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Subscription service Mobiliti preps for global expansion

Startup Mobiliti has set in motion plans to establish itself as a global player in the subscription space via a newly inked partnership with Australian marketplace Carsales.com.  With an inventory of more than 200,000 new and used vehicles, Richmond, Australia-based Carsales.com is an online marketplace for consumers to buy and sell cars. The site attracts […]

Fair to Add Inventory With $50M Debt Facility Backed by Silicon Valley Bank

Used-car leasing app Fair closed a $50 million debt facility financed by Silicon Valley Bank. The funds will be used to purchase more vehicles for Fair’s fleet, the company announced Jan. 24. The new debt facility is a move for the bank to support “companies offering disruptive solutions in industries undergoing transformative change," Zhengyuan Lu, […]

USAA Bank Tees Up Subscription Services at Auto Experience Lab

USAA Bank’s Auto Experience Lab is working to enter the subscription service market, but even after seven years of development, rollout for that service is still “under the queue of projects to complete,” James Spears, assistant vice president at USAA Auto Experience, told Auto Finance News. Much of the work in the lab is dedicated […]

DriveItAway Acquires Whip Assets, Cuts Ties With HyreCar

DriveItAway, which provide dealers with the tools they need to offer subscription car services for Lyft and Uber drivers, today acquired the technology and assets of Whip. Whip offers subscription-service infrastructure management to car dealerships and fleet owners. Terms of the deal were not disclosed. DriveItAway also said that it is cutting ties with HyreCar, […]

Clutch Expands Porsche Subscription Program to Include Hourly, Weekly Rentals                                   

Following its acquisition of fleet-management company Clutch Technologies, Cox Automotive is broadening its program with Porsche to include hourly and weekly rental rates. The expansion provides insights into the philosophy of Cox’s Mobility Solutions unit as OEMs and dealerships embrace subscription programs, President Vince Zappa told Auto Finance News. “When you start to think of […]

Mobiliti to Add 4 States to Footprint by Yearend, CEO Says

By yearend, vehicle subscription startup Mobiliti plans to double the number of markets it serves, adding four East and West Coast states to its footprint, Chief Executive Chance Richie told Auto Finance News. So far, the company services cities in Michigan, New Jersey, Pennsylvania, and Texas. “The West Coast is a big area of growth […]

Luxury Car Subscription Plans Expansion to Texas, California

Florida-based luxury car subscription service Revolve is planning an expansion to Texas and California in 2019 as well as the introduction of “a few more” lower-priced tiers, Chief Executive Asoka Veeravagu told Auto Finance News. Revolve curates a list of vehicles for which its luxury-car-enthusiast consumer base can subscribe. “South Florida is one of the […]