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What’s a subscription service? [Video]

Netflix, Spotify, and Amazon have the U.S. moving toward a subscription-based economy, and auto financiers are figuring out where they fit in. What does a car subscription service look like? Auto Finance Excellence answers that question in its explainer video, the first in a new animated video series. Click here to check it out. 

General Motors Scales Back Car-Sharing Service Maven

General Motors Co. reportedly is scaling back its car-sharing service, Maven, by stopping the service in eight markets after launching more than three years ago. A GM spokeswoman confirmed the OEM plans to shut down the service in major markets like Chicago and Boston "within the next few months," the Wall Street Journal reported. However, Maven will […]

Leasing’s New Look: Financiers Give Lease Options a Makeover

From the February issue: With new-car purchases lagging and used-values increasing, captives and OEMs are reimagining lease products to keep their customer bases growing. Roughly a decade ago, 1.4 million new vehicles were leased — a 16% penetration rate. Fast forward to 2019, and lease volume is expected to reach 4.1 million, with penetration as […]

General Motors to Shut Down Cadillac Subscription Service by Yearend

General Motors Co. is reportedly hitting the pause button on its vehicle-subscription service, Book by Cadillac after launching nearly two years ago in Los Angeles, Dallas, and New York. A GM spokesman confirmed the OEM plans to shut down the service by yearend, the Wall Street Journal reported. However, there is still a chance that […]

Subscription Service Revolve Carves Out Niche in Luxury Space

Asoka Veeravagu, chief executive of the Florida- based luxury car subscription platform Revolve, envisions a future with many competitors in the car subscription space, not just one solution that dominates the market, he told Auto Finance News. “When you look at the size of the industry — in the U.S. new and used annual [financing] […]

Volvo Subscription Service Limits Vehicle Choice, Lengthens Term to Keep Prices Down

Volvo Financial Services’ subscription model Care By Volvo undercuts other luxury OEM programs on the market with a subscription that’s less flexible but more affordable to a younger audience, said Peter Wexler, Volvo Cars USA’s director of mobility. Where similar programs such as Book By Cadillac and Porsche Passport start at $1,800 and $2,000 a […]
  • William Hoffman
  • February 2, 2018

Volvo Offers New 24-Month Subscription Service

To coincide with Volvo Car’s new Volvo XC40, the luxury automaker is also launching its Care by Volvo subscription service. Care by Volvo is a national subscription service with a ready-negotiated monthly fee that allows someone to get a new car every 24 months. While it is unclear what connection Volvo Financial Services will have with […]
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