Cazoo launches car subscription service
The group wants to cash in on the growing popularity of subscription services in all walks of life.
Its research found that almost a third (30%) of UK consumers are interested in subscribing to a car rather than purchasing it outright or financing it.
A fifth (21%) of those surveyed now have more monthly subscriptions than before the pandemic started with 44% of respondents selecting subscription services for convenience, 25% stating that it saves them money and 19% highlighting that it helps with budget planning.
It now offers a range of new cars available for between 6 and 24 months, with ordering entirely online and delivery in as little as 72 hours. At the end of the contract period, the customer can return the car, switch it for another one or keep it on a rolling monthly contract.
Every car subscription includes fully comprehensive insurance cover, servicing, maintenance, road tax and 24/7 roadside assistance and comes with a 1,000 miles monthly allowance and a 7-day money back guarantee. The subscriber supplies the fuel or charges the battery.
Alex Chesterman OBE, Founder & CEO of Cazoo said, “Subscriptions offer flexibility and convenience, and it is clear from our research that a simple and comprehensive car subscription offering is long overdue.
“The launch of our subscription service allows us to now offer consumers both new and used cars and the flexibility to either purchase, finance or subscribe, all entirely online. This is another step forward in our mission to deliver the best and most comprehensive car buying experience to consumers across the UK.”