Most Consumers Don't Know About Car Subscription Services

More and more automakers are launching subscription services as another option to get into new or used cars. But a new report shows the subscription services are still flying under the radar for most consumers.

Autolist recently conducted a survey with 1,428 car shoppers in the second half of April. This is what they found out.

• 70 percent of shoppers had no idea that such a thing existed
• Out of the 30 percent of shoppers who knew about subscription services, only half could actually name one
• 33 percent would consider a subscription service for their next vehicle. The number climbs to 45 percent when asked if they would consider it in the future
• The big draw to subscription services? 37 percent of shoppers said the ability to switch between different types of vehicles. This was followed by no long-term commitment (32 percent).

The results aren't really that surprising. Only one subscription service, Care by Volvo is available nationwide. All of the other services are in limited to one or a few cities. Book by Cadillac is only available in New York, but there are plans to expand it to Dallas and LA in the coming year. Not helping is most of the services being offered come from luxury automakers which means high prices. 

Source: Autolist