The UK’s newest and most flexible car subscription service offers a trouble-free all-inclusive deal for both private drivers and businesses who want the convenience and reliability of a quality new car while avoiding locking themselves into a long-term financial contract.
Caasta.com, backed by Green Bison Group, aims to disrupt the new car market and help drivers and businesses manage their motoring costs in these uncertain times by challenging the traditional view of car ownership and long-term leasing.
They are also committed to encouraging the UK’s transition to electric and hybrid cars by making it easier for commercial fleets to switch and by offering a salary sacrifice solution for private members to benefit from generous tax incentives for ultra low emission vehicles (ULEVs).
Caasta is launching with a 50% discount on membership for NHS, key workers and serving members of the armed forces making it even more affordable to enjoy a trouble-free driving experience. Membership gives individual drivers exclusive access to Caasta’s range of top-quality, fully maintained cars backed up by its first class customer service and a range of rewards, offers and discounts.
Caasta.com ‘subscribe and drive’ is the only car service that gives members genuine trouble-free motoring with all-inclusive monthly pricing backed up with a commitment to providing a first-rate, ‘no-quibble’ service. The monthly subscription includes: fully comprehensive insurance, road tax, manufacturer’s recommended servicing, maintenance and repairs, UK breakdown (including @home) and accident cover, glass repair and replacement tyres (subject to fair wear and tear). Caasta also guarantees no vehicle is over 12 months old or 12,000 miles.
Caasta’s private membership model is based on an 89-day contract which limits the driver’s liability and enables them to swap their car at renewal: for another vehicle on the same level if they choose**; or switch up, or down vehicle levels if their needs or circumstances change (subject to a change in monthly fee); or simply hand the car back – all without the financial penalties associated with normal leasing or hire arrangements.
The same all-inclusive package applies to Caasta’s options for small businesses and larger fleets. Businesses are subject to a maximum 12-month contract, compared with typical four-year fleet contracts, and enjoy ‘pooled mileage’ across their fleet to avoid or minimize excess mileage costs as well as a complimentary £500 damage waiver – again reducing the businesses liability for damages. Like individual members, businesses have the option to hand back a vehicle after the first three months with 14 days notice – giving them total confidence that they can manage their financial liability.
The single monthly fee will also help businesses manage cash-flow and their fleet costs without the high upfront costs usually associated with fleet leasing options. Fleet managers will also welcome short-term contracts as many businesses are committed to switching to green fleets. So businesses can give their drivers the opportunity to experience a ULEV and benefit from significant tax savings and the favourable benefit in kind savings for their employee afforded by ULEVs while retaining the option to switch to a conventional petrol or diesel vehicle at 12 months if it does not suit their needs.
Rapid improvements in electric vehicle range and the UK’s charging infrastructure are making the switch to electric or hybrid vehicles a viable and attractive option for businesses and private motorists and will unlock lower running and maintenance costs.
Salary sacrifice service for ULEVs
Caasta also offer a salary sacrifice service for the supply of Ultra Low Emission Vehicles (ULEVs) to individuals as part of its commitment to encouraging and supporting the transition to low emission and electric vehicles. By choosing this option members access the benefit in kind and tax incentives with Caasta managing the procurement and administration on behalf of their employers who are simply required to make the necessary pay role changes. The service is available to small, medium and large enterprises and there is no minimum employee requirement. The maximum commitment on any individual in the scheme is 12 months with no deposit, no early termination fees and no hidden unexpected fees, just transparent pricing. The average saving on forecourt prices is 28% but can be much greater.
Individual membership is an annual fee starting at £700 for compact models rising to £1200 for large family cars. This reduces in years two and three – dropping to zero in year four and beyond. Caasta is offering 50% off the first year’s membership for NHS and key workers as well as serving members of the armed forces for a period of 12 months – a minimum saving of £350.
Members will enjoy a choice of high spec vehicles from top manufacturers including BMW, Mini, Renault, Nissan and Peugeot and when they choose their vehicle it will be delivered direct to their door within 21 days**. The range includes electric and hybrid options and will be under constant review with new models coming online each month. Caasta will also launch additional vehicle levels for executive, luxury and performance cars in the coming months.
Members and businesses benefit from a dedicated personal account manager who will provide a friendly and consistent point of contact for all their needs. Drivers will also have access to an online portal that allows them to manage their account and total driving experience and fleet managers will access a similar portal with full reporting on their fleet vehicles, driver records and the opportunity to benefit from significant cost savings with fuel saving tips and advice.
Caasta chief executive Mike Minahan said, “Our aim is to offer private motorists and businesses a realistic alternative to long-term finance contracts and big upfront payments with access to fully-inclusive ‘trouble-free’ quality vehicles. In these uncertain times our subscription car service is one-less thing to worry about – just add fuel or charge and leave the rest to us.
“Caasta was developed to meet the changing needs of today’s drivers to offer flexibility, certainty and a competitive alternative to long-term leasing deals and loans.
“It is also a realistic option for drivers whose current financial situation means they would struggle to meet the financial assessment required for such long-term agreements. Caasta’s 89-day contracts for private members reduces their liability and offers a more realistic and affordable option for them with the all-inclusive monthly fee providing certainty on their motoring costs.
“In a time of uncertainty we believe this has even greater relevance for those in the market for a new car.
What’s more they can leave after their first three months’ subscription if their circumstances change or they want to take a payment break without penalty with 14 days notice required.
“Increasingly subscription services are used by consumers to help manage costs and budget more effectively. It began with mobile phones, gym membership and services like Amazon Prime but the model works for virtually any consumer product or service,” he added.
“The high cost of modern vehicles has led to ever bigger car loans and leasing arrangements with long-term contracts and for many this is no longer attractive or sustainable.”
Research by the Leasing Broker Federation found that four out of ten drivers (39%) asked for short-term lease products and express their worry about the long-term financial liability of buying or leasing a new car. The same number (39%) would like a package that includes all the vehicle’s running and maintenance costs including fully comprehensive insurance.
Minahan went on, “The Caasta model is equally relevant to business fleets as to private motorists. We have already signed up a number of businesses, large and small, who are keen to experience a new flexible approach to managing their business fleets without locking themselves into a typical four-year contract. So they can keep their options open while meeting their immediate needs for employees to be on the road, in a fully insured and maintained vehicle while helping them to manage cash-flow with a single fixed monthly fee per vehicle.
“Our salary sacrifice service gives motorists access to the benefit in kind and tax savings for choosing a ULEV which would not be accessible to them unless it was an option via their current employer and we also take on the administration and liability on behalf of their employer.”