Making Sense of a Car Subscription
3 min reading time
Learn more about the benefits and the perks of the car subscription ownership model, with a comparative contrast to traditional leasing and financing.
Subscription models have become increasingly popular across nearly every industry today. From digital streaming services like Netflix, to meal delivery services and other types of physical product subscriptions, anything goes. Recently, OpenRoad Auto Group announced the launch of a revolutionary service: Portfolio — the first luxury vehicle subscription program in Canada.
For a monthly fee, customers can access a fleet of models showcased from over 9 luxury brands.
The idea is simple yet incredibly intuitive. According to their needs and lifestyle, subscribers can “flip” their vehicle up to 4 times per month, allowing flexibility and an endless palette of options. Whether you need an SUV for a trip to Whistler, or you’re simply in the mood to drive something different, this service is going to be right up your alley, pun intended.
There are two major factors distinguishing a true vehicle subscription from a traditional finance or lease style of car ownership.
If the need to be agile is important to you, a subscription service is a great alternative. With a true car subscription service like Portfolio, you can match your vehicle to your changing lifestyle needs rather than committing to one vehicle for a longer term. If you love a particular vehicle, keep it for as long as you want and Portfolio will make sure it still gets regular detailing and maintenance. You’ll always have a vehicle, and you’ll have the freedom to flip into something different whenever you need to.
If you work internationally or travel frequently, the subscription has minimal contractual obligations, and it can be paused at any given time. This ability to pause payments provides more flexibility than a standard lease agreement.
A subscription service removes many of the concerns associated with traditional car ownership. A Portfolio subscription offers truly all-inclusive luxury by covering every last detail. Included in one monthly payment is vehicle insurance, maintenance, detailing, roadside assistance, and a personal concierge service to deliver your new vehicle to any location when you decide to flip your car. Portfolio handles everything on your behalf, making the membership hassle-free and creating a truly bespoke experience.
There is no question that Portfolio is a premium service, made for a premium clientele. When factoring in the flexibility and convenience along with the insurance and maintenance savings that traditional leases lack, the value of a car subscription service is clear for the modern luxury driver.