FAQs

Have questions about DriveItAway? You’ve come to the right place.

We’ve answered some of the questions we often get from dealers and drivers about our Flexible Lease program.

You can also use our app to get in touch with our automotive enthusiasts to answer any additional questions you might have. Download the DriveItAway app to get started!

DriveItAway FAQs on Mobile
DriveItAway / FAQs

Pricing & Payment

The usage rate comes from the selling price of the car. The monthly cost ranges from $450-$1000/month. Payments are prepaid weekly, biweekly, or monthly. Each vehicle has a different rate, based on the selling price of the car. To get exact rates, please choose a vehicle that interests you inside the Mobile App and proceed to the Build Program screen to see rates.

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You also get to choose how much to start with and how many miles you want included in your program beyond the standard 1,000 miles per month. Toggling these options on the Build Program screen in the mobile app will change your monthly cost. Paying more upfront can lower your monthly fee, as well as choosing less miles instead of more.

Insurance is a separate fee. The insurance rate is based on you, and we will offer guidance with how to get insurance after you book.

Debit and credit card are both welcome. However, prepaid cards are not allowed.

Program

The program offers monthly contracts where you prepay for use, and you have the option to renew at the end of each cycle. You are welcome to make payments on a weekly or biweekly basis, but the contracts are monthly. The average person stays with the program 6-18 months. Usually, by that time, the driver has reduced the optional purchase price to a point where they can get financing to buy the vehicle. But, there is no minimum or maximum time for you to use the car.

You can continue to pay for use and keep reducing the purchase price for as long as you need till you reach a point where you can obtain traditional financing.

The starting fee and recurring usage fees all contribute towards the vehicle.

Each usage payment earns a vehicle purchase credit. On average, roughly 50-60% of each usage payment will reduce the purchase price if you choose to buy. You can see the exact portion treated as a vehicle purchase credit on the Build Program screen in the mobile app.

With a traditional loan or lease, each payment has part principal and part interest. In this program, the company also has finance costs that need to be budgeted for, along with other fees needed to administer the program.

The following is included in each program:

  1. Title and registration fees. While in the program, the vehicle remains registered to the company.

  2. 1000 miles per month of usage (unless you purchase a larger amount of miles)

  3. Roadside assistance

  4. Full warranty

Each usage payment earns a vehicle purchase credit that can be used to reduce the purchase price of the vehicle--for your optional purchase.

Insurance and maintenance are not included. We do work with a partnered lender that can issue fast and easy short-term loans that can be used for any DriveItAway related cost, such as maintenance or insurance, that you could then pay back through our app in installments. All DriveItAway customers are approved instantly and automatically.

Booking your DriveItAway vehicle is a reservation. If you decide not to pick up the vehicle for any reason, just cancel in advance and everything is 100% refundable.

The more you drive, the more you write down the ultimate price of your vehicle to purchase. When the sales price is down to where you want it, you can buy it, at any time.

You can return the vehicle at any time, with no penalty or future commitment.

Policy & Qualification

In the process after booking, as we do not run any credit check, you will have to verify your income. There are many ways to do this, including uploading payroll stubs, linking with your employer/payroll provider, or showing bank account verification.

When picking up the car, you will need your driver's license and the debit/credit card you are using that matches the name on your driver's license.

There are 2 basic qualifications:

  1. Are you 21 or older and have a valid driver's license (no learner's permit)?

  2. Can you show net income of $2,000 or more per month (NON-GIG INCOME)?

Any credit is welcome.

Note: $2000/month is a minimum guideline when it comes to income. More expensive vehicles will require a higher income level.

Booking your DriveItAway vehicle is a reservation. If you decide not to pick up the vehicle for any reason, everything is 100% refundable.

If you pick up the car and start the program, you pay-as-you-go like any other rental/lease, and you only pay while you keep the car.

If you choose not to purchase the car, the usage fees are non-refundable and cover the use while you've had the vehicle, as they cover the depreciation and maintenance that has taken place with the vehicle.

If the car is returned, the starting fee and all usage fees till the time of return are non-refundable, but any planned/future charges will be voided.
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In summary, you pay as you go while you have the vehicle. Nothing more, nothing less 🙂

You can switch cars at any point, but if it's not for a mechanical issue of the car, the payments you made won't transfer to the next vehicle. You'd essentially just be starting a new lease process.

With DriveItAway, you will need a primary source of income that is not tied to driving the vehicle. We discourage the vehicles being used for gig purposes (Uber, Lyft, Postmates, etc.), and, as there are extra fees for mileage above 1000 per month (similar to a traditional lease), it will make the cost too expensive for drivers who earn substantial income from gig driving. However, you are free to use the car as you please, for personal use or part-time rideshare/delivery

For Car Dealers

DriveItAway Micro-Leasing can be offered as an alternative to traditional vehicle finance (leases/loans) when it's just not a good fit. If the customer lacks down payment or credit, suggest DriveItAway as an alternative. Use DriveItAway anytime you have a vehicle that needs to move and a customer that's on the fence or not a fit with traditional loans/leases.

DriveItAway can offer multiple tools that you can use in store or on your website to help direct customers to micro-lease specific vehicles. After the customer is approved by DriveItAway, next steps will be made to purchase the vehicle from the store with instructions to prepare the vehicle for customer hand-off.

For no set-up fees or fixed charges of any kind, DriveItAway does all the work, and you gain all the benefits.

It's simple, when our flexible lease comes into play, we buy the designated car from you and put it out on our line of credit; we are responsible for the payments and the residual value on our fleet lease.

You prep the car and deliver it to your new happy customer.

Your customer comes back to you for service and repair work, and, of course, there is always the option for the customer to choose to buy the vehicle driven at any time, at a reduced rate driven by his/her own usage payments – if they choose to buy, we send them back to you (DriveItAway is not a licensed dealer, all sales are referred back to your store).  The average flexible lease customer stays in a vehicle about 14 months.

Also, at any time, you, our dealers, can buy back the vehicle for your used car inventory, at the depreciated rate (again written down by the driver’s own usage payments), it’s an easy, efficient and inexpensive way to “manufacture” your own used car inventory, especially now, when off-lease vehicles are very hard to find.

It’s easy, just email support@driveitaway.com or john@driveitaway.com for next steps, we’ll be very happy walk you through the process….

There are no charges or fees; we have full financial responsibility for the monthly vehicle costs and residual value, and the entire flexible lease/rental process is handled inside the app. 

You just promote the flexible lease as a competitive advantage, and as an alternative when a conventional sale or lease won’t close a prospect, and we do the rest.

*Tools are available for the dealership website and/or showroom. 

Partnered with Free2Move, we can also add conventional daily rental to our services, and include even loaner vehicle availability (imagine no costs for your loaner fleet) with a commission fee to you, providing a full mobility center at your store, with no additional overhead while adding to your bottom line.

Call us today!

For Automotive Partners, OEMs, and Finance Companies

Many new AI technologies claim to give new insight into predicted payment risk based on additional criteria beyond credit score—but what could be better than actually monitoring payment history on the vehicle selected for purchase for an extended period of time before ownership is transferred? In this way, you can easily eliminate the few “bad eggs” quickly and nurture new, solid customers with a real payment track record.

While EV sales are up dramatically in the US, as Mary Barra CEO of General Motors herself has noted, 98% of EV sales last year were luxury or premium luxury vehicles, and 98% of the buyers owned at least two other vehicles.

Bottom line: It’s easy to “take the plunge” on an EV if you are rich and have two other gas-engine vehicles in your garage—but what about the rest of us?

Studies have shown that the two biggest impediments to entry-level and mainstream EV adoption are the higher price (on average 20% higher than a gas vehicle), and the suitability or “range anxiety” of an EV purchase. While it’s a fact that most people commute less than 25 miles each day, questions persist.

The DriveItAway subscription to (optional) ownership platform and program takes away these impediments by spreading out the price over a period of time while driving the vehicle, giving the renter the right, but not the obligation, to buy the EV at any time. Any time the buy option is exercised, a good portion of the money paid in is applied towards the purchase price.

In addition, the DriveItAway program could be used to control the remarketing of your used EVs coming off lease. We have thousands of potential drivers that would drive a used EV if given the opportunity on the DriveItAway “Pay as You Go’ program, where the benefits of driving in real-world conditions are experienced in an open, risk free transaction. 

DriveItAway provides the final piece of the puzzle for mass EV adoption—the purchase method that makes it all work and relieves purchase barriers in an all-digital, transparent, turnkey way. 

It’s easy, just email support@driveitaway.com or john@driveitaway.com for next steps, we’ll be very happy walk you through the process….

We welcome collaborative, innovative, and strategic opportunities to work with Automotive Partners, OEMs, and independent finance companies, and can tailor our turnkey platform to suit specific applications and needs.

Just reach out to us directly to explore any new ideas you might have on how to use our platform, technology, and program to meet the needs of a new generation of vehicle users.

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