Consider it Netflix for cars. There’s a new model for getting behind the wheel one aimed at attracting a consumer that’s less likely to buy a vehicle and is used to customized, on-demand services. Car subscription services are billed as a more convenient, flexible and future-proof way to accessing a vehicle than traditional leasing or financing. The model has been popping up across the U.S. and Europe, and is now making its way to Canada.
A single monthly payment usually covers the cost of the vehicle, insurance, maintenance, repairs, and roadside assistance. Most services charge a one-time initiation fee, usually ranging from $100 to $500.