Why is Splend better than car finance?

Whether you’re a veteran on the streets looking for an upgrade or want to become an Uber driver although you don't have a car, there are a few options to own one. The most popular is car finance, which, compared to car subscription, means locking yourself in for a fixed number of years, without the possibility of returning the car. However, popular doesn’t always mean the best. Splend is here to challenge car finance and to offer a better, smarter way of owning a car, without sacrificing extra money or time. Pricing is one of the most important criteria when choosing a car, apart from good service, and overall support. We also know it’s very tempting to consider car finance offers just by looking at the weekly payment headline. Similar to buying a plane ticket, for example, you often find yourself paying a lot more than the initial “from” price.

Car finance is oftentimes more expensive. It only includes the basic – the car and a few other extras, but it doesn’t account for added running costs, like insurance, servicing, maintenance, or various authorisations, all of which are critical for a rideshare driver. This is where Splend comes in.

Contents

• Why are Splend prices more affordable than car finance?

• How much can you really save with Splend?

• Why choose Splend over car finance?

Why are Splend prices more affordable than car finance?

Compared to car finance, the Flexi own plan is easy to understand, making car ownership affordable and worry-free. One clear weekly payment that includes all the essentials to keep you on the road, earning an income. Our plans include everything required for a rideshare driver. By us taking care of everything, it means you save both time and money.

How much can you really save with Splend?

Don’t take our word for it. Below is a data-based example comparison for the Polestar 2 Standard Range, which shows you how much you can save weekly on the Flexi own plan. We considered a 12% interest rate (APR) over 5 year contract for the DIY finance cost.

Note the above does not take into account additional Splend benefits, such as free Courtesy car to keep you on the road during warranty repairs or accidents.

The above comparison tables are for illustrative purposes only. We recommend all customers conduct their own research before purchasing. This estimation is based on the prices in September 2024.

Car payment - Pricing based on a 12% interest rate (APR) with weekly repayments and no residual/balloon payment at the end of the contract; This calculation does not include the Splend upfront $990 loan establishment fees or any fees that may be charged by financial institutions. Insurance - estimated price based on 31-year-old male residing in Auburn NSW, having held a driver's licence for 12 years, with no insurance claims in the past 3 years; with a 12-month policy paid monthly for comprehensive rideshare insurance of a Polestar 2 Standard Range. Servicing - based on Polestar's scheduled servicing as per the manufacturer's guidelines. Servicing  & parts - calculated based on scheduled servicing to 100,000 miles as per each of the manufacturer's guidelines. Registration & CTP  - based on a Polestar 2 Standard Range with the cost of registration and CTP averaged across all States.

Why choose Splend over car finance?

We’re more than about affordable prices. We’re also about flexibility, peace of mind, and dedicated support from day one, so you can do what you do best — drive. The Flexi own plan comes packed with features and benefits, so all you have to worry about is thriving as a rideshare driver.

*Subject to availability

About Splend

Splend makes car ownership easier, more affordable and more accessible for rideshare drivers by building everything they need to earn more, pay less and stress less into one affordable weekly payment. It’s smooth driving, with no surprises and the lowest total ownership cost you’ll find – which is how car ownership for rideshare drivers should be.

For more information about Splend, make an appointment and drop by to your local Splend Hub, email us, or say hello on 1800 775 363.