Which Companies Offer the Best EV Subscription? 5 EV Subscriptions Compared
Reading Time: 4 minutesDon’t want to buy an EV outright? An EV subscription service could be for you.
If you’re thinking about purchasing an electric vehicle, you could consider signing up for an EV subscription service before buying it. An EV subscription service is convenient for testing different EV models to gauge their performance and compatibility with your lifestyle.
However, with so many companies offering EV subscriptions, choosing the best fit for you can be challenging. To help you out, we’ve compiled a list of the best EV subscriptions available.
What Is an EV Subscription?
An EV subscription is similar to a car lease, but you make monthly payments with more flexibility to swap vehicles when you want. Another advantage of EV subscriptions is that they don’t require advance payment. In most cases, the subscription term can range from one month (short-term) to 36 months (long-term).
Additionally, most EV subscriptions include insurance, 24/7 roadside assistance, maintenance, and servicing in the monthly fee.
So, what are the best EV subscription services?
1. Autonomy
If you live in California and are interested in buying the Tesla Model 3, you may consider the Autonomy EV subscription service. If you’re a new customer, you can start with a 3-month minimum commitment—after that, you can switch to a month-to-month subscription.
Autonomy’s monthly payment is between $450 to $1,000. However, you’re required to pay a starting fee of between $1,000 to $5,500, depending on your package, and a refundable security deposit.
Autonomy’s subscription service is exclusively on its iOS app. To get started, you need to upload your driver’s license and sign your contract digitally via its iOS app. You can also cancel or extend your subscription whenever you want, but you can do so with a 28 days notice.
However, the subscription cost doesn’t include vehicle insurance.
Location: California, Texas, Washington, and Florida
Restrictions: 1,000 miles limit per month, driver must be 18+ years old
2. Steer EV
Steer is the ideal EV subscription platform for anyone that wants to try out different electric cars, from luxury to entry-level EVs. This means you can try out different EVs and hybrids from brands such as Tesla, Porsche, Audi, BMW, Jaguar, and Toyota.
However, the number of car swaps allowed per month depends on your subscription plan. For instance, if you subscribe to the basic plan, you can only access two cars per month. Then again, Steer EV offers a premium option if you want to access all the vehicles in its lineup.
In addition to that, the subscription cost is inclusive of repairs, insurance, and EV maintenance.
Location: Toronto, Tampa, Washington, Austin & Vancouver.
Restrictions: No mileage limit, driver must be 26+ years old
3. Borrow
If you have a poor credit score, you should consider Borrow—a Los Angeles-based EV subscription service. However, unlike most EV subscription services, Borrow offers a subscription of between three to nine months.
If you subscribe for nine months, you could pay between $199 to $1,099, depending on your package. At the moment, Borrow has a lineup of 775 EVs in California, including the most popular EV brands in the U.S.
One of the best perks of using Borrow is that the service includes a car wash coupon and a home charger if you’ve subscribed. However, its subscription costs don’t include insurance, and if you cancel your subscription or swap cars before your term is due, you will incur an extra charge.
Location: Los Angeles
Restrictions: 1200 mileage limit per month, driver must be 18+ years old
4. Hertz My Car
Hertz My Car is not an exclusive EV subscription company. However, it offers customers the option to drive a Tesla Model 3, Model Y, or Polestar 2. Better yet, you can subscribe to a package that offers you access to both gasoline and electric vehicles.
Unlike most companies, Hertz My Car covers roadside assistance, insurance, and maintenance when you pay for a subscription. In addition, you can swap your electric vehicle twice a month—but if you want more options, you need to pay an extra $75.
Another thing, if you would like to share the car, Hertz My Car gives you the option of adding one driver. The best part is that the car subscription insurance will also cover the extra driver you list in your subscription.
The only drawback is that you first need to pay an upfront two-month subscription fee—but after that, you can pay the monthly subscription rates. Also, the Hertz my Car subscription is only available to drivers who are 25 years or older.
If you subscribe to an electric vehicle, you’re limited to 2,000 miles per month or 24,000 miles per year. However, according to the Federal Highway Administration, the average American drives 13,476 miles per year—a limit of 24,000 miles is more than enough. Then again, you can still exceed the mileage limit, but it will cost you $0.35 per mile.
Location: Nationwide
Restrictions: 2000 mileage limit per month, drivers must be 25+ years old
5. AAA Car Subscription
With a subscription cost of $11 per day to drive a Volkswagen e-Golf, AAA offers one of the cheapest EV subscriptions in North America. Alternatively, you could pay $449 per month. The subscription cost is inclusive of roadside assistance, insurance, and maintenance.
Another advantage of using a AAA EV subscription is that it offers mobile EV charging stations. In other words, if you’re a AAA member, you can recharge your electric vehicle using special trucks designed with chargers in various cities across the country for free. In addition to that, you can recharge your electric vehicle at any AAA branch office at a discount—this deal is exclusive to members only. However, you could also consider other affordable EV charging networks.
Location: Sacramento and Davis California
Restrictions: 500-1500 mileage limit per month, drivers must be 23+ years old
An EV Subscription Is More Convenient Than Leasing
At the moment, there are not many companies that offer EV subscriptions in almost all locations in North America. However, things could change over the next few years once the sale of electric vehicles outnumbers gasoline vehicles.
Even so, electric vehicle subscriptions offer a better and cheaper alternative than leasing. It also gives you the option to swap to a different electric car whenever you want.
Reference: https://www.makeuseof.com/which-companies-offer-best-ev-subscription/
Ref: makeuseof
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