Automakers Turn to Subscribing to Lure Commitment-Phobic Customers
When was the last time you bought a physical CD or DVD, much less went to Blockbuster" Subscription and digital services such as Netflix and Spotify have all but done away with those physical discs, and they’ve long since put Blockbuster out of business. It’d be a stretch to say car buying and leasing will go the way of Blockbuster anytime soon, but automakers are increasingly dipping their tires into subscription services, which could be seen as an alternative.
As with leasing, one of the main attractions of subscribing to one of these services is that you don?t own the car and therefore don?t have to swallow the bitter pill of depreciation. But these subscription plans go further. Most cover registration fees, maintenance, and insurance, and some allow the customer (pardon us, ?subscriber?) to switch vehicles on demand. Add to that the convenience of potentially having the vehicle delivered right to your doorstep, avoiding the hassle of negotiating with a salesperson, and possibly never having to step foot in a brick-and-mortar dealership again, and the prospect of subscribing to your next new car or truck?instead of buying or leasing it?sounds promising.
Already, subscription services such as Flexdrive, Fair, and Canvas aim to change the face of the used-car market; the concept is just beginning to enter the marketplace for new cars. To date, only a handful of automakers have announced such subscription programs for new cars. Here?s how they compare.
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