ONTO Subscription Alternatives

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With the recent announcement of ONTO entering administration, we have already been contacted by a number of customers asking for advice and recommending alternatives. We’re going to use this article to help you find alternative providers and to answer a few questions.

ONTO Enters Administration

As it has been widely reported in the media, ONTO has entered administration blaming a sharp decline in Electric Vehicle residual values. With more than 7,000 vehicles on fleet at the start of 2023 the secured finance soon became an issue especially as backers decided not to inject any further cash. Gavin Maher and Jonathan Lees of Teno Financial Advisory was appointed as joint administrators of ONTO Holdings Ltd on Monday 11th September 2023.

With administrators appointed, those with ONTO car subscriptions it is business as normal and payments must be made according to the signed contract. The job of the administrators is to look at all viable options to continue the business.

We have been advised that some customers who have placed orders with ONTO have had calls to say that the cars will not be delivered and to look at other providers, but we have also heard from customers to say that their cars arrived this week as promised.

Yes, if you are an existing arrangement, you must keep up with the payments as per your contract unless they have contacted you to discuss the return of the vehicle.

To discuss your current car subscription with ONTO, it has been advised that you email: [email protected]

The main reasons that ONTO has entered administration is that the cars were taken on secured finance agreements. This would have been calculated based on future values of the vehicles, with the recent decline in electric vehicle residual values, this effectively means that the cars are in negative equity.

When you run 7,000 vehicles this can quickly add up, especially if your fleet is made up of purely electric cars.

Alternatives to ONTO

If you are in the market for pure electric vehicles then the direct competitors to ONTO would be:

All Fuel Type Vehicle Subscription Alternatives

If you don’t need an electric vehicles, there are other companies that offer petrol, diesel and hybrid makes and models, these include:

Car Subscription Deals

Don’t forget that we also list car subscription deals from a handful of vehicle subscription providers to help you find the best deal on your next contract, see below our latest offers below:

Volvo
XC90 Estate
Plus
£TBC p/m
Mercedes-Benz
GLE Estate
GLE 450 4Matic AMG Line Premium Plus 5dr Auto
£1674.00 p/m
VW
Golf
2.0 TSI 300 GTI Clubsport
£1200 p/m
Volvo
XC90 Estate
Ultra
£TBC p/m
Volvo
XC60 Estate
Ultra
£TBC p/m
Volvo
XC90 Estate
Ultra
£TBC p/m
Volvo
XC40 Estate
Ultra
£TBC p/m
Volvo
XC60 Estate
Plus
£TBC p/m
BMW
3 Series Touring
330e M Sport (Tech/Pro Pack) 5dr Auto
£1194.00 p/m

Help and Support

Whilst we cannot help with any ONTO enquiries, we will assist customers where possible. Please drop us a line on the form at the bottom of this article.

Patty Atindehou

Patty is the content writer for Car-Subscriptions.co.uk and loves her cars and the automotive industry in general. She worked for large dealer groups in the United Kingdom and the USA specialising in high-end and premium vehicles. Her goal is to provide the most interesting information on the vehicle subscription industry.

Article Details

Post Published: September 13, 2023
Post Last Updated: November 15, 2023
Article Categories: ,
Read Time: 18 minute(s)