Your Next Car Might Be A Subscription
As car companies see people willing to ditch their vehicles, they’re responding by offering more flexible options. Instead of owning one car, what if you got whatever car you want, just when you needed it?
BY JACLYN TROP
Four-figure down payments, cumbersome lease lengths, and skyrocketing insurance costs: it’s enough to send a would-be car shopper running for an Uber or Lyft.
That’s why more automakers are rolling out flat-fee programs that aim to make leasing a car as simple as buying a smartphone. In a bid to keep potential customers from defecting to ride-hailing services and foregoing personal car ownership, brands like Volvo, Cadillac, and Porsche are upending the traditional retail model by developing app-based monthly subscription services that provide vehicles on demand.
When Volvo’s new XC40 SUV arrives at dealerships this spring, subscribers to the brand’s new Care by Volvo program will pay a minimum of $600 a month– depending on the trim level–for a package that includes maintenance…
