“Which calls itself Netflix for cars.”

Subscription based car ownership

#Driving

Tue, Dec 4th, 2018 11:00 by capnasty NEWS

CNBC brings to attention Flexdrive, a subscription based service that lets you drive a car without the hassle of owning one. The subscription cost, which varies drastically between vehicles, all the associated expenses of owning a car are included — except for gasoline. The article argues that in some cases financing a vehicle may actually be cheaper.

"This is for people who want to have a car in the driveway all the time, but don't want a long-term car loan," said Jose Puente, founder and CEO of flexdrive.

Financial experts and consumer advocates caution that you'll want to pull out your calculator before you abandon car ownership, which they say remains a better deal in most cases.

"This isn't a magic formula that suddenly makes car ownership cheap," said Jack Gillis, executive director of the Consumer Federation of America. "It may make it easier and simpler, but you're paying a premium for that ease."

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