BMW Launches Car & Ride Sharing Lease

BMW’s Financial Services USA Branch announced today that BMW customers living in Washington, California, and Oregon now have access to a new sort of lease that’s starting this month, but really kicking off in February. We at North Bay Bavarian have the scoop.

How Does BMW Car & Ride Sharing Lease Work?

This new lease is called the Car & Ride Sharing Lease and will essentially let you rent out your car when you’re not using it for apps like Turo, which for those of you who aren’t really familiar is a car listing app for those who are traveling and would rather rent through a third-party, like yourself, than a dealership or rental car service specifically.

More often than not, Turo is more reliable, affordable, and easier to navigate than most rental companies. The Car & Ride Sharing Lease will also partner with ride-sharing companies like Uber or Lyft as well, giving you the ability to make some extra money.

The contract will depend heavily on which car and plan is chosen. BMW is trying to keep up with current market trends, hoping to get into the ride-sharing industry any way they can.

BMW is trying to dip into the ‘sharing economy‘ and it’s no wonder why – companies like Airbnb, Snapgoods, DogVacay, Fon, and others who are capitalizing on the economic activity of an online market community. Online transactions that are basically peer-to-peer sharing and exchanging via an online marketplace.

This, coupled with their latest app, ReachNow, which is a car-sharing service, from the BMW Group with the goal to provide the customer an experience that is similar to owning the car yourself. You drive on your own terms without the hassle and expense going to a rental spot, paperwork, etc. Available in China, Seattle, Portland, and Brooklyn, ReachNow offers up 1,300 BMW and Mini vehicles, and the BMW i3. You don’t even have to return the car to a specific location.