Compare Car Subscription, Car Leasing, Car Finance & Car Ownership.
Car subscription is a relatively new way to get behind the wheel, and most of our subscribers have never subscribed to a car before. The table below is here to help, by outlining the key differences between subscription, car leasing, finance, and car ownership. There is no right or wrong way to ‘own’ a car but it’s worth doing your research to find the method that suits you best. The most significant difference between subscription, leasing, and ownership is the flexibility to change your car when you want.
| Quality | Subscription | PCH Leasing | PCP Finance | HP Finance | Ownership |
|---|---|---|---|---|---|
| Upfront Cost | £275 one-off joining fee |
Upfront initial rental (normally 3-12 months) |
10-40% of care value and balloon payment at end |
10-50% of car value | Very large upfront cost (buying the car) |
| Deposit | Fully refundable £250-500 (is standard) |
No deposit | No deposit | No deposit | No deposit |
| Maintenance | Included | Optional at extra cost | Optional at extra cost | Not included | Not included |
| MOT | Included | Included (first 3 years) |
Included (first 3 years) |
Manufacturer cover | Not included |
| Road assistance | Included | Sometimes included | Sometimes included | Manufacturer cover | Not included |
| Road tax | Included | Included | Included in the first year | Not included | Not included |
| Insurance | Not included | Not included | Not included | Not included | Not included |
| Flexibility | Included | Not included | Not included | Not included | Not included |
PCH = Personal Contract Hire
PCP = Personal Contract Purchase
HP = Hire Purchase (traditional finance)
Hopefully this table has demonstrated the key differences between car subscription, and other forms of finance. If you have any unanswered questions, please feel free to call our friendly team on: 0333 0155 055