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Poll results: Subscription services are the future of car ownership

09/09/2019
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Following the trend of subscription packages taking over traditional ownership, there are now a number of services allowing you to “subscribe” to your new car on a short-long term basis. But will these services last, or will drivers always prefer to own their own vehicle? 

That’s the question we put to the EngineeringPro audience last week, and this is how you responded:

70% of EngineeringPro readers believe that subscription services are the future of car ownership

70% of engineering professionals believe that subscription services are the future of car ownership.

Despite the fact that subscription services mean you never actually take full ownership of the vehicle, the majority of our respondents are in favour of them. The benefits are similar to those of a mobile phone subscription - it’s flexible, simple and the payments are spread out over a long time. 

The chance to regularly change or give up your car is a tempting one, as is the simplicity of having all the costs combined into a flat monthly fee - no more balloon payments, insurance haggling, road tax, breakdown cover. The industry is picking up on the demand for this, with both manufacturers and startups offering their own options, each with their own benefits. Luxury brands like Porsche offer the opportunity to regularly switch between high-end models, appealing to enthusiasts who dream of driving a different car each week.

Because you don't own your own car, subscription services allow you to regularly change your make and model easily and flexibly

Only 30% voted “No” in our poll - preferring to actually purchase and own their own car, rather than basically rent one. It’s arguable that this figure would have been higher a few years ago, but the growing trend of subscription services in other areas like digital media and technology is changing the way we think about “ownership”. 

Even though you’re likely to pay more in the long run - and have to continue paying regularly until you return the vehicle - people are more willing to do so for the low short-term costs, flexible contracts, simplified processes and wider product options. 

What do you think?

Do you agree with other EngineeringPro readers? Would you prefer to sign up to a regular subscription service to lease a vehicle on a flexible basis, or would you rather pay for and own your vehicle outright? Have your say in the comments.

Sign up to the EngineeringPro weekly newsletter for the best comments as well as the latest engineering stories. This week’s poll will be published later today.

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Poll results: Subscription services are the future of car ownership - Time to read 2 min
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