Whether you’re a veteran on the streets looking for an upgrade or just getting started with rideshare driving without a car, there are a few options to own one. The most popular is car finance, which, compared to a car subscription, means locking yourself in for a fixed number of years, without the possibility of returning the car.

However, popular doesn’t always mean the best. Splend is here to challenge car finance and to offer a better, smarter way of owning a car, without sacrificing extra money or time.

Pricing is one of the most important criteria when choosing a car, apart from good service, and overall support. We also know it’s very tempting to consider car finance offers just by looking at the weekly payment headline. Similar to buying a plane ticket, for example, you often find yourself paying a lot more than the initial “from” price.

Car finance is oftentimes more expensive. It only includes the basic – the car and a few other extras, but it doesn’t account for added running costs, like insurance, servicing, maintenance, or various authorisations, all of which are critical as a rideshare driver. This is where Splend comes in.

 

Why are Splend prices more affordable than car finance?

Compared to car finance, the Flexi own plan is easy to understand, making car ownership affordable and worry-free. One clear weekly payment that includes all the essentials to keep you on the road, earning an income.

Our plans include everything required for a rideshare driver. By us taking care of everything, it means you save both time and money.

How much can you really save with Splend?

Don’t take our word for it. Below is a data-based example comparison for the Toyota Camry Hybrid, which shows you how much you can save weekly on the Flexi own plan. We considered a 12% interest rate (APR).

  DYI car finance Splend Flexi own
Car model Toyota Camry Hybrid Toyota Camry Hybrid
Car payment $250 included
Loss & accident cover $55 included
Servicing $53.5 included
Maintenance $16.5 included
Registration & CTP $19 included
Rideshare admin $6 included
Weekly payment $400 $369

The above comparison tables are for illustrative purposes only. We recommend all customers conduct their own research before purchasing. Below is a breakdown of the calculations used.

Car payment – based on the following details: Toyota Camry Hybrid at a driveaway RRP cost of $37,888 (as at 13 December 2021); Pricing based on a 12% interest rate (APR) with weekly repayments and no residual/balloon payment at the end of the contract; This payment does not include the upfront $990 loan establishment fees or deposit that may be charged by financial institutions.
Loss & accident cover – estimated price based on 31-year-old male residing in Auburn NSW, having held a driver’s licence for 12 years, with no insurance claims in the past 3 years; with a 12-month policy paid monthly for comprehensive rideshare insurance of a Toyota Camry Hybrid.
Servicing – based on Toyota’s scheduled servicing to 180,000 km as per the manufacturer’s guidelines.
Rideshare insurance – estimated pricing based on a 33-year-old male who has held a PCO licence for over 2 years, has made no claims in the last four years, based in South London with an estimated mileage of 36,000 annually.
Servicing – calculated based on scheduled servicing to 100,000 miles as per each of the manufacturer’s guidelines.
Maintenancebased on 10 replacement tyres, 6 x 2 replacement brake pads and  2 x 2 replacement brake discs for a Toyota Camry Hybrid over 4 years.
Registration & CTP  – based on a Toyota Camry Hybrid with the cost of registration and CTP averaged across all States.
Rideshare admin – based on a Toyota Camry Hybrid with the cost of rideshare licensing and inspection averaged across all States.

Why choose Splend over car finance?

We’re more than about affordable prices. We’re also about flexibility, peace of mind, and dedicated support from day 1, so you can do what you do best – drive.

The Flexi own plan comes packed with features and benefits, so all you have to worry about is thriving as a rideshare driver.

DYI car finance Splend Flexi own
Minimum contract 208 weeks 26 weeks
No large deposit
Flexible car ownership
Low credit score accepted
High mileage means early ownership
Car registration & CTP insurance
Loss & accident cover
Replacement car*
Scheduled maintenance
Maintenance pack
Car inspection
Rideshare admin
Dedicated support
Referral bonus
Member benefits

*Subject to availability

About Splend

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 members enjoy driver training and dedicated support via a personal account manager, as well as member benefits such as partner discounts and exclusive events.

For more information about Splend, drop by to your local Member Support Centreemail us or say hello on 1800 775 363.