Ever heard of car subscriptions Here why their popularity is growing

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MG Motor India
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Ever heard of car subscriptions? Heres why their
popularity is growing

• Consumer patterns have changed in the last few
  years, and how. From signing up for a set-top box
  and making a life-long commitment to cable TV, we
  now subscribe to specific OTT (Over-the-top)
  services that appeal to our tastes. Very few
  people choose to buy complete music albums today
  because streaming sites allow them to listen to
  or download only those tracks which they want or
  like. Even accommodation has become flexible
  serviced apartments and short-term leases are
  available to look for convenience and ease.   
• The success of these different services has been
  convincing enough for car brands to roll out
  similar subscription models to anyone who wants
  to be a car owner without having to fully commit
  to the legalities or financial liabilities of
  having a car. Car subscriptions allow you to
  subscribe to a vehicle for a limited period
  quickly, easily and without all the paperwork.
  Sounds like a good short-term alternative to car
  ownership right? And it is a concept that is
  quickly catching on. 

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How car subscription works

• To use an analogy from the telecom world,
  purchasing a car is like buying an unlocked phone
  and then choosing a phone service provider. A car
  subscription is more like a contract phone
  purchase you get to use a lovely phone handset,
  but you dont have to pay the high sticker price
  it commands. In the same way, you can sign up for
  a car subscription for a specific period from a
  few months to a few years, depending on what
  suits you best. Most car subscription platforms
  only ask you to create an account, choose your
  ideal car (from the car models available) and
  then finally provide scanned copies of essential
  identity documents, such as your Aadhar and PAN
  card. Once you have completed this process, your
  request is sent to the company. The approval for
  this request is then based upon your credit
  score. And voila, you can start using your car
  after that!

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Paying for a car subscription 

• One of the most significant amounts that get
  eliminated with a car subscription is the large
  down payment you would have to make if you were
  purchasing a car. It only involves a monthly fee
  (which is agreed upon before you subscribe to the
  car), and it can be as simple as charging it to
  your card. Much like an EMI, the amount will be
  debited from your account on the same date every
  month. ItsThatEasy.

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What happens at the end of the subscription?

• The subscription tenure can run from six months
  to five years, depending on what you opt for. At
  the end of this subscription tenure, you can
  choose to either renew the subscription for the
  same vehicle or trade-in the current car for a
  newer model. Or you could simply discontinue the
  service if you no longer need it. 
• After all, the idea behind a subscription service
  is to cater to your evolving needs.

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Other benefits that come with a car subscription 

• When you sign up for a car subscription, there
  are several things that you, as a car owner, do
  not have to worry about. This includes
• Insurance renewal
• Maintenance costs
• PUC (Pollution Under Control) certification
• All these are taken care of by the subscription
  provider. Additionally, you even get 247
  roadside assistance to ensure you never have a
  problem. 
• So, in a nutshell, a subscription is just like
  owning a car but with almost zero commitment.
  ItsThatEasy

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THANK YOU
For More Information Visit www.mgmotor.co.in