12.25.19 Car subscriptions services; Making money online

The Clark Howard Podcast

Clark Howard

Business, Investing, Entrepreneurship

4.6 • 5.2K Ratings

🗓️ 25 December 2019

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

People have become comfortable subscribing to most anything. But cars is a new frontier. The first efforts at car subscription services appeared in 2017, all aimed at the luxury market. $1 - $2K a month bought a rotating fleet of vehicles as desired. Current services limit changeouts. There are now subscription services competitive with typical vehicle costs. The cost of having a vehicle all in averages around $700 a month. Now car subscription services are appearing that include insurance, maintenance and all fees with no long term commitment for $500- to $700 a month. This allows you to flex vehicle needs from sedans to trucks. At this price level, these will be typical vehicles. This could be a good choice for convenience leasers. The best answer remains buying a used car and driving it until the wheels fall off. Clark’s has talked about Mechanical Turk (MTurk), now the subject of a NYT report, claiming it’s a waste of time paying .97cents an hour. Our own investigation found you could average making around $7 an hour. True, many surveys on the site are a waste of time. But there’s a plugin we recommend to figure out which surveys are worth your time. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Thanks for taking time out of your day to join us here on the Clark Howard Show where it's
0:10.7	all about you and that wall of yours.
0:13.4	Want you to learn ideas from me so you can keep more of what you make.
0:18.8	And coming up in just a little while, I want to talk to you about something that just
0:24.8	got bashed in the New York Times.
0:29.0	And it's something I had actually talked about as a viable alternative for you for part-time
0:35.0	work from your home.
0:36.9	I want to tell you how to make it work for you, not work against you like the New York
0:41.4	Times says it does.
0:43.7	So I'm so careful how I talk about the topic that I'm about to address and it's probably
0:50.9	the third time in the last two years that I've addressed it.
0:56.6	And it's in reaction to questions people are asking me about this and that is car subscription
1:03.0	services instead of buying or leasing.
1:07.8	People become very comfortable subscribing to most anything and a car is like a new frontier
1:15.9	in this.
1:17.6	And it's something that started off.
1:21.4	I guess it was early 2017 that the first efforts at car subscription services appeared
1:27.7	in the market and they were all aimed at the ultra luxury market for very wealthy people
1:35.6	that cars were just looked at as a luxury item they spent money on.
1:41.2	And so you could sign up with one of these services and pay a fee of up to a couple of
1:47.6	$5,000 a month, typically from $1,000 to $2,000 a month.
1:52.3	And that would make available to you a fleet of vehicles that you could change out of whenever
	...

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