Follow up on Used Cars as a Service

After reading excerpts of what I wrote at Why I Failed, I realized that programs already existed. Buy Here Pay Here, Leasing and Rental cars all have similar functions without achieving the same objectives.

BHPH help consumers get into a car despite credit blemishes. Their service is not the product but access to the product.

Rental companies are similar; it’s not the car but access to the car, and who wants to pay $30 a day for a car.

Lease companies help consumers avoid some of the hassles of car ownership: depreciation, trades, and waiting for years to buy a new car.

Rent to own programs are another option, but that program is targeted at credit impaired customers.

It should be possible to come up with a product offering for more financially sound customers that has obvious benefit compared to owning a depreciating asset.

One response to “Follow up on Used Cars as a Service

  1. I’m glad I helped the conversation. (-:
    As you’ve said, these examples fall short and I think it’s because they’re focused on the car, not the customer (rental is closest, but only available for a short time). Wouldn’t it be cool to contract with a company that supplies cars as a service. Whether through an “every three year” exchange, “I need a truck this weekend” or a hybrid of the two, a service like that could be powerful.

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