The car subscription
(CBS 12) —
Swedish automaker Volvo recently released details about a new subscription-based ownership program called "Care by Volvo."
Starting at 600-dollars a month, it includes insurance, vehicle service, roadside assistance, 24/7 customer care, and replacements needed for wear-and-tear items such as brake pads and wiper blades.
"The idea of these programs is to take away much of the hassle and mystery involved with buying or leasing a car. With "subscription models… you pay ONE MONTHLY fee for most costs involved in owning a car. Plus you could drive a new vehicle every year, or even every week with some other programs," said Nick Kurczewski of Consumer Reports, Autos Expert.
And Volvo isn't the only automaker offering consumers this type of deal.
BMW, Hyundai, Cadillac, and Porsche all have similar subscription-based programs, with varying degrees of how often you can exchange a car for a new one.
And for those who balk at Volvo's substantial all-inclusive price, it's worth noting that the base price for the included vehicles starts at 33,200-dollars.
"Although the programs that are currently in effect are on the pricier side, there are no long-term commitments, and we anticipate the monthly fees going down as this trend becomes more popular," said Kurczewski.
But of course, a subscription-based ownership experience won't be for everyone. That's especially true if you like the idea of paying off you car, and not having monthly car payment.