Car subscriptions have recently entered the automobile industry in Singapore, allowing people to drive their favorite cars without the high upfront costs that come with owning a car. With its term flexibility and all-inclusive monthly subscription fee, the car subscription model is rivalling traditional car ownership. We've compared the costs of car subscriptions to car ownership in order to determine where you can save money.
Car Subscriptions: Flexible Terms With Hidden Costs
Car subscription companies are the first of their kind in Singapore. Unlike traditional methods of leasing a car, car subscriptions allow Singaporeans to rent a car on a monthly basis, with no fixed term contract that binds the buyer to a rental car for a year or more. These car subscription costs take the form of a monthly fee that includes all car ownership expenses like: car insurance, road tax, warranty, and 24-hour assistance maintenance costs....