Autonomy’s Tesla subscription service could lower the cost of owning an electric vehicle

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A California company called Autonomy has started offering Tesla Model 3s by subscription to its customers in an effort to lower the cost of owning an electric vehicle. Autonomy plans to make its inventory available in Sacramento in the coming weeks. “We think one of the biggest barriers to electric driving will be cost,” said Autonomy Founder and CEO Scott Painter. the most is to reduce this cost, to make it easy, to make it fast. Autonomy does this by offering monthly subscriptions for its cars rather than having buyers sign a long-term lease or other financing plan. To register, customers download the app, enter their driver’s license and credit card information, and then schedule their car pick-up. Subscribing is simple and can save money, but it’s by no means cheap. start-up fee” as they call it, is $4,900 and monthly payments are set at $490 for a minimum of three months. After that, the driver can return the car whenever he wants. But this $4,900 fee is non-refundable. Similar to a lease, routine maintenance is covered by the Autonomy subscription. Registration is also covered. But drivers are also limited to 1,000 miles per month. Anything over that will cost 25 cents per mile. Car insurance is not included. There are also fees to consider. Painter said most current Autonomy subscribers drive their Model 3s to local boost stations rather than installing home chargers, which would drive up costs. There are currently a handful of Tesla Superchargers in the Sacramento metro area and more are scattered throughout the Central Valley and foothills. electric car maker, they have over a million cars they will produce this year. They dominate the market with nearly 80% market share,” Painter said. This makes it easier for a company like Autonomy to avoid inventory issues. It is expected to expand to other makes and models of electric vehicles as they become more widely available. Nevertheless, there is no doubt that for now, an electric vehicle subscription is best suited to very specific consumer groups. “It’s really about flexible use cases for a self. A college student, someone in the military, someone who’s maybe on a mission with a job where they’re in another city and they know that they are going to stay there for several months is a good idea for these target audiences, but before signing up, potential customers should consider insurance costs as well as any costs that may be associated with suspension and then reactivation of a subscription.

A California company called Autonomy has started offering Tesla Model 3s by subscription to its customers in an effort to lower the cost of owning an electric vehicle. Autonomy plans to make its inventory available in Sacramento in the coming weeks.

“We think one of the biggest barriers to electric driving will be cost,” said Scott Painter, Founder and CEO of Autonomy. “So what Autonomy is most focused on is reducing that cost, making it easy, making it fast.”

Autonomy does this by offering monthly subscriptions for its cars rather than having buyers sign a long-term lease or other financing plan.

To register, customers download the app, enter their driver’s license and credit card information, and then schedule their car pick-up.

Subscribing is simple and can save money, but it’s by no means cheap.

For example, a three-year lease for a Tesla Model 3 with a down payment of $4,500 has a monthly payment of $659.

With Autonomy, the down payment, or “startup fee” as they call it, is $4,900 and monthly payments are set at $490 for a minimum of three months. After that, the driver can return the car whenever he wants. But this $4,900 fee is non-refundable.

Similar to a lease, routine maintenance is covered by the Autonomy subscription. Registration is also covered.

But drivers are also limited to 1,000 miles per month. Anything over that will cost 25 cents per mile. Car insurance is not included.

There is also the charge to consider. Painter said most current Autonomy subscribers drive their Model 3s to local boost stations rather than installing home chargers, which would drive up costs.

There are currently a handful of Tesla Superchargers in the Sacramento metro area and others scattered throughout the Central Valley and foothills.

When asked why all of Autonomy’s inventory is the Tesla Model 3, Painter replied that it depends on availability.

“Right now Tesla is the dominant electric car maker, they have over a million cars they’re going to produce this year. They lead the market with almost 80% market share,” Painter said.

This makes it easier for a company like Autonomy to avoid inventory issues. It is expected to expand to other makes and models of electric vehicles as they become more widely available.

Still, there’s no doubt that for now, an EV subscription is best suited to very specific consumer groups.

“It’s really about flexible use cases for a car. A college student, someone in the military, someone who’s maybe on a mission with a job in another city and knows they will stay there for several months.

KCRA financial expert Kelly Brothers said this type of service is a good idea for these target audiences, but before signing up potential customers should consider insurance costs as well as costs that may be associated with suspending and then reactivating a subscription.

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