In conversations with people intending to get a car via a subscription, we discovered that there are many misconceptions regarding the process of obtaining this vehicle financing option. Because getting a car subscription may just be ideal for you, let’s talk about some of the misconceptions you may have about car leasing.
The car Is not yours
You may have assumed that because you are driving on a subscription basis, you would have to drive in a specific manner.
MAX subscriptions are designed to eventually allow you, the driver, to own the car. Essentially, the car is already yours, you are just using a smart financially viable long-term plan to purchase the car.
What we mean is, feel free to drive with the freedom of a car owner, but also drive safely, for your protection.
You are essentially working for MAX
This is specific to drivers who plan to or are currently using their vehicles to earn through some sort of ride-hailing or carpooling service. MAX is not your boss. MAX does not require that you work at a certain time, report your ride details, or anything of the sort. On the contrary, MAX works for you. You get 24/7 support when you have a subscription with MAX. This means that any time you have a problem, we have your back.
You need a make a down payment before you can get a new vehicle
This is easy enough to answer and is one of the things we try to iterate as much as possible. MAX subscriptions require zero(0) down payment.
There are hidden fees that you won’t be told about
Like some people, you may have had bad experiences with vehicle leasing companies, where you were lured in with low monthly payments only to be surprised by an increase after the finance agreement was signed. This is most emphatically not the situation at MAX.
The essence of getting a car subscription is that you pay the price you see. Before you commit to anything, MAX’s subscription model tells you the complete cost of subscribing to your car.
Before you sign, you can be confident that everything you are needed to pay for would have been properly specified and disclosed to you, and will not change for the duration of your subscription.
I have to pay the high insurance fee for my lease
You don’t. Leased car insurance is the same as any other car. Regardless of who owns the car, insurance companies are aware of the risk of damage, theft, and accidents. Plus, the MAX subscription option includes car insurance, so you don’t have to worry about it.
Car Subscriptions Are Too Complicated
This is only true if you do not have the facts and data before negotiating. In reality, several phrases and jargon used in vehicle subscriptions may be unfamiliar to you, such as capitalized cost reduction, acquisition charge (or bank fee or initiation fee), and so on. While these concepts are not difficult to grasp, they are not necessary to get into. The goal of having a subscription is to save money by buying an automobile for a reasonable monthly payment and total cost.
We hope this has covered any anxieties you may have had regarding getting yourself a car subscription or telling someone about it. We are always available should you wish to speak to us regarding any inquiries you may have.
