Have access to a range of different makes and models for one all inclusive monthly fee.
Before you drive your new vehicle off the dealership forecourt, you have some decisions to make. From deciding the size, colour and model of the vehicle, to choosing New, Pre-reg or Used cars. They always say that the second biggest purchase of your life is a car, and unlike a house, these thing depreciate.
For those who don't like commitment, a 2/3 year PCP, HP or Vehicle lease may seem like a long time. With Contract Hire, once you have started the agreement, its very difficult to terminate without a charge, which can be up to 100% of the outstanding rentals.
PCP's and HP's aren't as harsh, but if you have negative equity in the vehicle, you need to stump up the extra cash to "buy" your way out of the agreement.
For those that don't want to commit long term, the latest option on the car scene is a “Car Subscription” - A subscription service where a provider or a manufacturer charges an all inclusive monthly payment and gives you access to a car. Not only that, it gives you an option to upgrade, downgrade or even pause the subscription to suit you and your lifestyle or business needs.
Having a car can be an expensive experience. Most people overlook the running costs of a vehicle, these can include the maintenance, repairs, road fund licence, roadside assistance, these are all additional costs.
With a Car Subscription Service, all of these options are rolled into one monthly fee and it isn't always more expensive than a traditional lease or if you purchased a vehicle.
With a car subscription service, you don't actually own the vehicle. But you are granted access to use the car during the subscription period. Some of the latest car subscriptions are offered by the manufacturers, but you are restricted to ”their” models.
The word “Simplicity” comes to mind, one all inclusive payment that covers the rental, the maintenance, the warranty, the road fund licence, the roadside assistance but most importantly, it covers you against the depreciation.
Not only that but it gives you the ability to upgrade/downgrade or even pause the subscription service by using an online form. Its a great lifestyle subscription which is similar to the way you pay for services like Netflix or Spotify.
There are always rules when it comes to subscription services and of course contracts, this is where the drawbacks for many will come into place.
For instance, the car must be returned in the correct standards to avoid additional charges. As we all know, curbs don't just jump on to our Alloy Wheels and cuff them. This sort of damage is down to driver error and judgement.
There are also mileage limits, no-one really offers unlimited mileages nowadays so you've got to make sure you have calculated this right at the beginning to make sure you don't get a bill at the end of your car subscription.
The majority of the vehicles are new or nearly new and must be collected, this can be from varying sites across the UK, so if you don' want to pay for delivery then you must be prepared to travel.
If you don't want to commit to a term, then the prices will be higher than those advertised. Even if you can commit to 90 days or more, the price will lower.
* All vehicle images and car descriptions on this site are for illustration and reference purposes only and are not necessarily an accurate representation of the vehicle on offer. All offers maybe withdrawn at anytime and without notice. E and O E
T: 0800 802 1940
F: 01332 292306
Cocoon Vehicles Ltd
The Old Co-Operative
36 Holbrook Road
Cocoon Vehicles Ltd are a credit broker and not a lender, we are authorised and regulated by the Financial Conduct Authority. Registered No : 711074
Registered in England & Wales with company number : 06113683 | Data Protection No : Z1350323 | VAT No : GB 907 7553 04
Registered Office : The Old Co-Operative, 36 Holbrook Road, Belper, Derbyshire, England, DE56 1PA
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