Vehicle Subscription Model

Vehicle subscription is a service where a customer pays a recurring fee for the right to use one or more automotive vehicles. Some vehicle subscriptions offer insurance and maintenance as part of the subscription fee; other subscriptions allow the subscriber to switch between different vehicles during their subscription period. Industry commentators consider vehicle subscription to be an alternative to owning or leasing a vehicle. Rent Centric Vehicle Subscription is another of the company’s automated administration offerings.
The objective with this model is to deliver additional options that are closer to drivers’ lifestyle desires, in turn improving service provider profitability and brand awareness. Subscription is a highly attractive model for millennials which will represent 40% of the car buying market by 2020.

Benefits:

• Convenience. Let your clients set up the subscription online and manage it via a smartphone app. 
• Access to range of vehicles on-demand.
• Flexibility time frames. Your clients can change cars more frequently than with leasing or buying.
• Lower credit requirements.
• Recurring revenue model.
• Cost savings for your clients. There are no down payments or financing charges.
• Easier contractual obligations.
• No attendant responsibilities and hassles of outright ownership.
• No negotiating. The fees are set.
• Offsets declining used car values.

Rent Centric Vehicle Subscription automation can be used to implement rental plans ranging from one-price all-inclusive short-term lease/long term rental plans, on the simpler business model side, to more complex plans where a subscriber, based on their subscription tier, is able to reserve from a select group of vehicles with automated rules and stipulations built-in, as well as flexible option fee structures in place.