Cazoo has launched a new car subscription service providing customers with a new car all-inclusive of insurance, maintenance, servicing, and tax for a monthly payment.
The announcement follows as recent research from Cazoo found that almost a third (30%) of UK consumers said they are interested in subscribing to a car rather than purchasing it outright or financing it.
A fifth (21%) of those surveyed by Cazoo 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.
Car subscriptions are becoming increasingly popular as they provide drivers with greater flexibility to switch cars more frequently as well being able to roll all their car-related payments into a single monthly payment, said Cazoo.
Alex Chesterman founder and 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.”
Cazoo recently acquired independent vehicle reconditioning and storage specialists, Smart Fleet Solutions (SFS), for an undisclosed sum.
The deal follows the acquisition by Cazoo of Drover, a car subscription platform.