These Startups Are Looking to Reshape Auto Retail
Car subscriptions are just one of the recent new ways automakers are looking to transform the car industry. Luxury automakers like BMW, Mercedes Benz, and Porsche are among those who are leading the way with car subscriptions of their own. There are also many startup companies looking to revolutionize the way we get new cars. We have gathered a list of some of the main third-part car subscriptions. Keep in mind that what’s available is based on your location.
Borrow
Borrow is an electric vehicle subscription service that’s based in Los Angeles. With this service, you can ‘borrow’ an EV for three, six, or nine months at a pretty competitive price. There are four available plans, and membership pricing, of course, depends on which one you pick. The cheapest fleet plan is the Campus – Smart Fortwo, which features the Fiat 500e. You can go for the three-month option which costs $299 per month. Borrow’s Platinum plan features the Tesla Model S and the three-month option with this plan costs $1499 a month. No matter what plan you choose, maintenance is included in the monthly pricing.
Clutch Technologies
With Clutch Technologies, you’ll get a true subscription service that allows you to flip through a variety of vehicles. This company has a portfolio of localized car subscriptions and is even affiliated with Access by BMW, the Mercedes Benz Collection, and Porsche Passport. The Clutch Technologies platform also includes North Carolina based company Drive Flow and Steer, which is another EV subscription that grants you access to Teslas and even hybrids like the BMW X5 hybrid and Toyota Rav4 hybrid.
Fair
Fair is an app that allows you to subscribe to a car completely from your phone. This company partners with regional car dealers to give you an adjustable driving plan based on how long you need a car. Fair also absorbed the Canvas car subscription platform that was previously owned by Ford. Up until recently, Fair had a partnership with Uber that gave people the opportunity to participate as a driver in the Uber rideshare program without having to own a car themselves. The companies decided to end their partnership over insurance premiums, so if a rideshare program like this appeals to you, you might want to consider Flexdrive.
Flexdrive
Flexdrive is the car subscription service that also allows you to generate income with the rideshare company Lyft. With this platform, you choose a vehicle from Flexdrive’s express drive program and can start riding soon after. You can subscribe to use a Flexdrive vehicle for a week, or extend it for longer without worrying about a big commitment. You can also reserve cars in advance, otherwise, it is first-come, first-served.
FreshCar
FreshCar gives you month-to-month car flexibility and a variety of car options. Simply pick your car for the month, swap it for another the next, or cancel completely if your needs change. Your monthly subscription fee includes maintenance and insurance, but not unlimited mileage. The entry-level price starts at $499 per month for 500 miles.
