Startup profile: easyCar Club
We’re excited to highlight easyCar Club – one of the startups selected to join this year’s Access vs Ownership challenge.
easyCar Club offers a peer-to-peer car and van hire service to their 100,000 members. They’ve joined the 10-week BMW Innovation Lab to explore a consumer-facing lease-to-rent proposition, looking into giving customers the opportunity to rent a vehicle they are leasing on the easyCar Club platform in order to make some extra money.
A primary goal of the collaboration is to increase the retention of existing leases and to enable other demographics better access to ownership of a BMW or MINI vehicle. A large proportion of easyCar Club’s renters are between the ages of 29-35, meaning they are responsible drivers, but lack disposable cash. easyCar Club’s goal is to make it possible for these consumers to lease the car they want to drive and earn money to offset the monthly payments by using the peer-to-peer system.
The easyCar Club team are currently working to remove the legal restrictions around peer-to-peer leasing, so that drivers can rent out their vehicle for a special occasion, a weekend away or whilst they’re on holiday.
This initiative will make premium segment vehicles from BMW more cost effective for the more cost-savvy consumer base.
easyCar Club are also exploring a similar concept with Alphabet, a business mobility organisation within the wider BMW Group. Similarly, this could allow fleet owners to rent their vehicles while they are not in use, thus increasing their optimisation and reducing standing times.
In contrast to other players in the marketplace, easyCar Club are taking the sharing economy into the premium market.