Lexus on Tuesday jumped into the new-car subscription foray.
Lexus calls its program the "Complete Lease" program, although it mirrors rivals' subscription programs in many ways. One difference, however, is that Complete Lease does not allow swapping into other cars throughout the subscription.
Instead, eligible users can choose the Lexus UX sub-compact crossover for the Complete Lease program. One monthly payment covers the car, insurance, maintenance, and connected vehicle services such as satellite radio and navigation. Travelers Insurance will underwrite the insurance portion of the program and Lexus will provide GAP insurance coverage, too. Lexus adds in wheel and tire protection and up to $1,000 in excessive wear credits over the 20,000 miles allotted.
Rival programs offer unlimited mileage to subscribers and the ability to swap into other cars periodically. The Complete Lease program somewhat mirrors Care by Volvo, which also gives subscribers a two-year "lease" on a vehicle, except that the Lexus deal keeps subscribers in their cars. Care by Volvo offers subscribers the option to switch into a different car after a year.
All Lexus UX trims and variants will be part of the Complete Lease program and the subscription plan will roll out across 80 dealers initially in California, Florida, Illinois, Indiana, Massachusetts, New Hampshire, and Rhode Island.
As for the cost, that depends on credit approval. Other programs tout a fixed rate, but Lexus said the Complete Lease program will be presented as an available option subject to an individual's credit score and history.