April 3, 2019

Carro, Southeast Asia’s largest automotive marketplace, announced the launch of Singapore’s very first subscription-based car service—offering consumers the flexibility of selecting a plan and driving off with a car of their choice without the hassle of traditional car ownership.

Carro understands that today’s generation of drivers want to enjoy the convenience of owning a car without needing to worry about annual depreciation and unexpected expenses such as repairs, roadside assistance and insurance premiums. By introducing a subscription-based service, users can pay a flat monthly fee that includes all costs associated with car ownership—insurance, road tax, warranty, 24-hour assistance, and maintenance costs. For added peace of mind, at the end of the term, customers can return the car with no questions asked about minor wear and tear, dents and scratches.

“A typical person takes nearly six years to pay off their car loan, two thirds of them even trade in their vehicle before they’ve paid it off, picking up yet another loan,” said Aaron Tan, CEO and Founder of Carro. “Car ownership in Singapore has reached an inflection point and this offering is going to revolutionise car ownership in the country. We are empowering consumers with the flexibility to drive the car of choice with the option to return it at any time, no strings attached.”

Through Carro’s flexible subscription-based service, currently available in three plans – Daily, Roomy, and Fancy – users no longer have to stick with the same type of car for the full period of ten years. Car owners can start out with a compact vehicle, move to an SUV or MPV when starting a family, and eventually upgrade to a luxury car. Users can choose to return the car anytime, forget about the need to sell the car after using—a truly hassle-free car ownership experience.

Carro is transforming car ownership through its 360-degree approach which includes buying and selling, financing, insurance, warranty, workshop and roadside assistance. To date, Carro’s forays across Southeast Asia include Singapore, Thailand and Indonesia. The company is the region’s largest automotive marketplace—having transacted over US$500 million worth of cars in 2018.

Carro Subscription Plans

Daily: For $1,199 a month, this plan is perfect for individuals or small families to get around from point A to point B in cars like the Volkswagen Golf and Toyota Altis.

Roomy: For $1,499 a month, this plan is better suited for families who want to travel comfortably with sufficient boot space in SUVs and 7-seater cars.

Fancy: For $1,999 a month, this luxury plan is for those who want to cruise around in a Mercedes, BMW, and the likes.