Businesses must evolve to stay on top of their market, responding to consumer needs and trends before consumers even notice them. That’s why car subscription models have begun to gain some traction in the auto world. They’re particularly targeted at non-traditional sections of the population – most notably millennials.

Below, we outline what a monthly car subscription service in the UK might look like. By giving you the advantages and disadvantages of a car subscription model, we help you to make an informed decision regarding your car finance needs. 

What is a car subscription? 

If you use services like Netflix or Amazon Prime, you’ll be familiar with a subscription business model. A car subscription is no different. These schemes were introduced as a flexible way for consumers to lease a car. You pay a monthly ‘all in’ fee which includes access to the vehicle, insurance, road tax, and any maintenance or servicing fees. You just have to add fuel. 

The benefits of a car subscription 

Price transparency 

With a car subscription, you’re given total price transparency from the off, so you know exactly what you’ll be paying and when. This is a major appeal for many consumers, who find the schemes more manageable than navigating traditional modes of car finance. 

Bear in mind, however, that any quote provided on car finance by My Car Credit will always be transparent too. With us, the rate you see is the rate you get, and there are no hidden fees or surprise costs. 

Ease of online applications 

Millennials are the primary target audience for car subscriptions. As this cohort of people tend to be digital-savvy, they prioritise using online resources in order to shop about for products. Subscription services will tend to be made available online. Furthermore, the ultimate transaction takes place digitally too. As such, this is another reason why they appeal so significantly to this market. 

My Car Credit has been riding this wave for online car loan applications for a while. In fact, with our car finance calculator, you’ll be able to have a quote for car finance within minutes after inputting only a few personal details. From there, the application process is quick and pain-free. In fact, we receive frequent customer feedback on how simple and easy our process really is. 


Car subscription services don’t have long-term contracts – they’re far more flexible. Typically, after a 30-day period, drivers can cancel the subscription whenever they please. They can also move onto an alternative model of car too. As such, subscription services are ideal for drivers who get easily bored of their wheels. 

You can usually swap car models around with some ease – depending on your subscription provider. Bear in mind, however, that chopping and changing your car around might not be suitable for all drivers. Families, for example, may want one vehicle that can be relied on to hold all of their essential kit, without regularly moving things around. 

The disadvantages of a car subscription 


A big downside for a UK-based monthly car subscription is its cost. Subscriptions are not cheap – they’re more expensive long-term than leasing, financing, or most other car finance options. In order to get the convenience of the service, you’re paying a premium – and that might be beyond your budget.  

Usage caps 

A monthly car subscription in the UK will often come with some kind of vehicle cap for the car’s usage. Essentially, you might find yourself facing restrictions with who can drive your car – and a mileage cap. If you’re a driver who needs to cover a lot of ground for your job or personal life, then a subscription model might offer serious limitations. Car finance, on the other hand, is unlikely to stipulate mileage caps of this kind. 

Can be limited 

Car subscription services in the UK have various limitations. They aren’t available everywhere, for one thing, so where you are based will dictate whether or not you have access to a scheme. 

Similarly, some car subscription providers won’t allow you to access the subscription unless you are of a certain age or have had your licence for a particular length of time. This can be off-putting for drivers who don’t fit within these stipulated brackets. 

Any questions? Speak to My Car Credit  

If you’re keen to discuss your car finance needs, you can start up a conversation with one of our friendly team today. They’ll be able to guide you through the benefits of car finance compared to a subscription model. In addition, they can address any queries or concerns you may have.  

Call us on 01246 458 810 or email and we’ll get back to you as soon as we can.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

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  • You are a home owner
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  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
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  • You are on the electoral role
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X monthly repayments of

Typical rate

Loan amount

Total payable




*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!