Wagonex Has Arrived – The UK’s First Car Subscription Service
September 21, 2017
A new era of car ownership has arrived in the UK, with the UK’s first car subscription service, Wagonex, which launched earlier this year.
Born from the idea that we no longer need to own cars, Wagonex provides vehicles on a subscription basis – meaning that car leases may soon be a thing of the past. For those who want to pay a monthly fee in return for a car and have greater flexibility over how they own a vehicle – we have the solution.
According to the Finance and Leasing Association, car sales secured through garage credit schemes fell by 16% year-on-year in April, May and June of this year – yet, the amount lent still remained the same. With alternative data suggesting that car dealership finance has risen by an average of 20% over the past five years, another survey found that car finance complaints have surged by in excess of 60% – with drivers feeling short-changed and confused when it comes to car finance contracts.
With PCP, personal leasing and hire purchase all presenting the consumer with issues in their own right, Wagonex aims to solve the issues currently faced by buyers when purchasing a car, giving them greater flexibility over how they own a vehicle.
Mobility is becoming increasingly important in everyday life, and for some, cars aren’t necessarily a requirement they need day-to-day. Perhaps a vehicle is only needed for part of the year or at the weekend – for many, this would mean that a vehicle would sit redundant for the majority of the time. Similarly, when life throws an unexpected event at you, and a convertible needs to be swapped for a more family-friendly SUV, if a consumer is tied into a car purchasing agreement then this simply isn’t possible. When life changes, you should be able to change your vehicle to match – and being tied into one car simply doesn’t work for many.
With the subscription services model transforming many other industries, Toby Kernon, Founder of Wagonex, felt that this could hold the key to change which the car industry requires. Providing a way for consumers to avoid making a long-term commitment to a car, which also manages other frustrations such as costly and unexpected maintenance and servicing costs, as well as insurance, Wagonex was born.
The monthly subscription fee covers everything but the petrol, with service, maintenance, rescue and insurance all included. Users sign up online and choose the car they would like to ‘own’, personal checks are then carried out, and once approved a customer is able to pay and arrange to collect the car or have it delivered. Users can also switch their car under their monthly subscription too.
Toby Kernon, Founder of Wagonex, said, “we believe that the ownership of cars will soon become a thing of the past, so we are doing something about it. We are moving towards the world where people are no longer willing to compromise with the time and hassle it takes to look after a car. Wagonex is helping to change this for the better.”
With current brands available including Audi, Mercedes and Volkswagen, other vehicles set to join the platform include BMW, Land Rover, Aston Martin and Bentley. Offering vehicles to suit all lifestyles, Wagonex is changing the future of the automotive industry and providing users with style, flexibility, ease and affordability under one roof.