep the car if I'm getting on with it and resale value is higher; having to return it would be a negative to me.
RoVoFob said:
Does the idea of an all-inclusive car subscription with no deposit and a rolling monthly contract featuring insurance, maintenance, servicing and even free charging in the case of an EV, appeal to you?
I’ve never financed a car and have stuck with older used cars as a result, but really see the appeal of this properly all-inclusive setup, since this should cover literally all your car costs. Yes, I’d still want to keep an older fun car, but see this as a good way of accessing a daily driver. Am I alone?
Depends on the price and the car..I’ve never financed a car and have stuck with older used cars as a result, but really see the appeal of this properly all-inclusive setup, since this should cover literally all your car costs. Yes, I’d still want to keep an older fun car, but see this as a good way of accessing a daily driver. Am I alone?
Say, separately it costs £300 for the car, £100 for fuel, £50 insurance and £15 road tax and the all-inclusive was £464, then yes. £466 then no.
I’m currently doing this but not through choice per se. I’m in Romania for the next 12 months and needed a car; a 12 month rental through Avis et al, even at corporate rates was about 1300 Euro for a polo or similar. Owing a car privately is tricky for non-nationals. Managed to rent a Toyota Corolla sedan inc insurance, maintenance, winter tyres etc through a dealership here for a few hundred euro a month all in. Just one monthly payment and nothing else to worry about. It’s a white good car, nice to drive, gets me about and that’s all I need/want.
Would I do this back in the UK? Possibly, for a daily. My employer just introduced an Electric Car Scheme via salary sacrifice that includes insurance, maintenance etc for one monthly sum. Ideal if you just need a car; not so much if you want something you want to work on/modify yourself.
Would I do this back in the UK? Possibly, for a daily. My employer just introduced an Electric Car Scheme via salary sacrifice that includes insurance, maintenance etc for one monthly sum. Ideal if you just need a car; not so much if you want something you want to work on/modify yourself.
Edited by parabolica on Thursday 15th September 13:22
samoht said:
If I PCP a new car, I'd expect the costs to be pretty predictable anyway. Servicing should be a fairly predictable cost, I wouldn't expect much else to go wrong or would expect warranty to cover it. Insurance I probably pay less than 'average' anyway so would be better off doing that separately. EV charging would be mostly at home so not sure how much I'd get out of free fast charging. And depreciation is at worst the total cost of deposit + monthlies, known up front.
So, I see the appeal of buying or PCPing a new car with a warranty, because costs should be predictable. However I'm not convinced that what you're suggesting offers much useful benefit over that. Also I'd like with a PCP to have the option to pay the balloon and keep the car if I'm getting on with it and resale value is higher; having to return it would be a negative to me.
Interesting. I wouldn’t want to have a PCP and pay a premium for finance without having the full convenience of the super-flexible, all-inclusive setup. Seems like a high cost but without much convenience for it to me. Completely get what you’re saying about home charging, though.So, I see the appeal of buying or PCPing a new car with a warranty, because costs should be predictable. However I'm not convinced that what you're suggesting offers much useful benefit over that. Also I'd like with a PCP to have the option to pay the balloon and keep the car if I'm getting on with it and resale value is higher; having to return it would be a negative to me.
Can imagine using this kind of format for a practical EV daily, while keeping an older, interesting petrol car that I own. Would I use it if I only had one car? Probably not.
mcflurry said:
Depends on the price and the car..
Say, separately it costs £300 for the car, £100 for fuel, £50 insurance and £15 road tax and the all-inclusive was £464, then yes. £466 then no.
Does flexibility have no value? Part of me quite likes the idea of getting a bigger, nicer car for summer trips then swapping to something mundane and practical for the rest of the year.Say, separately it costs £300 for the car, £100 for fuel, £50 insurance and £15 road tax and the all-inclusive was £464, then yes. £466 then no.
I normally wouldn’t want to pay just for convenience, but some of the all-inclusive prices seem pretty good value compared with equivalent finance setups that require deposits, long contracts and aren’t very flexible.
parabolica said:
I’m currently doing this but not through choice per se. I’m in Romania for the next 12 months and needed a car; a 12 month rental through Avis et al, even at corporate rates was about 1300 Euro for a polo or similar. Owing a car privately is tricky for non-nationals. Managed to rent a Toyota Corolla sedan inc insurance, maintenance, winter tyres etc through a dealership here for a few hundred euro a month all in. Just one monthly payment and nothing else to worry about. It’s a white good car, nice to drive, gets me about and that’s all I need/want.
Would I do this back in the UK? Possibly, for a daily. My employer just introduced an Electric Car Scheme via salary sacrifice that includes insurance, maintenance etc for one monthly sum. Ideal if you just need a car; not so much if you want something you want to work on/modify yourself.
I discovered the other week that renting a Kia Picanto from Hertz for a month would be £2,143! Absolutely bonkers.Would I do this back in the UK? Possibly, for a daily. My employer just introduced an Electric Car Scheme via salary sacrifice that includes insurance, maintenance etc for one monthly sum. Ideal if you just need a car; not so much if you want something you want to work on/modify yourself.
Edited by parabolica on Thursday 15th September 13:22
Sounds like a good solution for you. Is that a new car? You can get salary sacrifice subscription schemes, too. Seems like a good alternative to traditional company cars. Absolutely, this setup can work for petrolheads alongside a more exciting fun car, less so as an only car.
Superflow said:
No.It will not be worth the money and will come with several restrictions in place.
Fewer restrictions than PCP, Hire Purchase and especially a traditional lease. Mileage limits and fair wear and tear levels are the only main ones - which you’d have with conventional finance anyway - and you can return cars and swap models much more easily.Are you open to conventional finance or would you write that off for the restrictions, too?
Potentially, some of them don't appear as bad as value as they used to.
Pivitol by Jaguar will do a F Pace PHEV for £850pm all in based on 18k p.a.
The best lease deal I can see on one is £850pm on a 3+47 and that excludes maintenance, and insurance etc. so almost £200 a month more in real terms and you have to run it for 4 years rather than 3 months.
It isn't the case they are great value, its more than lease deals are so s
t at the moment some of them are now actually cheaper...
Pivitol by Jaguar will do a F Pace PHEV for £850pm all in based on 18k p.a.
The best lease deal I can see on one is £850pm on a 3+47 and that excludes maintenance, and insurance etc. so almost £200 a month more in real terms and you have to run it for 4 years rather than 3 months.
It isn't the case they are great value, its more than lease deals are so s
t at the moment some of them are now actually cheaper... mcflurry said:
Depends on the price and the car..
Say, separately it costs £300 for the car, £100 for fuel, £50 insurance and £15 road tax and the all-inclusive was £464, then yes. £466 then no.
£1 seems a pretty cheap premium for the convenience. I don't sort my own insurance or VED but if I had to I'd pay £1 to not have to.Say, separately it costs £300 for the car, £100 for fuel, £50 insurance and £15 road tax and the all-inclusive was £464, then yes. £466 then no.
RoVoFob said:
mcflurry said:
Depends on the price and the car..
Say, separately it costs £300 for the car, £100 for fuel, £50 insurance and £15 road tax and the all-inclusive was £464, then yes. £466 then no.
Does flexibility have no value? Part of me quite likes the idea of getting a bigger, nicer car for summer trips then swapping to something mundane and practical for the rest of the year.Say, separately it costs £300 for the car, £100 for fuel, £50 insurance and £15 road tax and the all-inclusive was £464, then yes. £466 then no.
I normally wouldn’t want to pay just for convenience, but some of the all-inclusive prices seem pretty good value compared with equivalent finance setups that require deposits, long contracts and aren’t very flexible.
Friend does this with on.to , for a set fee he has an id3 inclusive of insurance, servicing, tax, breakdown and electric charging (at certain chargepoints but it's the Costa 2 miles from his house so it works out fine) with a limit of 750 miles/month (9,000 pa), on their website it's currently £649 a month.
If that's the car you want and you don't mind paying a premium to have the flexibility of monthly lease, etc. it seems perfectly fine.
If that's the car you want and you don't mind paying a premium to have the flexibility of monthly lease, etc. it seems perfectly fine.
Yes, already have done from April 2019 to Jan 2020, BMW i3 from Evezy/On.to for £399 a month. It was great, wouldn't hesitate to do it again if the price is right. The issue for me now is that On.to charge significantly more than they used to, so its no longer worth paying a premium for the flexibility and ease it offers IMO.
MesoForm said:
Friend does this with on.to , for a set fee he has an id3 inclusive of insurance, servicing, tax, breakdown and electric charging (at certain chargepoints but it's the Costa 2 miles from his house so it works out fine) with a limit of 750 miles/month (9,000 pa), on their website it's currently £649 a month.
If that's the car you want and you don't mind paying a premium to have the flexibility of monthly lease, etc. it seems perfectly fine.
I’ve just had a look and that ID.3 Family with on.to is £0 upfront, £99.50 for delivery and £649 per month all-inclusive with charging.If that's the car you want and you don't mind paying a premium to have the flexibility of monthly lease, etc. it seems perfectly fine.
Meanwhile, VW’s Lease&Care Large, which doesn’t include charging is £842.19 upfront, £842.19 per month without charging and you’re tied into a 24-month contract rather than a rolling monthly one - and it’s a lower spec model.
A 24-month VW PCP without any maintenance/insurance/running costs included is £867.88 per month with a £361.95 deposit.
So…On.to is cheaper than VW’s PCP and Lease&Care setups, includes all running costs and offers more flexibility. There’s no premium - it’s around £200 per month less. Sounds like a bargain to me…
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