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OODLE Journal
Get under the bonnet of the Oodle Journal; read about the dream journeys we’ve made possible and the technologies shaping our industry.
Car Finance: 2050
Would Blade Runner’s Rick Deckard be able to purchase his flying car on finance in the year 2050? In a nutshell, yes.

By the year 2050, someone will have married a robot, some rich people might effectively be immortal — and a team of androids will have beaten a team of humans at football.
It might sound like science fiction, but these are all predictions from credible scientists. But what about the way we drive?

Self-driving cars will no longer be a new, untried technology. By 2050, it may actually be illegal for human beings to drive, according to tech visionary Elon Musk.
Self-driving cars will be so safe, by comparison to humans, that manually driven cars could be banned in some places, Musk believes.

The next few decades are set to see a technological change in motoring unlike anything since the dawn of petrol cars in the 19th century.

By 2050, humans won’t even need to look at the sat-nav. Smart city’ technology will mean that cars ‘know’ where there are parking places, and head there automatically, without human intervention. ‘Internet of things’ sensors built into lampposts and bus shelters will wirelessly warn cars of traffic jams and road works.
David Shepherd, Regional Managing Director of Audatex UKSA says, ‘Vehicles will be able to communicate with each other, as well as with traffic lights, finding the nearest charging point and fuel station.
‘A driverless vehicle could drop you off and collect you from work, or the train station, with no human input,’ Shepherd says. ‘While you’re at work, the car will be loaned out to those who require vehicles on-demand.’


With cars capable of ‘appearing’ when needed, it’s likely that fewer people will own cars in the way we understand it today.
Alistair Stead, Chief Technology Officer (CTO) at Oodle Finance, says, ‘I think there is going to be a new age of the car industry. We’re going to see a shift in the way people think about cars. People will share autonomous cars, or just use a car for ferrying the kids around, rather than spending time driving.’
Today’s world of car finance, with Personal Car Plan loans seeing people ‘pay to drive’ rather than ‘pay to own’, may just be a taster of the flexible future, Stead believes.

‘I’d predict a major shift in government focus, subsidising charging points into every lamppost so that they can meet environmental targets and drive the percentage of cars that are electric, at least in cities, to 100%. Hybrids will be here until there are more high-speed charging points.’
-CAMBELL


Other cars will be powered by hydrogen fuel cells — a technology pioneered by NASA for use in satellites, and powered by a reaction between hydrogen and oxygen in a fuel stack. The only ‘pollution’ will be a plume of water vapour.
Oodle’s Alistair Stead says such rapid shifts in technology will also have an impact on the way people buy cars.
Stead says, ‘Driverless cars and emphasis on renewable energy will change the way car finance works. It could mean a lot more prudent, more dynamic interactions with car finance companies. You have more leases or maybe go and buy part of the car or a number of hours with the car. It is incredibly exciting for us, because Oodle is perfectly positioned to be involved in that future conversation.

Today’s advances in car finance have been made possible by ‘big data’ — and the amount available is only going to increase.



There really will be no limit to what you can do in the future.


ALISTAIR STEAD, CHIEF TECHNOLOGY OFFICER, OODLE FINANCE

Words By Rob Waugh.

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