Owning a car is a huge commitment, one that can take up all the effort and resources. With modern lifestyles saddling us with so many other responsibilities, it may be time to rethink the whole process.
The down-payment of a car is the first part of the obstacle. You would be expected to shell out a rather big sum of money, the kind that you would have to stretch to accumulate. Other payments like road taxes and insurance also add to the list of expenditures. It can result in compromises in your lifestyle. Even worse, in times of emergency you might not have access to funds because you have spent it all on the down payment. That same amount could have got you other things. You could have even invested it somewhere else.
Then of course, the monthly EMIs add a long-term liability to your personal finances. This goes on for years and can be a stumbling block for your other plans. While you are paying EMIs on the premium cost of your car, the vehicle itself is ageing and has cost more money in its upkeep. You are not only paying big monthly sums for the car, but as time progresses, you will be juggling these with costs on repairs and maintenance. Unless you are the car loan company, it does not sound like a pleasant deal.
This is the reason why car subscription is becoming a smart and viable option for a whole new generation of commuters. MG Motor's latest service – the MG Shared Subscription, a Car program is addressing the needs of travellers who yearn the privileges of car ownership. Why buy a car and be saddled with car loans and car EMIs when you can just pay for a vehicle for using it.
Traditional car leasing companies do not offer the same perks as MG Shared Subscription. MG Motor is tech-driven so there is not much human correspondence required, saving you a lot of time. You get to choose from a large collection of cars – hatchbacks, sedans, SUVS. The subscription can be facilitated with ease over a dedicated app and you can book a car from 12 months to 36 months. This is especially useful for people who move a lot and are not keen on having too many permanent assets.
Another hallmark of the MG Shared Subscription is that you can rent your car out when you do not need it. This way, you can further reduce your car subscription costs.