As an independent contract worker, you need to find ways to save money so your business runs easier. Everything from the way you set up your office, to the way you buy supplies, to the way you drive should be set up for the purpose of saving you money, so that you earn more profit. Many people become independent contractors because of the freedom to sink or swim based on their own choices. It can work out well, but it can also fail.
That being said, those who are creative in how they manage to get things done usually find solutions to many mundane problems such as obtaining a vehicle. There are several ways for both regular consumers and business consumers to buy automobiles: they can either finance, lease, purchase outright, or sign up for a car subscription service. All three options will get you a vehicle, but only one is the best option for contract workers.
The lives of contract workers are usually marked by busy times and… well, not so busy times. In other words, the money of a contract worker is not always consistent, and because of this, they need to find a way to save the most money on essential items, like cars.
Car subscription services like the ones offered at AUTO ONE Group are ideal for contract workers because a) they do not require them to pay taxes on the entire vehicle, b) they do it require them to use their own insurance, and c) subscriptions are flexible, meaning that you can re-evaluate your needs month to month.
As with a traditional, the option is usually open for you, the lessee, to purchase the vehicle if you desire to do so. However if you do not, subscription is still a flexible option as it allows you to exchange or renew your vehicle monthly.
A vehicle’s depreciation – that is, the rate at which is loses value upon leaving the lot – is something that also needs to be considered by anyone purchasing a vehicle. And the cost of gas, insurance, and repairs need to be factored as well when crunching the numbers on vehicle ownership. Car subscriptions (and leasing, for that matter) takes a lot of the guesswork and footwork out of such factors, as the dealership or car leasing company is still primarily responsible for the vehicle. Often times, insurance and repairs can be done in house.
There is also something to be said about presentation – the way in which you, as a contractor, need to present yourself in order to make a good impression. Purchasing a car requires you to keep it for longer than you would if you had leased or subscribed for it, which means that it can become obsolete. Car subscription services provide a solution, as you don’t pay as much for your vehicle, and you have the option to be flexible and upgrade or change your vehicle as the conditions of your work change.
You can drive a Porsche one month, while you’re out meeting prospective clients and employers, and drive a Civic the next. You may want to get a truck for more utility, or you may want to get a luxury vehicle to give the appearance of success; with car subscriptions, you can exchange or renew your vehicle monthly.
In short, car subscriptions are a godsend for contract workers. They save money, remain flexible enough to keep up with the precariousness of the work, and give you an opportunity to tailor your vehicle to your month-to-month needs.