There are a lot of reasons that people want to drive a Tesla and now one company is trying to make that easier than ever. Rental car startup Kyte has created a Tesla subscription service that will allow customers to drive a Model 3 for as little as $995 per month. Here’s a breakdown of the service and how it compares to other options on the table.
To get that $995 per month pricing, customers will need to commit to a 12-month contract. There are other options though. Sign up for six months and you’ll pay $1,125. Cut that in half again, down to just three months, and you’ll pay $1,350 each month to have a Model 3 in your garage.
That’s right, this isn’t a ride-share or rental-sharing program, you have complete access to the car at all times. And at those prices, it’s a huge saving over actually renting a Tesla through other means. On Turo, it’ll be tough to find a month-long Model 3 rental for less than $3,000. No promise of what specs you’ll find either.
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Hertz made waves when they committed to renting the Model 3 but they’re not much cheaper. To rent the standard-range version for a month you’ll pay over $2,000. That makes this new service potentially a huge saving for customers. Aside from just having access to the car, Kyte also covers insurance, maintenance, and other costs as well.
The only thing that Kyte customers will pay for aside from the rental is whatever charging costs they incur. Of course, it’s not a perfect solution. For one thing, you will have to be in the San Francisco or New York area to take advantage of the service. In addition, outright buying a brand new Model 3 Long Range could prove to be more financially beneficial depending on your personal circumstances.
Does this new rental service sound reasonable to you? Would you be willing to dive into this deal if it were in your area? Lots of brands are working hard to figure out a subscription model but they are more expensive than leasing and haven’t been able to make them work, with BMW, Audi, Mercedes-Benz, and Cadillac eventually shutting their subscription services down.
