Manufacturers such as Ford, Volvo, Porsche, and Cadillac have been promoting a new service that scraps the need for financing cars by introducing a more workable method. Thanks to new reports, it looks like BMW and Lexus will also be joining the move.
What these car subscriptions do is essentially enable people to replace traditional car ownership by renting cars on flexible term lengths with the ability to swap cars, with no deposit require and often including insurance cover as well.
Car brands are adopting this scheme in order to cater to more customers and help get rid off the “complications” that can be involved when it comes to buying and owning a car.
Subscription services at the moment can exist between short-term to multiple years. Customers can also enjoy driving the latest cars as soon as they are out.
Word on the market is that Lexus will be showing off their compact UX sports utility vehicle on their subscription scheme. BMW is planning to launch a pilot subscription service named Access next week in the US state of Tennessee – we don’t know which cars they will be offering though.
Would you join the service just to lease a fresh car every once in a while?
Via: | TechCrunch |
Image: | CarAdvice |