BMW has teamed up with mobility provider Drover to offer vehicles on a pay-as-you-go basis from £131-per-week.
It is so far unclear what the franchised dealer network’s involvement in the process, which will see consumers’ car, insurance, maintenance, servicing, taxes and breakdown-cover covered by a single monthly payment.
Last month AM reported how Drover had seen its “mobility as a service” venture given a £5.5m funding boost in a recent funding round after existing investors Version One and Forward Partners previously invested £2 million in a pre-seed round.
The latest partnership agreement is sure to further boost the London-based business’s fortunes.
Prospective BMW and Mini drivers will be able to access Mini hatchbacks or BMW 1, 2, 3, 4 and 5 series, as well as X and i models, through the new scheme.
Users can sign up online to sign-up to to the new service which will allow them to swap, upgrade or downgrade their car monthly cost or just cancel altogether, without any long-term commitment or steep upfront down-payments.
BMW said in a statement that the partnership idea was born during BMW’s Innovation Lab program, a ten-week programme which enables start-ups to trial products at scale, receive expert mentoring from senior members of the BMW Group UK management team and access insights from leading subject matter experts in the automotive and automotive finance sectors
Chris Brownridge, BMW UK sales director, said: “New, creative solutions allow the chance for car users to experience BMW or Mini ownership for as long or as little as they require.
“BMW Group UK is at the forefront of such development and we are excited to announce a partnership with Drover, the car subscription platform.
“Through its new subscription model we are able to provide an even wider range of ways to access BMW and Mini vehicles for retail buyers to suit their changing requirements.”
Felix Leuschner, founder and chief executive of Drover, said: “We are incredibly excited to be working with BMW Group UK and very proud to be announcing our partnership, which is a direct outcome of our participation in BMW’s Innovation Lab.
“Our partnership brings together the latest and best in cars with a new model of ownership to give those demographics access to vehicles who might otherwise not purchase one, driving incremental revenue for BMW Group UK”.
Cars on offer on the scheme start with a MINI Cooper 3-Door Hatch and a BMW 116d Sport and rise through the 2 Series Coupé and X1 up to 4 Series Coupé and 5 Series Saloon and Touring models.
Other available vehicles include 2 Series Active Tourer, 2 Series Convertible, 3 Series Saloon and Touring, 4 Series Convertible, X3 and i3.
Pricing for a Mini Cooper 3-door Hatch starts at £562 for a monthly ownership option, while the same time period for a BMW 116 Sport is £778.
One month of BMW 520d Saloon ownership is £1,076.