Vehicle subscription is a service where a customer pays a recurring fee for the right to use one or more automotive vehicles. It's a new form of car ownership that Cadillac and a few other automakers have started offering. More automakers are expected to join them and sometime soon most of us will likely be give the option.

That said, would you consider a car subscription program?

Here's some of the pros and cons, and how it compares to leasing and purchasing.

Pros
  • You don't need to negotiate with car dealers
  • You won't have to worry about financing or trade-in values
  • You don't need to take out a loan from the bank and pay interest on it every month
  • One flat, all-inclusive monthly fee for everything
  • Subscriptions are flexible
  • A broad range of vehicles to choose from
Cons
  • If you have poor credit, you may still get rejected
  • The cost per month may be higher than leasing a car or buying one outright
  • The included mileage may not be enough for some
  • You can't modify the car (in most cases)
  • You will never own the car
Subscriptions vs Leasing vs Purchase
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