Auto subscriptions, a sort of low-commitment way to get behind the wheel of new or late-model cars, are being touted as a no-hassle alternative for people who just aren’t into long-term relationships.
Azarias Reda, CEO of Carma Car, says the program is ideal for drivers who don’t want to commit to leases, which are typically for 36 months or more but want continual access to late-model cars.
Patel calls the subscription a “hybrid model” that spans the gap between daily rentals and long-term leases. “It’s not by the hour, not by the day,” she said. “It’s for someone looking to have a car for two or three months.”
Reda said auto subscriptions are available in two tiers: high-end programs such as the Book by Cadillac and Porsche Passport, which are attractive to people with high disposable income who want to sample a variety of models. Typically, these programs require a one- to two-year commitment.
Alternatively, Carma and other third-party providers, such as AmeriDrive put the emphasis on flexibility and lower cost by offering programs as short as one month and cars that aren’t brand new.
Attitudes toward car ownership model are rapidly changing, Reda said. Technology quickly falls out of date. Warranties expire. Insurance can be a hassle. Depreciation takes its toll.
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