Ford Canvas

[veeman]

In San Francisco and West Los Angeles Ford is offering monthly lightly used cars (maintenance and insurance covered) for around $400-$500 a month.  I think you can get some Lincolns as well.  Very similar to Book by Cadillac and what Porsche offers but those are $1200 and $2000/$3000 a month.  I think unlimited mileage is $529 a month. 

It's becoming quickly mainstream it looks like.  Los Angeles is a massive market.

[AutobahnSHO]

In San Francisco and West Los Angeles Ford is offering monthly lightly used cars (maintenance and insurance covered) for around $400-$500 a month.  I think you can get some Lincolns as well.  Very similar to Book by Cadillac and what Porsche offers but those are $1200 and $2000/$3000 a month.  I think unlimited mileage is $529 a month. 

It's becoming quickly mainstream it looks like.  Los Angeles is a massive market.

interesting.

[shp4man]

Who pays for insurance, maintenance and repairs?

[2o6]

Who pays for insurance, maintenance and repairs?

Ford, I think.

[veeman]

Ford pays for everything that falls under normal wear and tear.  If something like a nail gets in your tire, you pay for the new tire or patch.  If the tire is just normally worn, you get free replacement.  You are, I think, leasing a new Ford or even Lincoln every month if you want but maintenance and insurance is covered. 

https://techcrunch.com/2017/11/01/fords-canvas-monthly-car-subscription-car-service-expands-to-la/

https://drivecanvas.com/

[veeman]

When I think of my 4 cylinder Camry lease, $429 a month ($519 a month with unlimited mileage) is a lot more than my current $181 a month.  I also get included maintenance for two years and I paid a few hundred to get all 3 years included maintenance.  But I put a few thousand dollars down in the beginning of the lease and insurance costs me $920 a year.  I'm also limited to 12,000 miles a year which means I don't take the Camry on any long distance interstate trips.

Overall the Ford Canvas over 3 years costs around 25% more than my Camry lease over the course of 3 years.  519 x 36 = 18,684 vs
(181 x 36) + estimated $5000 down + ($920 x 3 years insurance) = 14,276.

 

[mzziaz]

So 25% more expensive, but you get to trade between different type of vehicles. I would be tempted to go the latter route.

[veeman]

I would too especially if you can regularly get Mustangs as shown on the Ford Canvas website.  If the place to trade the cars was close to my house and the process of trading the car for a different one was a 30 minute or less deal, I'd consider it.  All depends on the number and variety of different cars in their inventory.  Drive a Mustang for a month, switch into a Ford Explorer when you know you're taking the family to a National Park in a week, and then the month after that get a hybrid Fusion.

[AutobahnSHO]

The other reason it's more is people pay for convenience.

"I don't have to pay the car note AND send money to the insurance co? Sweet!"

[12,000 RPM]

Very interesting, though I think people who buy mainstreamers don't really care about switching between cars. For me, this would be interesting if I could cycle through Ford's performance models. Fusion Sport, FiST/FoST/FoRS, Mustang GT, maybe the Edge Sport Only car of those I would actually want to own is the FoST but I would pay to drive them all for a couple of months.

I still think there is a good business model for a used performance car subscription model that's not as eye wateringly expensive as Manhattan Car Club. It would have to span multiple brands though.

[veeman]

I agree but the ability to switch between a fuel efficient easy to maneuver and park small or mid size car and a Ford Explorer for long family vacation trips is what's great.

[CaminoRacer]

But it's probably cheaper to just rent a car every once in a while.

[12,000 RPM]

Cost wise, yea, unless you have a new car. Convenience wise, it depends what you can get delivered. If I did a lot of family trips and this service delivered while rentals didn't that would be enough to tip me over. Going to the rental counter is a PITA

[veeman]

I doubt at this price point you would get the car delivered to you.  You would probably have to go to a service center where someone would look over the car to assess for any damage beyond normal wear and tear, and then get your "new" car to drive this month.  So basically like a rental counter.