Our Complete Guide To Electric Vehicle Subscription
Electric vehicle subscription is a new way of getting on the road, which does away with the long term commitment of car leasing, and the unexpected costs that come with car ownership. We do this by giving you the freedom to swap, return or extend your subscription from one month to the next, and bundle in the costs of maintenance, road tax, roadside assistance and more into your monthly subscription fee.
Because EV subscription is so flexible it’s perfect if you’re going electric for the first time. You can try out an EV for a month, and swap back into a petrol or diesel car if it doesn’t work for you. We can even help with the cost of a home charger.
In the simplest terms; you subscribe to an electric vehicle. EV subscriptions are similar to car leasing, as you make monthly payments for use of the vehicle, but include a range of additional services in the monthly subscription fee. You also enjoy the freedom to cancel, extend or swap your car any time, just like your favourite streaming service or meal kit subscription.
Electric vehicle subscription also has lower barriers to entry than leasing. Unlike a car lease which typically involves a large upfront payment for the initial rental, an EV subscription only requires you to pay the first month upfront. This is especially beneficial as new electric vehicles are typically more expensive than there petrol or diesel counterparts.
Subscription can be a short term or long term solution. At mycardirect we offer car subscriptions from as little as 1 month, all the way up to a year, with the option to extend beyond that. Our service is also totally flexible; so if you initially subscribe for a month you can simply roll your subscription, and if you subscribe for a year you can always cancel early. This is where subscription majorly differs from a traditional lease. When you lease a car you are tied into the car for years at a time, and have to pay extortionate abort fees if you need to exit the lease for any reason.
When you subscribe to an EV with mycardirect you also enjoy the ability to swap between cars. Have you ever dreamed of driving a luxury saloon like a Tesla model 3 in the summer, and an SUV like the BMW IX3 in the winter? With car subscription you can make that dream come true. Browse our full selection of electric cars here.
An EV subscription from mycardirect is so much more than just the car. We aim to take the hassle out of motoring by taking care of all those annoying little extra costs that come with owning a car. Our EV subscriptions include the cost of all maintenance, servicing, breakdown cover, MOT, and replacements for worn tyres. We can also offer exclusive savings on a home EV charger through our charging partner Indra.
Our petrol and diesel car subscriptions also include road tax in the subscription, but road tax does not currently apply to electric vehicles. When road tax is levied on electric vehicles from the 2025 tax year, road tax will be included in the subscription.
No more worrying about replacing an expensive set of bald tyres, or paying for expensive routine services at specialist EV mechanics. We take care of everything and you just make one all inclusive monthly payment.
Insurance isn’t one size fits all, which is why we allow you to find your own. So if you have a great relationship with your current insurer, you can keep using them, or shop around for the policy that works for you.
We are not insurance brokers, and do not offer insurance. After you place an order, find a quote which is right for you. Once your order is confirmed, simply send us your insurance certificate before your new EV is delivered.
By allowing you to find your own insurance policy you can often find a better priced and more appropriate offering, than if we included a “one size fits all” insurance policy, and built it into the price of the monthly subscription.
As electric vehicles offer high performance and instant acceleration, insurance premiums can differ drastically from driver to driver. We recommend using a comparison site to find a quote at the right price for you, from an insurer you trust. Read our quick guide to insurance for your EV subscription here.
Here is why subscribing to an EV is better than buying or leasing one.
Car subscription is a new way of getting behind the wheel, designed specifically for electric vehicles. Aside from the obvious advantages of the subscription model such as real flexibility and all inclusive pricing, EV subscription eliminates many of the barriers to entry of driving electric.
Contrast the UK’s best selling electric vehicle in 2018, with the best selling electric vehicle in 2022. In 2018 the best selling EV in the UK was the Nissan Leaf with a real world range of 150 miles. By 2021 the best selling EV in the UK was the Tesla Model 3, with a real world range of 300 miles. Now the best selling EV is the Tesla Model Y which wasn’t on the market in 2021. As such during the lifetime of a standard car lease, electric vehicles have undergone a paradigm shift, and will do so again. The rate of technological development is so great that it no longer makes sense to commit to a long term EV lease or buy one outright, as it will be rapidly superseded by superior models.
This rate of technological change also means that used electric vehicles hold their value very poorly. Electric vehicles depreciate at a rapid rate, as drivers don’t want to buy an outdated vehicle with low range and a degraded battery. So if you buy an EV, not only will it quickly become outdated, but you won’t be able to sell it for much!
New electric vehicles are also more expensive than their internal combustion counterparts, as manufacturers have to design them from the ground up, and develop new production lines. Because of this, traditional car financing methods such as hire purchase and personal contract purchase command very high upfront costs. EV subscription by contrast requires only the first month’s subscription fee upfront, making it much easier to get behind the wheel of a new electric vehicle. See how subscription stacks up against other ways of getting behind the wheel using our handy comparison tool here.
At mycardirect we have a fantastic range of electric car subscriptions available.
Our EV subscriptions start with a MG 4 from £539 per month (including VAT), all the way up to electric supercars like the Audi e-tron GT. Here is a quick overview of some of our most popular electric models:
Hatchback
- MG 4 from £539 per month
Saloon
- Tesla Model 3 from £729 per month
SUV
- Kia EV6 from £849 per month
- BMW IX3 from £899 per month
- Tesla Model Y from £1099 per month
The beauty of car subscription is that you can change your subscription vehicle from month to month. So if you’re unsure about going electric you can try an electric vehicle, and swap into an internal combustion car if it doesn’t work for you. We offer a fantastic range of petrol and diesel models if you aren’t ready to go electric. Choose from a great range of brands including our fantastic selection of Mercedes, BMW, Audi or Tesla cars.
We also offer a range of plug in hybrids, which are perfect if you do lots of inner city driving.
Some of our most popular petrol and diesel model include:
I was able to get the car much faster and for a better monthly price ... but more importantly the service is much more personal and you get to deal with actual people!
Becoming a member of Mycardirect is quick and easy. To get started, find the vehicle that’s right for you, place an online order, and upload your verification documents so we can get you approved.
You can order as an individual or as a business. If you sign up as a business, you can take full advantage of the incredible benefit in kind on electric company cars. Read more about car subscription for business here.
Once you’ve found your perfect car it’s time to customise your subscription. Start by selecting the initial length of your subscription, remember you can always extend or return the car early if you wish.
Once you’ve selected your initial subscription period, it’s time to choose your mileage package. We offer 800 miles per month as standard, which is more than enough for the vast majority of subscribers. If however you anticipate you’ll be doing more mileage than that, you can choose a higher mileage package, up to 2000 per month.
Once you’ve customised your subscription to your liking, hit continue and you’ll start the ordering process.
Seamless online platform. User friendly & efficient. Customer support team on the phone are so friendly and helpful. Speedy service. Vehicle was delivered straight to my door within days!
Once you’ve found your perfect electric vehicle it’s time to place your order. You’ll first need to fill in your personal details, such as your name, date of birth, and employment status.
You’ll also need to enter your address, so we know where to deliver your car subscription, and the period you have lived there for credit purposes. You can also select your date of delivery, or to pick up the vehicle from one of our branches if you would prefer.
Once you have entered your details, you will need to agree to the terms and conditions and a credit check, before you submit your order.
Once you have placed your order you will be prompted to securely upload your documents. Alternatively you can navigate to our document upload portal from your confirmation email. To get approved, we require:
- A selfie so we know it’s really you.
- A photo of your driver’s license (front and back).
- Proof of address such as a utility bill.
- Proof of affordability.
Our approval process is based on affordability. If you have an excellent credit score you may well be approved automatically, but we may ask for bank statements to prove you can afford the vehicle you have applied for.
At mycardirect, we take our consumer responsibilities seriously. As a regulated company under the Financial Conduct Authority, we need to ensure that you can afford the vehicle without putting you under undue financial pressure. To achieve this, we carry out a credit check to make sure you can afford the vehicle you are applying for and do not have any county court judgments against yourself. If you pass the checks, you will be approved, and we will be happy to offer you a car subscription.
You can read our full guide on getting approved for a mycardirect vehicle here.
Once you are approved, a member of our friendly team will be in touch to arrange delivery. We deliver anywhere in the UK mainland, including Wales and Scotland. In the unlikely event that the vehicle you initially ordered is no longer available, our team will be happy to offer you an equivalent vehicle.
Once you’re happy with your vehicle and delivery date, all you need to do is send us an insurance certificate for the vehicle. Once we’ve received your insurance certificate we will send over a contract for you to e-sign, at which point the deposit will be taken.
On the day of your delivery we will let you know when your car will be delivered, and one of our friendly handover agents will demonstrate the features of your new electric vehicle.
