Wagonex, a car subscription service has launched in the UK.
The London-based company charges users a monthly fee on a rolling basis which covers service, maintenance, rescue, and insurance but excludes petrol.
Users sign up to the website and choose their car before personal checks are carried out. Once approved, customers pay and arrange to collect the car or have it delivered to them.
Wagonex users can switch cars under its monthly plan, with a range that currently includes the Toyota Yaris, the Aston Martin DB11, and the Volvo XC60, among others. Its cheapest plan at present is the Fiat 500, available for £550 per month.
In a blog on its website, Toby Kernon, Wagonex chief executive officer and founder said the company was preparing for a world of declining car ownership. In January, accounting firm KPMG predicted that car ownership could end within a decade.
He said: “We believe that the ownership of cars will soon become a thing of the past, so we are doing something about it.
“We are moving towards the world where people are no longer willing to compromise with the time and hassle it takes to look after a car. Wagonex is helping to change this for the better.”