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Tesla cars are very popular among consumers. However, due to various circumstances, not everyone can buy one. Autonomy has purchased 100 Tesla Model 3s for rental to customers and plans to expand the offer to 10,000 units by the end of 2022.
Entrepreneur Scott Painter, who is the founder of TrueCar Inc. has launched a new service. The subscription service was launched in California and gives customers a Model 3 sedan for a flat monthly fee. A new venture called Autonomy has already purchased about 100 Tesla vehicles. “We own the car, you're driving it. It’s a simple contract and you can do all of this with a credit card,” Painter said on Jan. 20, according to Transport Topic. “It's not a traditional lease or car loan.”
The new company is looking to capitalize on growing consumer demand for electric vehicles, especially among those who want to try them out before making a purchase. Autonomy began offering service in California with plans to expand to other states. A feature of the service is that a car can be ordered within 10 minutes after a customer provides a driver's license and payment.
The minimum subscription period is three months, and then the client can continue it every following month. The company offers various options, one of which is a $5,500 down payment and a $550 monthly rate. For example, Tesla is offering a 36-month lease on the Deep Blue Metallic Model 3 Long Range with an estimated $4,500 down payment and monthly payments of $561.
Autonomy was able to buy Tesla cars because it was flexible in choosing different details, such as configuration, color, wheels. The company hopes that by the end of Q1 this year, it will be able to receive another 400 vehicles and will have a total of 500. But this is not the limit. Autonomy hopes to receive 10,000 vehicles by the end of 2022.
The name “Autonomy” means freedom from fossil fuels and debt, Painter says, and should not be confused with autonomous driving. “We are not trying to imply that this is about autonomous driving in any way,” said Painter.
© 2022, Eva Fox | Tesmanian. All rights reserved.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.