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Clutch Looks To Increase the Number of OEMs, Dealers on Its Subscription Platform by Year’s End

Clutch is aiming to increase the number of OEMs and dealers using its subscription platform by the end of the year, according to Mark O’Neil, chief operating officer at Cox Automotive, which purchased the technology company in August. To date, Clutch has signed on BMW, Mercedes-Benz, and Porsche. O’Neil said the company is in discussions […]

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 […]

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 […]

PrazoNow in Talks With ‘Several’ OEMs for Subscription Service, CEO Says

PrazoNow, a new Los Angeles-based car subscription service, is in discussion with several OEMs to gain access to inventory before the vehicles hit a dealership, Auto Finance News has learned. Founded in 2015, PrazoNow initially operated as a company that let customers lease a Ford C-Max hybrid for two years without going to a dealership. But the […]

5 Subscription Services Ushering New Ownership Models

Traditionally, there have been two ways of owning a vehicle: buying one or leasing one. But now you can subscribe to one. Riding on the subscription craze that has engulfed e-commerce for some time (think beauty and lifestyle subscriptions boxes, razor blade subscriptions, and entertainment streaming services), the automotive world is starting to catch up. […]