The growing market of vehicle subscription services has a new entrant, and it’s one that has already lined up a key partner in the auto finance and wholesale space in Ally Financial.
Mobiliti, a new subscription service based in Detroit, said it will work with dealers to provide a vehicle subscription option to consumers, and it plans to launch this service next month in Austin, Texas.
Plans, which start at $549 a month, include amenities like insurance, maintenance, warranty coverage and roadside assistance, and let consumers swap out of the car once a month. There is no down payment, initiation fee or long-term commitment, the company said.
Mobiliti expects to scale across “major U.S. markets” throughout the year.
As far as its work with Ally Financial, the two companies said last week they are “exploring options for a suite of offerings focused on Mobiliti and its participating dealers’ needs.”
For example, Ally financing the fleets of dealers using Mobiliti. Or the dealers being able to remarket the returned vehicles through Ally’s SmartAuction platform.
The companies are also “exploring opportunities” for Mobiliti to be able to offer consumer-financing via Ally’s Clearlane platform, should the subscriber wish to buy or lease the car when the subscription ends.
Clearlane, which was launched a year ago, connects consumers online to vehicle finance providers.
“Our goal is to create a model that gives consumers the flexibility they want and provides dealers with a subscription model that captures the value they offer consumers in service and delivery,” Mobiliti co-founder and chief executive Chance Richie said in a news release.
“Our relationship with Ally, a national leader in auto finance, provides the flexibility we need to best serve consumers and dealers as we roll out this unique business,” Richie said.
Tim Russi, Ally’s president of auto finance, said: “Mobiliti offers consumers flexibility and choice in vehicles, while also helping dealers maximize their inventory and reach customers who want a different car driving experience.
“We’re excited to work with Mobiliti to help lead the way as car ownership evolves to meet changing demands in the market.”