The future of car ownership: Cars-as-a-service

 In Automotive, Bank, Banking, boston, car buying, car insurance, car ownership, car sales, ceo, Co-founder, Dallas, driver, Ford, Funding, Fundings & Exits, Los Angeles, Lyft, online shopping, Optio, Porsche, scott painter, silicon valley bank, smartphone, Softbank, Startups, subscription services, TechCrunch - Funding & Exits, Technology News, truecar, Uber, upfront ventures, Venture Capital, volvo

Car shoppers now have several new options to avoid long-term debt and commitments. Automakers and startups alike are increasingly offering services that give buyers new opportunities and greater flexibility around owning and using vehicles.

Cars-as-a-Service

In the first part of this feature, we explored the different startups attempting to change car buying. But not everyone wants to buy a car. After all, a vehicle traditionally loses its value at a dramatic rate.

Some startups are attempting to reinvent car ownership rather than car buying.

Don’t buy, lease

My favorite car blog Jalopnik said it best: “Cars Sales Could Be Heading Straight Into the Toilet.” Citing a Bloomberg report, the site explains automakers may have had the worst first half for new-vehicle retail sales since 2013. Car sales are tanking, but people still need cars.

Companies like Fair are offering new types of leases combining a traditional auto financing option with modern conveniences. Even car makers are looking at different ways to move vehicles from dealer lots.

Fair was founded in 2016 by an all-star team made up of automotive, retail and banking executives including Scott Painter, former founder and CEO of TrueCar.

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    Really informative post.Really thank you! Keep writing.

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