Automotive marketplace Carro has launched a subscription-based car service aimed at reducing the burden of car ownership among Singaporeans.
“A typical person takes nearly six years to pay off their car loan, two-thirds of them even trade in their vehicle before they’ve paid it off, picking up yet another loan,” said Carro’s chief executive and founder Aaron Tan.
Car ownership in Singapore has “reached an inflection point”, he added, and Carro’s service aims to let customers drive their choice car with “no strings attached”.
Carro’s subscription plans lets customers first select a plan they want and not have to worry about associated costs of car ownership.
Carro’s three subscription plans are:
This plan is best suited to individuals or small families getting from point A to point B in cars like the Volkswagen Golf and Toyota Altis.
This plan lets you rent SUVs and 7-seaters like the Toyota Sienta, suited for families who want to travel comfortably with sufficient boot space.
The top-line plan is for those who want to drive a luxury car like a Mercedes or BMW.
For that flat monthly fee, it includes costs like insurance, road tax, warranty, 24-hour assistance and maintenance.
Additionally, at the end of the term, customers can return the car “with no questions asked” about minor wear and tear, dents and scratches, Carro said.
No downpayment is necessary on these plans, and there are no fixed terms either.
Customers can register their interest at carro.sg/leasing.