Subscriptions can one of the most cost effective new car deals because most of the costs of driving are included in the monthly payment. There are various independent subscriptions companies out there and several manufacturers run their own schemes, as well. Volvo and Jaguar Land Rover have well-established subscription products available and you can add Hyundai’s Mocean service to them.
Most of the Hyundai model range is available through Mocean, with prices starting at £359 (inc. VAT) per month for a 24-month contract. The price includes road tax, insurance, maintenance and breakdown cover – all you have to pay for is fuel (or electricity, if you get an electric car). Note that Mocean is only available through seven Hyundai dealers in London. Plans to expand into other areas of the UK are yet to materialise.
How does Mocean work?
One of the big advantages of car subscriptions is that they don’t require a large up-front deposit, unlike finance deals such as personal contract purchase (PCP). Go for the minimum contract term and you can swap cars every three months.
The service covers almost all of Hyundai’s model range including petrol, plug-in hybrid and electric cars. You can order your car online and have it delivered to your door within days or pick it up from a dealer. If you need to cancel your subscription for any reason, you just need to give one month of notice. Getting out of a finance deal can be much more complicated.
Inevitably, there are caveats. You have to clear some solvency checks and have had a full UK or EU driving license for at least 12 months. There are restrictions on how many drivers can be insured on the car, as well. Insurance is free if you’re over 50; younger people have to pay extra for it, albeit less than market rates. Exclusions for previous claims and disqualifications apply.
At the time of writing, only nearly new and used cars are available through Mocean. Hyundai defines nearly new as under 12 months old with less than 12,000 miles; used cars are less than three years old with under 36,000 miles.
What cars are available on Mocean?
There’s a diverse selection of cars available from across the Hyundai range, though the choice of engine/trim level combinations can be limited by what cars the participating dealers have in stock.
How much does Hyundai’s subscription service cost?
At the time of writing, prices start at £359 per month for a used Hyundai i10 1.2 Premium automatic on a 24-month contract. That includes an allowance of 800 miles per month and free insurance if you’re over 50. Shorter contracts, more miles and younger drivers cost extra. Prices top out at £690 for a top-spec plug-in hybrid Santa Fe SUV, before extra charges.
Let’s look at the costs in a bit more detail, using the Tucson 1.6 SE Connect as an example. It’s the perfect family car in many ways, with lots of space for people and things and generous standard equipment including air conditioning and Apple CarPlay/Android Auto connectivity.
Prices start at £495 per month for a 24-month contract with 800 miles and insurance for an over-50. Shorter contracts of three, six, 12 or 18 months cost extra – up to £689 for three months. You can choose a higher mileage limit of 1,200 miles, 1,600 miles or 2,000 miles a month; the latter will cost you £45 per month. Insuring a driver aged 30 to 49 costs £22 per month, and 25 to 29-year-olds cost £49 per month. It’s worth noting those extra charges are considerably lower than you’d pay for a higher mileage allowance on a PCP or leasing deal, and less than insurance would generally cost on the open market.
