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Car Subscription vs. Lease vs. Purchase

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Comments

  • MichaellMichaell ColoradoPosts: 107,418

    Almost $8K per year. I suppose there are lease payments that commonly equal that.

    Easily. But, those payments would be on a car with a substantially higher MSRP than the XC40.

    If you use the 1% guideline, you're looking at cars in the $60-70K price bracket.

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  • stickguystickguy Posts: 32,065
    Well, probably could get that to lease at $500/month sign and drive (I assume the subscription plan has no up front fees like you find on a lease?). So $150 for convenience of being able to get out in a shorter time frame, ability to switch cars, and the insurance? Depending on who you are and where you live, I suppose that could push $150?

    So on the high side, but probably not too far from actual cost to lease. And if you don’t want it 3 years might make sense.

    Just seems like a long term rental to me. Some people might need that arrangement. If it moves a few extra cars, good for Volvo. If not, they scrap it. Not that expensive of a plan really for them to take a flyer on it.

    2019 Acura TLX A-spec 4 cyl. (mine), and 2013 Acura RDX AWD (wife's)

  • carolsutton_86carolsutton_86 San Jose, CAPosts: 1
    So, here comes in the car subscription. I think I will consider checking and know all the facts first before I will try this. Thank you for posting such useful information.
  • antoninbantoninb Posts: 49
    Definitely not interested, for the same reason that I steer clear of leases. While the convenience may be appealing on the surface, I would not want to be in a forced relationship with a dealer or insurer where they will always clearly have the upper hand. I learned that the hard way with leasing.
  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 64,463
    It seems though that these subscription plans, at least in theory, are attempting to loosen the restrictions one normally has with leases.

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  • GamesBx2GamesBx2 UKPosts: 1

    Almost $8K per year. I suppose there are lease payments that commonly equal that.

    Yes, I think 8k usd!
    I'm a programmer at GamesBx.com
  • bryanfox177bryanfox177 TexasPosts: 2
    Actually depends on what kind of person you are. If you're the type of person that loses interest in their things in a short time then maybe leasing might be for you, but if you're the type that holds on to their possessions for a long time then why not buy it? But on a financial standpoint or perspective you might save more when leasing a car.
  • jdm11jdm11 Posts: 1
    Chicago area dealers, and/or probably their customers are on crack. Can someone please explain to me how "general joe public BMW driver" affords the car. I honestly dont believe the payments people pay to drive a mediocre car. Are you honestly paying those numbers? Idiots!
  • i think the idea of car subscriptions is actually very interesting. I like the idea of being able to change cars monthly if I wanted
  • qbrozenqbrozen Posts: 25,609
    Pretty sure they won't let you change that often without fees. They can't afford to be taking on "used" cars with thousands in depreciation in exchange for a few hundred bucks.

    '18 BMW 330xi; '67 Coronet R/T; '14 Town&Country Limited; '18 BMW X2. 47-car history and counting!

  • stickguystickguy Posts: 32,065
    It really ends up being the same as their car rental pool.

    2019 Acura TLX A-spec 4 cyl. (mine), and 2013 Acura RDX AWD (wife's)

  • qbrozenqbrozen Posts: 25,609
    But are they giving the next subscriber in line a used vehicle? I don't believe so.

    '18 BMW 330xi; '67 Coronet R/T; '14 Town&Country Limited; '18 BMW X2. 47-car history and counting!

  • stickguystickguy Posts: 32,065
    Good point I thought of after. Maybe. Otherwise generating a lot of new service loaners.

    2019 Acura TLX A-spec 4 cyl. (mine), and 2013 Acura RDX AWD (wife's)

  • PlasticBottlePlasticBottle OCPosts: 1
    Subscription isn't not a new idea. It was already implemented in the past in Israel. it creates a huge advantage for the dealerships, as they can resell the car as certified by default - all car support is granted during the lease period.

    The concept is great. You get a lease and a management company(dealership) that supports your lease (in Israel they also pay for the gas) for a ~$50-$400(depends on the car) extra in a month and save the headache of insurance, gas billing(you don't pay at the gas station in Israel), maintenance, road support and etc.'

    But the price right now in hear is way too high for cover the car management headache.

    Right now, I'm going to stick with leasing.
  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 64,463
    Yes, subscription does seem more like buying a luxury handbag than getting best bang for the buck with leasing or purchase.

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  • ksomanksoman Posts: 674
    edited May 13
    My lease payments are less than my insurance payments. Sux to be a parent with a desire for nice cars.

    I went from a buyer to a lessee. Largely because I found I was keeping cars for less than 5 years, and lately because technology creep is overwhelming life of cars themselves. Also, I use Lyft extensively as my work keeps me flying close to 200K a year. I often wonder if the extra car at home is worth the expense. So, in the future, I do see fewer cars in my garage and more reliance on somebody else's vehicle, whatever form of "service" it shows up as.
  • wish there was a subscription service where you get a vehicle for 1-3months at a time
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