WINTER PARK, Fla. (WOFL FOX 35) - Subscription is "in" and Volvo is taking the lead with its new nationwide car subscription service. The Swedish car company is now offering customers a monthly subscription service for its new SUV and it's the first company to do so nationwide.
"It's called Care by Volvo, says Chris Shimp, the General Sales Manager at the Winter Park Volvo store. It's really unique. Everything is done online. You don't even have to come into the store. It starts at $600 a month and that's for the XC40 Momentum."
The online application takes about ten minutes from start to finish. Your credit and driving record are a key part of the approval process. Shimp says the option offers an exciting choice for families with teen drivers.
"We have families with a young driver in the household and as long as they're approved, those drivers can drive the vehicle as well and it's still 600-dollars," reveals Shimp.
The 2-year plan runs 600 or 700 dollars per month, depending on the package you choose.
"That includes 15,000 miles per year, adds Shimp. It also includes your insurance, road hazard coverage and all you have to do is put gas in it really."
Volvo just delivered one of their first subscription SUV's to Orlando customer Sanna Haig. Chris reveals the all inclusive price makes more "money sense" for many consumers like Sanna.
"This is kind of nice because it's worry free, says Shimp. You pay one payment and everything is included."
Volvo also gives you the option to upgrade after one year. Once your 24 months are up, you can walk away with zero cost as long as you stay within the mileage. As always, it's best to run the numbers and read the fine print before signing up for any service.
Volvo is the first company to offer car subscriptions across the nation. Other car companies like BMW, Cadillac and Porsche also offer subscriptions, but in very limited markets and with much higher price points.