BMW and Mini are launching a subscription service which rolls all the costs of vehicle ownership into periodical installments. Using this subscription service a new Mini could cost up to $562 per month when everything is accounted for.
The idea of leasing new cars instead of buying them upfront is catching on with other companies as well like Volvo. They have advertised with the hook of paying a fixed economical fee to drive the car that is desired hassle free and without any commitment. BMW has announced a Mobility Partnership in this way with Drover to give an all-in monthly option to get behind the wheel of a new Mini or a BMW.
Features of the BMW/ Mini Subscription Service
The payments are going to start from 131 pounds per week or 568 pounds per month and will include the costs of insurance, maintenance and even cover breakdowns. Even though BMW is the first major brand to offer such a service within the United Kingdom, others like Polestar, Volvo are exclusively selling the performance division in this manner. The service will be handled courtesy of Drover which is a car subscription firm and it will handle several models from both of the brands.
At the base level, the Mini will offer the Cooper 3dr hatch for this service and BMW, the 116d Sport. On the higher trims, the 5 series and the 13 will be availed. Clients will also be able to downgrade or even swap vehicles at any time or cancel contracts.
There will not be any long term commitment or down payments apparently which is going to be interesting considering such things as damage considerations, liability and resale value. According to the head of BMW in the UK, Chris Brownbridge, the model being executed by Drover will give a wider range of ways so they can access both BMW and Mini vehicles for the retail buyers to suit the changing needs.
The Times are Changing
This new system is allegedly representative of the quick evolution of the new car market which is allegedly dominated according to personal contract purchase finance. Everyone wants to pay for their vehicle in a manner that would suit them or their lifestyle.
A number of industry experts are predicting that the rise of the EV and autonomous era will see general financing being replaced by subscription services which allow the users to access car sharing schemes. To be truthful, they are on to something. The subscription service changes things completely considering the clients will now have access to downgrading or even swapping BMW or Mini models.
It allows the user to have complete flexibility on the model they choose to use provided it is within the range they have been issued by the two companies. Soon the clients will start to consider this as a stylized option as it expands to other brands and car ownership will take on another concept. One will be able to try on new experiences with separate cars everyday if they so wish provided they make a standard payment. Cars may become property that is usually rented rather than owned.