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This New App Allows You To Rent An EV For $500 Per Month

New App Rents An EV For $500 Per Month

Nowadays, getting an electric vehicle is challenging since the global supply chain crisis has shaken the automobile industry, and it’s not unusual to have to wait months for the EVs to arrive.

But a new venture called Autonomy, based in California is attempting to profit from this. Customers can drive up to 1,000 miles per month for between $490 and $690 after paying a $5,900 “start fee” for the company’s car subscription service. The maintenance and registration costs are also effectively managed by the company.

It is realistic and straightforward for people interested in electric vehicles without paying heavily. Even though the payment system appears to be a lease, Autonomy argues it is not.

“You’re not buying a car, so you’re not borrowing money,” the company’s website reads. “And no loan means you’re not locked into years of interest payments. Subscription is a new way to drive a car without owning it and without its owning you.”

Autonomy subscriptions are touted as a more convenient and cost-effective option to get an EV. Autonomy subscribers can subscribe month to month after a three-month minimum wait period. In contrast to the six- to nine-month wait for a loan or lease, Autonomy automobiles can be delivered or picked up within weeks.

Also, Autonomy has recently announced the addition of the Tesla Model Y Long Range to its EV inventory.

The company, which debuted its EV subscription service with a fleet of Tesla Model 3 Standard and Long Range vehicles at the end of January 2022, says that consumer demand has prompted it to expand the fleet with the Model Y LR, which is now being delivered to it at a rate of 200 per week.

“During the first quarter of the year, Tesla made up 75% of EVs sold, with Model Y and Model 3 making up 68% of the market by themselves, showcasing the demand and popularity for the vehicles. We’re seeing five times the demand we anticipated for our Tesla Model 3 program, and with gas prices soaring, we knew it was time to expand our lineup to include a popular crossover, such as the Model Y,” said Scott Painter, CEO and founder of Autonomy.

Autonomy claims that it offers a low-commitment and less expensive alternative to purchasing a Tesla Model 3 or Model Y without having to wait months and incur long-term debt.

“The subscription value proposition is unbeatable,” said Georg Bauer, president and co-founder of Autonomy.

“When you can beat the legacy options on price, experience, and speed, you will win with consumers. We look forward to partnering with OEMs to expand into new brands and models and giving consumers more choices for flexible and sustainable mobility.”