Buying something and using it for the rest of life is already a decades-old idea now. The present generation is fond of trying variety, in all aspects of their life and that includes their way of car ownership. This is why car subscription in India has become so successful in the past few years. Ever since the concept of car subscription has been introduced in India, there have been a lot of ifs and buts about it. So, let us go ahead with that discussion in this piece of writing and see which one is more suitable in this day and age.
The basic difference between car subscriptions and car ownership is that when you buy a car it is yours until you sell it to someone else, while a car subscription is like subscribing to Netflix. You have the car for a certain period and you have to pay a fee every month to keep using it. Like this, there are several reasons why people choose any one of them. Let us see what they are:
Advantages and disadvantages of car ownership
- Since you are the owner of the car; hence, you do not have to be worried about returning it to someone. You can use the car for the rest of your life if you want.
- You can travel to various places in the car without informing anyone.
- One of the biggest disadvantages of car ownership is that you cannot change it whenever you want. If you want to use a new car, you have to buy a new one.
- You have to take responsibility for the vehicle’s maintenance, insurance, road tax, etc.
- You may have to take a loan and pay EMI for the same.
- You need to make a down payment, which can be a huge investment for many people.
- The value of the car always depreciates. Therefore, even if you sell the car after a year of using it, you will never get the same amount of money with which you bought the car.
Advantages and disadvantages of car subscription
- Flexible car subscription is one of the reasons many people are choosing to subscribe to a car these days than buying one. You can use any other car once your subscription period is over. You do not have to be stuck in only one car.
- There is no need to worry about the maintenance of the car, road tax, and insurance. It is all taken care of by the car subscription company. For the maintenance and servicing of the car, executives from the company will pay a visit to your home, pick up the car from there and take it for servicing. They ensure that the servicing of the car has been done properly and once it is done, they will drop the car at the same address. You can just relax and wait for the car to be sent back to you.
- There is absolutely no need of taking a car loan. Therefore, you also do not have to pay an EMI. This ultimately saves a lot of money. The only money to be paid for this is the monthly car subscription fee. There is no hidden fee, and the maintenance charges along with road-tax are all included in the monthly fee. You also have to pay a security deposit of a minimal amount, which is refundable.
- You return the car whenever you want. The minimum period of a car subscription service is 1 month. Once a month is over, you can return the car, and if you wish you can take a car again with a different model.
- If you are comfortable with the concept of a car subscription service, you can keep on using it for as long as you wish to. All that you need to do is to inform the car subscription company about your wish and keep on using the same.
- One of the benefits of car subscription is that if you are changing cities, and you want to subscribe to a car in the new city, you can update the company about the same. As soon as you reach the new city, you can inform the company about it, and with a few of the formalities done you can get the car delivered to your doorstep.
- If you want to return the car before the expiration of the subscription period, the company might ask for some amount as a penalty.
- There is no resale value since the car is not yours. After a point, you anyway have to give the car back.
Car subscription service is slowly and steadily taking over the market in India. Many people who had plans of purchasing a car are now moving to the idea of a car subscription. And when we talk about car subscription in India, what can be better than Revv. They offer the latest models of cars and in the best of condition.
As you take the car subscription service from Revv, you can expect the car to be deep cleaned and sanitized thoroughly before it is delivered to you. They also offer contactless delivery and pick-up service; therefore, you hardly need to worry about coming in contact with any virus.
To sum it up, a car subscription is any day a better idea, especially for people who need a car for a certain period, or the ones who are comfortable changing the model of their car now and then. Now, if you want to take the service, you can book the car through the website of Revv or their app, which can be downloaded from the Google Play Store or iOS App Store.