An electric car subscription is much more convenient, flexible and affordable (no upfront fees!) than leasing or buying a car outright. You simply pay a single monthly payment, like Netflix or Amazon Prime. Not only does this payment cover the rental of the car, but it usually also includes servicing, breakdown cover and other running costs. You also get to drive a range of the latest electric cars.
What’s more, you’re not tied into a long-term contract and many providers allow you to switch cars regularly, with the option to cancel at any time.
An electric car subscription works in a very similar way to an electric car lease. Most subscriptions include the car, tax, maintenance and breakdown cover, with the option to add insurance for an additional price. They usually run for anywhere up to 24 months and are perfect for people that want to drive a brand new car, hassle-free and for one monthly fee.
It can also be a good way to decide if you'd like to purchase an electric car in the future.
The minimum term length of an electric car subscription ranges from 1 month to 3 months.
If you only need a vehicle for a couple of months, an electric car subscription service might be right for you. Many providers allow you to switch or return your car at the end of the minimum term. If you don't want to continue, you'll have the option to either stop the subscription, or swap for another car.
However, you can extend your contract for as long as you like if you keep paying the monthly subscription fee.
Your monthly payment usually includes:
Many providers include different things in their subscription costs. Depending on your chosen provider, your monthly payment may also include:
There are also other optional extras and incentives included with electric car subscription services - these vary by provider.
To be eligible for an EV subscription service, you must have held a full UK/EU driving licence for at least 1 year.
You may also have to prove that you've been a full UK resident for at least a year or that you're over 25. Some providers also ask for proof that you haven’t had any recent insurance claims or driving convictions.
Some providers have more restrictive eligibility criteria than others. If you aren't eligible for one provider, you may still be able to join a different one.
Given that an electric car subscription brings plenty of benefits to drivers, you might be wondering why it’s not more common knowledge. Well, that’s because it’s still a relatively new form of electric car ownership.
Electric car subscription services have been around in the US since 2010, but the UK only adopted them recently. On.to is currently one of the biggest providers, and that was only formed in 2018.
We hope that you can see how an electric car subscription can help you take your first step towards electric car ownership, without the high upfront costs and hassle of leasing or purchasing an electric car.
Now that you know what an electric car subscription service is, it’s time to find out how it can help you make the switch. Learn more about the benefits of this service in this article, including whether it’s worth investing in.
Leasing has been around a lot longer than subscription services, so drivers may automatically look at the more established option. However, that doesn’t mean that an electric car subscription isn’t a better choice for your circumstance. Read our comparison in this article.
Car leasing can be an attractive option for drivers that don’t want to purchase an electric car outright. This could be for financial reasons, or because you’re not sure you’re ready to commit to a car for the foreseeable future. Either way, this article covers six vital things you should know before you decide to lease an electric car.