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From Profitability to Viability, Execs Weigh In on Subscription Services [VIDEO]

OEMs are still trying to crack the code of profitability and consumer interest in subscription services. Leading providers in the space weighed in on this relatively new method of car utilization, in a session at the 18th Annual Auto Finance Summit. Mason McLead, vice president of engineering at car-as-a-service company Fair, defined a subscription as […]

3 Execs To Discuss the Future of Subscription Models at Auto Finance Summit

Automotive financial companies are racing to introduce new subscription models that promise to offer an alternative to traditional loans and leasing. However, there is little consensus about how these programs should run to be viable long into the future. Three panelists from Hyundai Capital America, Borrow, and Fair will discuss these challenges and the future […]

18 Subscription Programs That Are Changing Auto Finance

Subscription programs that allow for more flexible vehicle ownership could wind up being a bust, but if investments from just about every major OEM on the market, a handful of startups, and numerous dealerships are any indication, this is a fad that will be around for some time to come.    What “flexible ownership” means […]

Car Subscription Service Borrow to Debut New User Platform in 2Q

SAN FRANCISCO — Los Angeles-based car subscription service Borrow is building out a new platform to enhance the user experience by the end of the second quarter, Founder Jon Guzik told attendees at Auto Finance Innovation 2018 yesterday. Since pivoting its business model to shorter three- to nine-month lease terms and changing its name, the company started […]

PrazoNow Rebrands as Borrow

PrazoNow, a Los Angeles-based car subscription service, has rebranded as Borrow. Founded in 2015, the company started out as Prazo and allowed customers to lease a Ford C-Max hybrid for two years without going to a dealership. However, the startup soon learned that two years was still considered “too long,” and customers also wanted more […]