It’s tough out there for
eco-friendly carshoppers. Between chip shortages, high gas prices, and inflation, the odds may not be in your favor. But what if there was an affordable, hassle-free solution?
EV car subscription offers a low commitment
If you’re curious about electric cars but aren’t ready to commit long-term, subscribing can be an excellent alternative.
Brain Moody from Kelly Blue Book says EV car subscriptions are great for consumers who are looking for the latest technology and enjoy switching cars frequently. Just made sure the starter fee pencils out if you don’t plan on keeping the car for more than a couple of months.
Tesla Model 3is available to rent from Hertz and Turo, it’s probably still cheaper to go with an EV car subscription.
That’s right, you don’t have to buy or lease a Tesla, you can subscribe to it. A Southern California startup makes subscribing to an electric car as easy as Netflix.
Autonomy is based in Santa Monica, and offers month-to-month payments, with a three-month minimum. While the name may remind you of Tesla’s autonomous driving, the company actually wants to give drivers autonomy over their EV decisions.
According to Autonomy CEO Scott Painter, the vehicle is yours during your EV car subscription. Subscribers can keep the car as long as they want, and don’t have to share it with anybody. You also have the freedom to quit at any time.
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How EV car subscriptions work
Signing up for an EV car subscription is simple. Autonomy offers the Tesla Model 3 for only $490 a month, much less than the average new car payment. However, you’ll also be required to put down a $4,900 starter fee. If you choose a higher monthly payment, the starter fee will decrease.
Since it’s cheaper than buying or leasing a car, many shoppers feel good about putting the
charges on a credit card. In fact, Painter would be shocked if consumers found a faster, easier, and cheaper way to snag a Model 3 during these times.
The Tesla Model 3 is Autonomy’s only offering, but it has big plans to add the Model Y and other EV models from various automakers to the fleet. The company has ordered 22,790 units of 46 EVs from 17 manufacturers.
Valuing over $1.2 billion, the delivery is set to be completed by the end of 2023. The order includes Tesla (8,300 vehicles), General Motors (3,400), Volkswagen (2,200), Ford (1,800), Hyundai (1,640), Kia (1,500) and Rivian (1,000).
Autonomy also ordered a couple of hundred models from small startups like Vinfast, Fisker, and Canoo before, even though they have yet to produce any cars.
Autonomy’s massive purchase doesn’t take these vehicles out of the EV market entirely. The cars can still be accessed via the app and are likely to be the best deal around.
Car insurance: Whether you buy, lease or subscribe
No matter what your EV decision is, feel good about your choice by getting equipped with awesome car insurance. Excellent coverage doesn’t have to break the bank. Did you know most Americans overpay for their monthly policy?
If you want cheap car insurance quotes fast, download the
Jerryapp. A licensed broker that offers end-to-end support, the Jerry app gathers affordable quotes, helps you switch plans, and will even help you cancel your old policy. The average driver saves $800+ a year with Jerry.