How To Pay For Your Car Subscription
Car subscription is the new way of getting on the road, and we want to make starting a subscription and paying for it going forward as simple as possible. When you start a subscription you’ll pay our joining fee, refundable deposit and your first month’s subscription via card. Your subsequent subscription payments are then taken by direct debit. No money is taken until you are approved, we have assigned your vehicle, and you have signed your contract. Read on for a full breakdown of how to pay for a mycardirect car subscription.
When you start a subscription with mycardirect you make 3 initial payments:
- Joining fee – We charge a one off £275 joining fee for all new members of mycardirect.
- Deposit – We charge a fully refundable damage deposit, held until the vehicle is returned. The deposit is typically £250 for budget vehicles, £500 for standard vehicles, and £750 for premium vehicles.
- First month’s subscription – Payment for the first month of your car subscription.
The first month’s subscription will vary depending on the vehicle and period you wish to subscribe for. You can see a breakdown of the full cost of your subscription by clicking “View Breakdown” on the vehicle page.
When you order your vehicle through our online platform you will need to enter both your payment card and bank details. After you enter your card details you may need to authorise your card through your bank, even though no money will be taken. If you order another vehicle with mycardirect your card details will be saved along with your personal details. You also have the option to use Google Pay. Please note that no money is taken until you have been approved, we have assigned your desired vehicle, and you have signed your contract.
Once you have been approved and you have signed your contract, the joining fee and deposit will be taken. The first month’s subscription payment is taken on the day before delivery. All 3 of these payments are taken by card through STRIPE.
Following the first month’s subscription payment which is taken by card, your subsequent subscription payments are taken by Direct Debit. Your subscription payments are taken on the same day of each calendar month following your delivery. So if your vehicle is delivered on the 1st of February, your next subscription payment will be taken on the 1st of March.
When you order your vehicle after entering your card details you will need to enter your bank details. Click the “Set Up Direct Debit” button and enter your bank details in the dialogue box which opens up. Your bank details will not be saved for future purchases as they are encrypted. Mycardirect’s direct debits are powered by GoCardless.
Swapping your vehicle with mycardirect is quick and easy. When you want to swap just order your new vehicle through our online platform. Your card details will be saved, but you will need to re-enter your bank details. Once we have received your request for your new vehicle, our team will process your order, and work with you to arrange a date for the swap.
We always aim to swap your vehicle as close to your renewal date as possible. This allows us to cancel your current direct debit, and set up your new direct debit at your new subscription price.
