Leasys to offer ‘penalty-free’ monthly car subscription in Italy
It looks like the success of the Lynk & Co month-to-month (M2M) subscription model is starting to work as an ice-breaker to open up new possibilities for the car subscription market. Leasys, a subsidiary of the FCA Bank and part of the Stellantis group, just adapted its Be Free EVO offer in Italy, giving the freedom to end subscriptions without a penalty from month one on.
Leasys calls it a ‘smart long-term subscription’. It’s all digital, and there are five models available. The offer includes the all-electric New Fiat 500, the Opel Corsa-e (€389 per month), the hybrid Jeep® Compass 4xe (€479), and two ICE models, the Opel Corsa (€279), and the Fiat 500X (€379).
1 500 km per month included
Subscription prices are guaranteed for two years. Prices include 1 500 km a month, all other expenses like insurance and maintenance included except fuel or electricity, and fines. Starting from €79 per month extra, you can add another 1 500 km. There is a so-called ‘Super Cover’ insurance that eliminates the deductible due in the event of damage, total or partial theft, and fire, and you can add an additional driver.
Lynk & Co offers in Sweden, the Netherlands, Belgium, Germany, France, Spain, and Italy only one model, the Lynk & Co 01, at €500 per month without any long-term commitment and an entry fee. According to its Belgian CEO Alain Visser, it already signed up more than 30 000 members in less than a year.
Getting a car in 48 hours
Leasys lets you buy a ‘voucher’ for the desired car first at Amazon or one of its Mobility Stores, starting at 199 euros but promises no further down payments. The company says that all it takes is paying the first month’s fee to get your car within 48 hours.
So far, there is no word about expanding the offer outside Italy. Apparently, you have to be an Italian resident with a legal Italian fiscal code and driver’s license. “Access with a credit card only. The new ‘Ready to Go’ formula was designed by Leasys to rent a car for up to 24 months with the flexibility of a short-term rental,” the website states.
“A registration voucher purchased on Amazon or at the Leasys Mobility Store guarantees access to a no down payment subscription program with a fixed fee for the duration of 24 months and the possibility to go out whenever you want without penalties.”
A new frontier of mobility
“Be Free EVO represents the new frontier of mobility, an ideal synthesis of the increasingly popular trends of disownership, the subscription economy, and sustainability: it is estimated that by 2025, global revenues from leasing and rental will reach $500 billion,” said Giacomo Carelli, CEO of FCA Bank Group and Chairman of Leasys.
“FCA Bank and Leasys have embraced these trends, launching a subscription product that combines innovation and maximum flexibility, but with peace of mind for the customer. Long-term rental has never been so smart, digital, and easy,” Carelli adds.
Sharing among members
The new Leasys offer seems so far to come closest to the Lynk & Co model. However, the latter still goes way further by allowing its subscribers to share their car with other ‘club members’ at an hourly or daily rental feel they determine themselves. The latter lets them ‘mitigate’ the rental cost for themselves.
There are other subscription models out there, like Care by Volvo, Lexus One, or Sixt+. Still, all of them are far less flexible with penalty fees when canceling your subscription earlier than foreseen in the contract, like in classic leasing. They are generally more expensive, growing even more costly as you want more flexibility.