Ford Credit Grows Canvas Subscription Service, Adds ‘Customizable’ Features
Ford Motor Credit Co.‘s subsidiary Canvas — a monthly subscription service — now has 600 customers on its platform less than one year since launching, with plans to further expand the service’s features, the companies announced in a press release.
“As our product evolves over the coming year and beyond, we’ll be focused on adding more customization to the platform, implementing solutions to improve the scalability of the business, and offering bigger savings for customers who want longer terms,” Founder and Chief Executive Ned Ryan said in the release.
Through Canvas, users can pay a bundled monthly subscription fee that covers insurance, maintenance, roadside assistance, and warranty. Average rates start at $400 a month, but the type of vehicle and the preferred mileage package can impact the price. For example, customers can choose from a starting package of 500 miles a month for no extra cost, and go up to 850 miles per month for $30 more, 1,250 miles per month for $60 more, and unlimited mileage for $90.
Canvas added “customizable” features to the initial platform since launching. In addition to preferred mileage packages, the service also now lets customers have multiple drivers on one account, based on feedback Canvas received from users.
“We launched as Canvas in May 2017, so our biggest challenge was simply seeing how customers responded to and used the product, and using that feedback to help refine it and add features that would better their experience,” a company spokesperson told Auto Finance News. “For example, we found that features like adding a second driver are hugely popular with our customers.”
San Francisco-based Canvas has more than 35 employees — and growing, according to the release. Canvas is available in West Los Angeles and the San Francisco Bay Area.
