A new joint venture between Cox Automotive and Holman Enterprises has turned the companies into shared owners of Flexdrive, a vehicle subscription and services platform that allows dealerships to offer vehicle subscriptions as an option alongside buying and leasing. “With Flexdrive, we are rewriting the rules of car ownership,” said Jose Puente, President of Flexdrive in a news release.
“It is the new way to car, and fueled by the joint support of Cox Automotive and Holman Enterprises, we’ll be bringing this unique offering to more markets throughout the year.”
Initially created within Cox Automotive in 2014, Flexdrive enables consumers to subscribe to a car via a mobile app within minutes. The subscriber is then able to drive the vehicle without working out the insurance, maintenance, or any of the other activities normally involved in purchasing or leasing a vehicle. The service provides two payment options and no down payment or credit check.
Subscribers can swap vehicles at any time, giving them flexibility without the having to commit to a long-term contract, according to the release.
“Through this partnership, we are combining the best of both companies to give consumers a new way to satisfy their mobility needs while enabling dealers to get into the mobility market,” said David Liniado, Vice President of Consumer Mobility at Cox Automotive.
“The modern marketplace is asking for mobility solutions, not just transportation, and we are enthusiastic about working together with Cox Automotive to meet the modern consumer’s needs,” said Brian Bates, President and CEO of Holman Consumer Services.
