Car subscriptions are booming and if you’re looking to get your hands on a new car, and leave all cost worries behind, you better know what to expect when contacting your chosen provider.
The documents and requirements may differ from one subscription company to another. Still, they would all ask you to verify your identity, carry out a credit check, and (sometimes) assess your monthly affordability.
Unlike leasing or when buying a car on finance, car subscription companies won’t need to ask for employment references or 3-years’ worth of evidence.
They would rather ask you for the nature of your work as certain occupations aren’t permitted. Depending on the provider, these may include:
You won’t need many documents to join a car subscription provider for personal use. The main items you’ll need are:
To be able to do all the above, you’ll need to create an account using your full name, email address and date of birth. You’ll be creating an account and joining as the named driver. You can add a second driver to your subscription later.
Make sure you have your documents ready before starting the sign-up process so you can share your documents with the provider as soon as they ask for them.
Now that the required documentation is out of the way, it's worth checking that you meet the eligibility and qualification criteria most vehicle subscription companies adhere to:
Also, providers have more stringent rules when it comes to your driving past. It is very likely that they won't approve your subscription application if you:
See the full list of penalty points.
Ouch, getting rejected from a provider won’t be fun but you have to accept that car subscriptions tend to put more weight on certain aspects of your driving history.
If a car subscription company is unable to accept your application, they will inform you and explain the reasons why you didn’t pass their checks.
As some providers try to get your account up and running as soon as possible, they will as ask you for the deposit before all background checks have been carried out. In those situations, if you don’t meet their requirements, your deposit will be refunded in full.
What we’re talking about here is the car subscription requirements when getting a car for personal use. There are a couple of rules all drivers must follow:
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There are hundreds of cars available via UK subscription companies.
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