There have been whispers about the “end of ownership” for years, across everything from housing and home furnishings, to clothing and cars.
Younger generations are not following the traditional path of paying off loans and mortgages – instead of trading more significant purchases to focus on experiences they can enjoy now.
In the place of ownership, users have increased. Best seen in subscription programs like Spotify and Netflix, people still want access to products but don’t necessarily want to take the plunge of buying them outright. It’s rare to see people buying a CD or DVD these days.
So how does this new trend work in the car market?
Car Ownership vs. Car Subscription
Car ownership is the traditional model whereby consumers purchase a vehicle outright.
You own the title, and, from that moment on, you are responsible for all maintenance, insurance, and other associated costs that come with owning a car.
Paying the whole cost upfront is a challenge for many Americans, so it’s likely purchasers will also need to enter some loan agreement from a bank or other lender.
How it works, the lender covers the balance between the deposit and the full cost of the car. Then in return, you have to pay monthly installments, plus interest, for the life of the loan. The lender will keep the title of the loan as collateral and be able to seize it if you default on payments.
Subscription is the new way of using a car, with all the benefits of car ownership but none of the financial burden.
The most popular model is car subscription services where customers pay a fixed monthly cost to drive a vehicle of their choice, and with the ability to cancel at any time. Other car user models include car-sharing services such as Zipcar and ride-hailing like Uber and Lyft. Both of these models are based on single journeys and generally have higher costs and less convenience.
How Do Car Subscriptions Work?
Car subscriptions put you in the driver’s seat, allowing you to find a car that best reflects your values and budget. You may be looking for the most environmentally-friendly car in the market or one with cutting edge in-vehicle technology. Or perhaps your focus is finding a car that you can pay for with a single, manageable monthly payment, without having to worry about long-term loans or depreciating value.
Turn car subscriptions; all you need to do is download the Turn app or browse our range of well-maintained vehicles. Once you’ve chosen your vehicle, you need to supply some information to our approvals team and pay the starter payment.
Then you’re away! We’ll deliver your new car directly to your door, and you’ll have the keys in your hand before you know it.
If you decide you no longer want your car, no problem. You can cancel the subscription at any time, and we will pick up the vehicle from you with no cancelation or disposition fee required.
The Turn Difference
Turn car subscriptions are part of the modern wave of car ownership, which prizes transparency, flexibility, and convenience.
For your flat monthly payment, you’re not only getting an unlimited access to your vehicle; you’re getting the peace of mind. Your fee covers all vehicle costs, including collision and comprehensive insurance* and roadside assistance.
It’s Your Turn
So, if you’re looking for a flexible alternative to car ownership in Southern California, this is it.
With Turn, you can embrace the exciting – and stress-free – world of car subscription and find your perfect set of wheels today.
*Driver must provide proof of liability insurance.