Over Owning? Cadillac Tries a New Idea

It's launching a monthly subscription service
By Elizabeth Armstrong Moore,  Newser Staff
Posted Jan 14, 2017 11:37 AM CST
Over Owning? 'Subscribe' to Cadillac for $1.5K a Month
This photo provided by General Motors shows the 2016 Cadillac Escalade.   (Richard Prince/Courtesy of General Motors via AP)

It's kind of like Netflix, but with Cadillacs instead of movies. The car company is experimenting with a modern twist on car ownership: Don't own at all and instead try out a new vehicle every month or close to it. In a press release, the company says it launching a "subscription" month-to-month car service it's calling BOOK. Those who participate can drive a new model for up to 60 days before turning it in, and they can max out at 18 different cars a year. It's not cheap, however, at $1,500 a month. “BOOK is aimed squarely at Gen X and Y customers who want the experience of a luxury vehicle without the hassles of traditional ownership,” a company executive tells Vocativ.

BOOK debuts Feb. 1 in the New York City metro area, where car ownership rates are falling and people might want to take different members of a fleet out and about at their leisure without having to worry about selling it down the road, reports Quartz. Leasing a Cadillac costs much less—figure between $300 and $750—but with no mileage limits, and no handling of registration, taxes, maintenance, or insurance (though there is a $750 deductible in the event of an accident), the company is hoping the service paves the way for car subscriptions and finds success in other US markets, like Los Angeles. (Cadillac is also considering virtual showrooms.)

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