Auto manufacturers have again been trying to make their way into the retail auto business, this time by offering subscriptions to cars, for those who don’t want to commit to a purchase or a lease. But Alex Perdikis of Koons of Silver Spring has started his own subscription service through the automotive startup he cofounded, known as inride. Indeed, inride is a way for dealers to benefit from their knowledge of the local market.
Inride members use an app to find a vehicle they are interested in driving. They pay $895 or $1,395 a month, depending on the level of vehicle they want. (Those are discounted introductory offers: Normal pricing is $995 and $1,495.) The inride concierge team delivers hand-detailed vehicles to members on request. Every inride subscription includes rights to a vehicle, insurance and maintenance, with no long-term commitment. Inride says it distinguishes its program from OEM services by offering multiple makes and models for members to choose from.
“If you want to drive an Audi A6 during the work week, and then flip into a Jeep Wrangler for a beach weekend, that happens with a couple swipes of the app,” says Perdikis.
“Most of our attraction has been higher-end cars,” Perdikis said. About half so far are coming off lease and are looking at alternatives before buying or leasing their next vehicle.
The vehicles come from the dealership’s new car inventory or “slightly pre-owned” vehicles acquired for inride.
“It’s a way for dealers to take advantage of a new opportunity in the marketplace,” said Perdikis. “We’re seeing customers we wouldn’t see otherwise,” as some customers, for example, subscribe to a Tesla Model S, or Porsche Panamera.
For a certain type of customer, it’s a great deal, said Perdikis: “No loan, no credit check, no cash down payment. It’s month-to-month and zero commitment.”Download Bulletin PDF