Subscription-Based Car Buying Picks Up Steam
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Buying a car keeps going the way of Netflix, as more automakers and dealers adopt subscription-based purchase models that give buyers access to multiple models for a fixed monthly rate.
Cadillac, which launched its Book By Cadillac program in New York in January, announced Monday it’s expanding the service to Los Angeles and Dallas. Monthly memberships run for $1,800 plus a $500 sign-up fee, and cover registration, taxes, insurance and maintenance. Volvo and Porsche this fall launched their own subscription services.
The trend is even heading down-market to cheaper vehicles. One program called Flexdrive allows dealers to make new and used cars available for subscription terms as short as seven days. A single fee includes insurance, maintenance and roadside assistance. The service, available in Atlanta, Austin and Philadelphia, is a joint venture by Autotrader-owner Cox Automotive and automotive services company Holman Enterprises.
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