The future of car ownership: Cars-as-a-service

Car shoppers now have several new options to avoid long-term debt and commitments. Automakers and startups alike are increasingly offering services that give buyers new opportunities and greater flexibility around owning and using vehicles.

Cars-as-a-Service

In the first part of this feature, we explored the different startups attempting to change car buying. But not everyone wants to buy a car. After all, a vehicle traditionally loses its value at a dramatic rate.

Some startups are attempting to reinvent car ownership rather than car buying.

Don’t buy, lease

My favorite car blog Jalopnik said it best: “Cars Sales Could Be Heading Straight Into the Toilet.” Citing a Bloomberg report, the site explains automakers may have had the worst first half for new-vehicle retail sales since 2013. Car sales are tanking, but people still need cars.

Companies like Fair are offering new types of leases combining a traditional auto financing option with modern conveniences. Even car makers are looking at different ways to move vehicles from dealer lots.

Fair was founded in 2016 by an all-star team made up of automotive, retail and banking executives including Scott Painter, former founder and CEO of TrueCar.

Articles You May Like

SAP CEO Bill McDermott will join us at TC Sessions: Enterprise
Hero Labs raises £2.5M for its ultrasonic device to monitor a property’s water use and prevent leaks
UK DeepTech VC IQ Capital launches new $125M growth fund, closes third VC fund at $175M
Top 5 best Comic Con celebrity disguises
Kibus is like a Keurig for your pet

Leave a Reply

Your email address will not be published. Required fields are marked *