Consider these 9 things before investing in mutual funds!
What is the right way to invest in mutual funds? How do mutual funds work? What kind of risk is involved? Which fund is right for whom? What things should be kept in mind before investing? Watch this video to know-
The Covid-19 pandemic has provided a massive nudge to those who were sitting on the fence when it came to the decision of buying a car and ditch public transport. But owning a personal vehicle is going to be out of bounds for many people due to financial constraints. In that scenario, a car subscription can help consumers get around this problem.
Subscribing is a medium-term solution and is a more affordable and convenient way compared to short-term rentals or ride-hailing services.
What is a car subscription?
A car subscription is a monthly plan that grants you access to a range of vehicles in lieu of a subscription fee. Compared to a traditional lease or rent, most car subscription services have much more flexibility. You can subscribe to a car of your choice for a month to 1 year. With a car subscription, you do not have to spend extra money on maintenance or insurance.
How does it work?
You can subscribe a new or a used car depending on your preference and budget.
It works on a business model that allows you to be an owner without paying the full amount for it. You just have to pay the amount for the duration you will be using it.
Here, you get more options while selecting the car and can swap it for a different one if you get bored using a particlular model. You also have more flexibility over how long you want to use the vehicle.
Zoomcar, Revv, Mychoize and Myles are the four major players in the subscription market. Zoomcar has spread its services across 37 cities followed by Mycoize in 20 cities, Revv in 19 cities and Myles in 4 cities.
Who can opt for a car subscription plan?
A car subscription plan isn’t only for those who do not have a car. But also for those who already have a car in his name. You can choose to rent or subscribe to a car for several reasons such as family vacations, going on business trips, or as a replacement to a car that’s being repaired.
Making a choice
So, if you are looking to own a car for a short period, then this is the best option for you. Through car subscription plans, an individual can live his or her dream of driving a luxurious car without having to pay the amount needed to buy that car.
Additionally, it is also a reasonable mobility solution for people who often travel from one city to another. To put it simply, a car subscription also saves you from transporting your vehicle every time you move to a new city and thereby, providing an affordable and hassle-free mobility solution.