THE Glasgow-based broker, Intelligent Car Leasing, has scored a first: a broker supplied car subscription service.
The new car subscription service has been launched in partnership with Wagonex, the car subscription marketplace platform.
The flexible service allows customers to sign up for a subscription that includes all services bar fuel. Subscription periods range from six months to 24 months with no upfront costs.
Intelligent Car Leasing says the service is highly flexible, allowing users to swap between vehicles every six months if they wish. For example, it offers the opportunity to try an electric car before swapping to a petrol or diesel SUV, perhaps for a family holiday.
Announcing the partnership, Marc Murphy, head of sales and marketing at Intelligent Car Leasing (pictured), said:
“Increasingly, consumers want new ways to access the services they desire, whether it’s for films, clothes or for online deliveries.
“We believe now is the time for consumers to switch on to the benefits of car subscriptions, where all services are wrapped into the one package, and there’s the flexibility to choose different cars when they want and to stop the subscription at their convenience. It really is the next step forward in car usership models.”
Murphy added that car subscriptions formed part of a richer blend of growing mobility services in which personal contract hire (PCH) is helping to fuel the move away from the traditional car ownership model, accounting for 64% of all new contracts written in 2018.
According to analysts Frost & Sullivan, car subscriptions will account for 10% of all new vehicles retailed in the US and Europe by 2025 – and 16 million vehicles in total.
Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.