Whether you have several years of ridesharing experience behind you or have just decided to become an Uber driver, you’ve probably wondered if it’s better to get on a rent to own car subscription or buy a car for on-demand driving. Each option has its pros and cons, but since they’re so different, there is going to be a compromise either way.
But what if there was a middle way that provided the flexibility of car subscription and the ability to own the car at the end of the agreement?
Our Flexi own car plan combines the ease and flexibility of car subscription with the benefits of buying a new car. If you’re not fully committed to either one, this might be a solution to consider.
As the name suggests, you’re renting the car or paying a subscription to drive it, and it becomes yours at the end of your agreement.
Instead of saying goodbye to your hard-earned money with every weekly subscription payment, you’re investing it long-term.
Yes. Compared to traditional car finance, where you first apply for a loan that you repay later, with our Flexi own plan you pay one week in advance. Hence, there’s no need for credit, and therefore you can own a car even if you have a poor credit score. We consider all applications.
The Flexi own plan is very similar to a standard rental agreement. Since you always pay the next week’s subscription, you can apply even with a bad credit score. Your Flexi own contract will also not affect your credit rating in any way.
The biggest difference between the Flexi own plan and a car lease is that you don’t need to apply for credit. And that’s just the tip of the iceberg. Here’s a list of the major differences when comparing Splend’s Flexi own plan to a car lease:
It’s actually the same concept, but different companies use different terms. Whether it’s called rent to own or rent to buy, they’re both a solution to become a car owner even if you have bad credit – since renting means paying in advance, and therefore no credit check is required.
Yes. The amount will vary depending on your subscription provider.
With Splend there is a one-off setup fee to cover the costs of ordering and shipping your car, as well as the necessary paperwork, so your car is ready for work from day one. The setup fee also gives you access to all Splend customer benefits for the entire duration of your subscription, such as dedicated support, professional training, customer events, and more.
Yes. If it’s stipulated in your subscription agreement, you can drive with Uber.
Splend’s Flexi own is a car subscription plan tailored for Uber drivers’ needs. On-demand drivers can access new-model cars on a flexible payment plan that fits their dynamic lifestyle.
Our cars meet all safety, accessibility, and emissions standards for on-demand driving in Australia, and they come with all the paperwork prepared, such as registration and Loss and Damage cover.
We can also help get you started with Uber, free of charge.
The biggest pro of a car subscription plan is the flexibility it provides when compared to a car lease or car finance. It’s one of the most accessible ways to buy a car – it only takes 15 hours a week of driving.
A downside car subscription plans could have is a slightly higher upfront cost. To start with Splend’s Flexi own plan, you pay the downpayment and one week’s subscription payment in advance.
For a car with a weekly subscription fee of $319, you will have to pay a total upfront cost of $1,219 if you pick up your car on Monday. This amount is similar or even smaller compared to the deposit you have to pay to start with car finance.
This depends on many factors, but if you are looking for a flexible way to own a new model car, then the answer is yes.
At Splend, we recommend our Flexi own plan if:
If you’re after ultimate flexibility and you don’t want to own the car you use for on-demand driving, you might want to check our Flexi plan instead.
After you’ve paid the setup fee, you need to pay a collection day fee for the remainder of the week you decide to pick up the car and the full amount for the next week. Since Flexi own isn’t a credit-based payment plan, you always pay for the upcoming period instead of repaying a loan.
Yes. As with any car on the road, subscription cars also need insurance.
All Splend cars also come with comprehensive rideshare insurance, that allows you to use the car for on-demand applications, such as Uber.
Yes. Depending on your provider, you can use a debit or credit card, issued by any bank.
With Flexi own, we charge your nominated debit or credit card with your weekly subscription fee plus any additional charges every Wednesday. You only need to make sure you have enough money in your account when your payment is due.
This amount will depend on the weekly cost associated with your Flexi own plan. The cars currently available for Splend’s Flexi own start from $392 per week.
If you pick up a $329 per week car on a Wednesday, it will cost you $1,507 to start. Remember, this includes the one-time setup fee, plus four days’ worth of subscription payments until Sunday, as well as the whole next week in advance. After paying the upfront cost, you’ll be charged a $329 subscription fee each week plus additional charges.
Additional charges may include your excess mileage fees or any late fees in case you miss a payment. For Splend Flexi own these amount to $0.10 for every km above your 1,000-kilometre weekly allowance, and go towards early repayment—the more you drive, the sooner you own the car.
We enable people to make money by driving for on-demand apps such as Uber.
We’re more than a car subscription provider. In addition to new-model cars and all the essentials to start earning money with Uber as quickly as possible, our customers enjoy driver training and dedicated support, as well as customer benefits such as partner discounts and exclusive events.
Better Option than Regular Car Finance
Our flexible plans and Uber-approved cars make driving more accessible, without the hassle of car financing.