Cars for Young Drivers on flexible monthly plans
Millennials have subscriptions for their music, TV and mobile phones so why not their first car?
We're in the 'subscription age', where everything from razors to music can be paid for monthly, not to mention mobile phones and Netflix. Leading the adoption of subscription services are the tech-savvy Millennials and Generation Z who no longer care to be owners and want the flexibility and immediacy of accessing the things they want now, rather than saving to buy them later as a large purchase.
Driver 1 are the first company to provide a car subscription service specifically around the needs of first car drivers, making it more affordable for young drivers to pay for a car by the month and return it when they no longer need it. Customers simply choose the first car they want at a monthly subscription, starting from just £96 a month.
Central to the idea is the flexibility to fit in with the lifestyle and time needs of young drivers. With Driver 1 you can have a car for 18 months while at school and then restart your subscription after University. You can start with a city car and then have the freedom to swap to a larger car as you need it.
We wanted to design the service around 'young drivers', and ensure it meets their needs, which have changed a lot for the current young generation. The car industry has not moved in line with the requirements of this age group, so Driver 1 is here to change that.
Young Cars for Young Drivers
Cars provided by Driver 1 are all 3 to 5 years old and have already depreciated in value by 50% to 70% so our customers are paying far lower monthly subscriptions than if they were buying or leasing a new car.
All cars provided by Driver 1 are in low insurance and low tax brackets so they're ideal for new drivers.
Safety is paramount so Driver 1 ensures all cars have Euro Ncap 4 or 5 star ratings, are nearly new, between 3 and 5 years old and have been properly serviced.
We believe that the Driver 1 model can really help move away from the old unsafe cars most young drivers start with into safer nearly new cars which they can't normally afford to buy. We want to ensure that the most vulnerable driver in the household is driving the safest car.
Driver 1 delivers ultimate flexibility for young drivers
Design your own subscription plan, tell us how long you need a car, pause it, or swap it, the choice and flexibility are yours. We have designed Driver 1 exclusively around the needs and lifestyle requirements of first car drivers so they can get on the road in a nearly new car at an affordable monthly price. You could say 'we've made it like your mobile phone subscription, but with wheels on.
We believe that subscribing to your first car makes far more sense than buying, particularly for young drivers who have never bought a car, and who couldn't see the sense of owning something that depreciates in value.
First Cars - reinvented
The options for young drivers are currently limited, with car financing models locking customers in to multi-year periods when they might only want a car for 12 months prior to University and then not need one again until they get their first job.
Young drivers buy what they can afford from their savings, which often ends up to be an old banger which carries inherent safety risks and unknown maintenance costs.
New cars require a large deposit and balloon payment. Young drivers don't see the sense of owning something that depreciates in value by 50% to 70% in three years.
Current car ownership is too inflexible as a 3 or 4 year lease term means parents have the issue of continuing to finance the car after their children have left home for University.