Pricing & Payment

The amount you pay each week or month depends on the selling price of the car and how much you want to pay to start. The more you start with, the lower the weekly/monthly rate will be.

If you drive more than 1000 miles per month, you will pay more usage fees, but this will simply get you to your goal quicker. These payments count towards your down payment as well.

You can find the vehicle you are interested in and click through to the pricing screen. You'll see a detailed breakdown presented in the app.

You are welcome to use either a debit or credit card. Both are welcome. However, prepaid cards are typically not allowed. In some select cities/employers, we can also implement a voluntary payroll deduction plan for payment if desired.

Program

The average DriveItAway program is 6 months long and builds approximately a 20% down payment within that time, but it all varies depending on the vehicle and payment needs of our customers. Programs can run from as little as a few months to a year or more, depending on the vehicle and the renter.

We are very excited to now be introducing new EV vehicles into our fleet, which extends the average range of our program for this type of vehicle in service to 12-18 months for an optimal payment structure for purchase – and you get the fuel savings of driving a new EV from day one.

The DriveItAway program allows you to build coupon credit with each rental payment. Once you have built enough credit for the required down payment, you can convert to a purchase at any time; this money counts as a cash reward credit towards your purchase.

Yes, insurance is included with the program, but it is a separate charge – same as if you had your own car loan or lease.

Yes, all routine maintenance is included while you are in the DriveItAway program – we actually track and send you a reminder in the app when routine maintenance should be scheduled. From there, we help schedule it at a local service shop, or in some regions, we are now piloting onsite routine maintenance – service when and where you want it, at your door.

The program is Pay-As-You-Go with both rent and insurance. The base rate includes 1000 miles per month. The insurance portion of the extra mileage charge goes towards the coverage, while the rental portion of the extra mileage charge, if you drive more than the allowed miles, will credit towards your down payment coupon. So, if you drive more, you will get to your down payment goal quicker. In short, if the vehicle comes back to us, you pay for the extra mileage, if not, what you pay in for miles credits towards your down payment.

The program is based on a Pay-As-You-Go model. You are allowed 1000 miles per month with the base rental and insurance fees (base rates are reasonably low), and then you are billed per mile thereafter.

We run a variety of vehicles in a region, and available inventory varies. Just download and register in the mobile app, and see what vehicles are currently available. In any given market, there are sedans, SUVs, and minivans of various model years, and mileage ranges, for used vehicles. We are also now piloting our own fleet of new electric vehicles in some markets. If you don’t find what you are looking for, let us know.

Policy & Qualification

Prior to picking up the car, you are welcome to add your pay stubs and other types of proof of income. These will be needed to ensure your ability to make and keep up with the rental payments.

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 three basic qualifications:

  1. We run a Motor Vehicle background check to qualify for our insurance coverage/provider to make sure you are a safe driver.
  2. You must be at least 25 or older and have a valid driver's license.
  3. You must show an income of $3000 or more per month.

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.

If you pick up the car and start the program, you pay-as-you-go like any other rental, and you only pay while you keep the car. The more you drive, the more down payment credit you build. Once you have enough of a coupon credit built up as a down payment for the vehicle, you can buy it, if you choose.

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

If you need to change cars for some mechanical reason or some true fault of the car, we or our client dealer will make a concession to have amounts that you have paid apply to another vehicle. However, if it is just a matter of personal choice, usually the initial fee can transfer, but any other usage fees would stay with the first car to pay for depreciation, wear and tear, etc., similar to if you simply turn in the vehicle and end the program.

You are not making any long-term financial commitment to the vehicle you choose, as you always have the right, but not the obligation, to buy the vehicle chosen, and if you choose to buy, the substantial portion of the money paid goes towards the purchase. However, if you choose to change vehicles or turn the vehicle back in, while there is no further financial obligation, the money paid goes towards the use and depreciation of the vehicle, as with any rental arrangement.

With DriveItAway, you will need a main source of income that is not tied to driving the vehicle. However, you are free to use the car as you please, for personal use or part-time rideshare/delivery (Uber, Lyft, Postmates, Instacart, Doordash, GrubHub, Amazon, etc.) The program has a Pay-As-You-Go structure when it comes to both usage and insurance.

Note: there are extra insurance fees for driving over 1000 miles a month, and there are extra usage fees as well, but those extra usage fees go directly towards your credit coupon accruing towards ownership. If you drive more, it costs more, but you are building up down payment more quickly.

For Car Dealers

DriveItAway technology is the first of its kind to offer the best of a rental or lease—leading to a purchase—for all consumers.

We’ve all had people walk into the showroom, land on a car they want to buy, and ultimately need more cash down than they have on hand and no cosigner to help.

Before DriveItAway, all you could do was tell that customer to come back when they have more cash. This caused good folks, who would make loyal customers, to be turned down.

Now, with the DriveItAway subscription to ownership program, you can have these customers driving out of the store in a turnkey, app-based subscription/rental where you set the terms. Additionally, some of the money paid towards the rental is accrued towards the eventual purchase.

With DriveItAway, you can start the purchase process in an all-inclusive (insurance, maintenance), app-based, risk-free rental, gaining customers and sales with every listing.

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

You can truly create an “EVs for Everyone” store as a dealer by “manufacturing your own used EV cars” and taking full advantage of the unprecedented $4k or 30% tax incentive on used EVs and PHEVs that are two or more model years old.

All you need to do is put a new or used EV into your own subscription service and rent it to someone who needs to drive and wants to build equity to buy a vehicle. DriveItAway handles all the details, including providing full insurance for your organization or special LLC.

When you have written the EV or PHEV down with rental payments at or below the $25k sale price threshold, you now have a used vehicle with a $4k or 30% tax incentive, courtesy of the Inflation Reduction Act of 2022. The more you write it down with customer subscription payments, the bigger the percentage incentive—up to $4k or 30%. Write it down to $13k, and you have an extra $4k “in the deal.”

While some dealers are expressing that the $4k tax incentive is nice but not available with desirable EVs selling for over that threshold, smart dealers are using our DriveItAway platform to accelerate the cost reduction on great EVs. This means you’ll have a portfolio of EVs to sell next year, leveraging the tax incentive.

Which do you want to be: Someone who waits years, or someone who profits from the new incentives today?

Designate the vehicles you want to put on the program, install the telematics (with ignition cut off), and we do all the rest. No startup fees and no fixed fees of any kind.

We verify and qualify your potential renter (DMV checks, background checks, income verification, even payroll deduction for payments when available), we collect all periodic payments in advance (you set the intervals), and everything is done in the app, the easiest most transparent way to “sell” a car (as a rental, no “wet ink” signatures required).

You use the Web-based admin platform to set the terms, payment schedule, and more, and we take it from there! We’ll monitor for safe driving, make sure payments come in when due, bill for any excess mileage, and collect and forward insurance payments.

We make our money on a small revenue share, so you are never out of pocket.

Just call (203) 491-4283 or email support@driveitaway.com for next steps….

It’s as easy as registering as a dealer, letting us know what company you want to be listed as for our fleet insurance policy, and giving us instructions on where you want payment received (all payments are digitally deposited through Stripe). Set up a vehicle or vehicles to be displayed under your dealership in the app—which is done by integration with HomeNet or listing vehicles individually—and then set up your rental subscription terms.

It’s that easy—with no set-up fees and no fixed fees of any kind—and you install the GPS/cut-off technology after a confirmed booking (an easy half-hour install).

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.

Prices of new EVs are getting lower and used EVs now written down at or below a $25k sales price have a $4k or 30% tax credit for qualified buyers.

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 like an unlimited test drive that pays you.

Just call (203) 491-4283 or email support@driveitaway.com for next steps….

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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