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Toyota Kinto combines leasing, car sharing and other services in Europe
Toyota wants to evolve from a car-maker to a mobility company. To do that, it's launching Kinto, a new brand that will provide full-service leasing, car sharing, carpooling and subscription-based leases. Unfortunately, those offerings will only be available in Europe.
Tesla found a loophole that lets it lease cars in Connecticut
Like numerous states, Connecticut has pro-dealership laws that industry groups have used to block competition from Tesla and other brands that prefer direct sales through stores. However, Tesla appears to have found a loophole. According to Electrek, Tesla told a local owner's club that it's now offering leases through its showroom in Milford. The key, the EV maker said, was to only focus on leases. While it still can't sell cars at retail in Connecticut, it is "eligible" for a leasing license.
Tesla rumor claims Model 3 leasing is right around the corner
If purchasing a brand new Model 3 -- even at its latest starting price of $42,900 -- is too much of a commitment for you, the option to lease could be coming soon. Electrek cites internal emails in a report saying that the company is preparing employees for the start of a leasing program, which could kick off in as little as two weeks. While Tesla responded saying timing of the program's launch isn't finalized, "but it will definitely be after the dates outlined in this document." Reports like the one claiming Tesla cut back on its deliveries team have suggested it may have already fulfilled many of the reservations for customers ready to buy at the current price. Tonight CEO Elon Musk tweeted a picture of 4,000 Teslas on their way to Europe, and said that by the end of 2019 his company would "probably" hit a production rate of 10,000 vehicles per week. Tesla spokesperson: This is simply an internal document to ensure teams are prepared for when we eventually introduce a leasing option to customers. No decision has been made about when Model 3 leasing will be available, but it will definitely be after the dates outlined in this document.
Add a luxury Volvo to your list of monthly subscriptions
When Volvo introduced the smallest member of its SUV line, the XC40, it wasn't the car that got all the attention. It was how the Swedish automaker planned on leasing it. With Care by Volvo, would-be XC40 drivers wouldn't invest $35,200 to own the all-wheel-drive vehicle but rather pay a monthly subscription of $600 that includes insurance, routine maintenance, wear and tear, roadside assistance, and zero money down. So yeah, it's a bit like a lease. But better.
BMW's new lease lets you drive for ridesharing services
It's not always obvious, but many car leases don't allow you to drive with ridesharing services or rent your car to others. And it's no surprise as to why -- the high mileage and varying driving habits aren't going to help the car's condition when the lease is over. BMW, however, is sticking its neck out. It's trotting out a Car & Ride Sharing Lease for BMW- and Mini-branded cars that, as the name suggests, permits either driving for a service like Uber or renting your car to others. If the payments on your 3 Series are a little too difficult to bear, you can make some money on the side.
Uber is offloading its money-losing car lease business
Uber has been eager to ditch its car leasing business for months, and it appears to have found a buyer. Wall Street Journal sources claim that the ridesharing company is selling its Xchange Leasing unit to the car marketplace Fair.com. While it's not clear how much Fair is paying, it reportedly won't be a clean break. Uber will both take a stake in Fair and point would-be drivers to the site through its app. Fair, in return, will offer jobs to roughly 150 workers affected by the switch.
Uber will stop leasing cars to drivers in the US
Those rumors of Uber shuttering US car leasing for drivers were true. A spokesman has confirmed to the Wall Street Journal that it's closing Xchange Leasing in favor of a "less capital-intensive approach." To put it another way, the initiative cost far too much money -- the earlier leak had it losing about $9,000 per car versus the $500 it expected. The company hasn't said what it will do to replace the American program, although this isn't likely the end of leasing worldwide. Its program in southeast Asia is likely to continue despite problems with defective vehicles.
Sprint's updated deal gives you a 'free' iPhone 8 with a trade-in
Sprint's initial iPhone 8 offer was fine, but nothing special: you could get half off the price of an 18-month device lease. It's ready to sweeten the pot, however. It just launched an updated promo that gives you a 64GB iPhone 8 for free with a trade-in and an 18-month lease. You still have to hand in a high-end device like one of the iPhone 7 models, a Galaxy S8 or a Galaxy Note 8, so this is more for frequent upgraders or those with a serious case of buyer's remorse. It's better than before, though, and you can apply the $29.17 monthly credit toward the 64GB iPhone 8 Plus if you crave a larger screen.
Uber is reportedly closing down its car-leasing program in the US
Uber's terrible, awful, no-good 2017 isn't over yet. Two years after it started leasing cars to drivers, the ride-hailing company has realized that it should've looked at the economics of such a little better. "The average loss per vehicle was about 10 times what they had thought," the Wall Street Journal reports. Specifically, WSJ's sources say that the company is losing around $9,000 per car. That's a stark contrast to the $500 per-car losses it expected.
GM's car-sharing program links Uber drivers to weekly rentals
While we mostly think of GM's Maven program as just a ZipCar-like car sharing service, it's more generally an option for "flexible" access to vehicles. That's why Maven is a part of Lyft's Express Drive program that offers up short term rentals for drivers, and today it announced a partnership with Uber. Launching with a 90 day pilot in San Francisco, it lets Uber drivers lease a Chevrolet Cruze, Malibu or Trax for $179 per week (plus fees) with no mileage limit, and insurance is included.
Amazon launches 'Prime Air' with a cargo plane, not a drone
The first time we heard about Prime Air it was emblazoned on drones Jeff Bezos showed off for 60 Minutes in 2013. Now Amazon is revealing the logo on a flying machine that operates on a much larger scale. Amazon One is just one of its 11 dedicated planes, and the Boeing 767-300 will be flying this weekend at a Seattle airshow. The company says that maintaining its own air cargo network -- the planes are leased from shipping partners, with plans to expand to 40 over the next couple of years -- will help it keep shipping speeds up.
Sprint (almost) fixed the low video cap on its new 'All-in' plan
This morning Sprint announced it planned to "end consumer confusion and frustration" with an "All-in" pricing plan that combined unlimited data with a two-year phone lease for $80 total. The only problem? An absurd limit capping video streams at 600Kbps. Tonight, CEO Marcelo Claure announced that he has heard consumer frustration with the cap, and Sprint will not place any limits on streaming video with the plan. The press release reveals a bit more detail about the revised plan, saying that "we might have to manage the network in order to reduce congestion" for other customers, so it's still not all good news for the plan. Still, if you don't mind a second-tier experience during busy times, it might be a cheap way to get service and keep re-upping on new phones every couple of years. [Image credit: Bloomberg via Getty Images]
Not really into the iPhone 6? Sprint lets you rent the Galaxy S5, too
If you prefer to carry Samsung's most recent handset instead of that newfangled iPhone 6, Sprint is now offering the Android option for lease. Until now, the carrier allowed customers to rent Apple's phone for $20 a month for two years. After that, you can either continue service month-to-month or send it in for something new. It'll be interesting to see how popular the option is with a phone that's been out for a bit, but the Galaxy S5 Sport is available for lease, too. If you're on the fence, or have a tight budget, Sprint's unlimited everything plan is $10 per month cheaper for iPhone 6 users/lessees.
Smart's Fortwo ED leasing for $139/ month, battery rental included
Assuming you're small enough to fit comfortably, owning the cheap EV of your dreams could soon become a reality. Chevy recently cut the Volt's price and, as of this week, the Smart Fortwo Electric Drive is available for less, too. Specifically, it's $139 per month on a three-year, 30,000 mile lease that includes its "battery assurance plus" program, an $80 per month option for purchasers. However, to get that special rate, you'll have to put $1,999 down and sign paperwork either in California, Oregon or along the East coast. If you'd rather buy outright instead of leasing, Daimler's compact division has incentives for you, too. In addition to any tax breaks you get from the state and or federal government, the company is knocking $5,010 off the ED's already low $25,000 sticker price. It's finally looking like your payments could match the electric two-seater's diminutive stature.
New Nissan Leaf comes to the UK with battery leasing option, extended range
With price reductions on both sides of the Atlantic, and a battery replacement promise, Nissan is clearly keen to lure you over to the EV side of the fence. The latest ploy comes in the form of a battery leasing scheme in the UK market. Dubbing them "Flex" models, cars bought with a leased battery will start at £15,990 (about $24,000) thanks to a British government grant scheme that knocks £5,000 ($7,700) off the price. It'll then cost £70 ($108) and upwards a month to rent the battery depending on the contract and mileage. The new British-built version also comes with a swathe of improvements (over 100 claims Nissan), with top-billing going to the extended range -- from 109 to 124 miles. With charging times also said to be close to 50 percent of those of the original Leaf, the car certainly seems to be moving with the times. Those who prefer to buy the car and battery together as one, can still do so, at the expense of the £5,000 grant. Still undecided? Remember even more improvements could be on the way.
Tesla Model S now eligible for non-traditional lease with resale guarantee
Just as Tesla isn't in the business of making average cars, it's just introduced a leasing program for the Model S sedan that's not entirely run-of-the-mill. Unique to the company's 66-month lease program, you'll find the option of selling the Model S after 36 months at a price that's pegged to the residual value of the Mercedes S Class. While that may sound all fine and dandy, be warned, if you couldn't afford a Model S before, there's a good chance it's still be a wee bit out of your grasp. The Tesla Model S 85kWh edition runs $1,199 per month, which then becomes slightly more palatable once tax credits are factored in. On the average, individuals can expect to pay between $732 to $940 per month for the privilege of leasing a Model S. Meanwhile, business users stand to benefit even more, who can use tax credits to bring the overall cost down to $505 per month. Feel free to hit up the source links if you now think Motor Trend's 2013 Car of the Year is an expense you can stomach, but for the rest of us, we'll just keep dreaming.
T-Mobile leases 7,200 mobile towers to Crown Castle in a 28-year, $2.4 billion deal
T-Mobile's just received a hefty cash boost thanks to a tower-leasing agreement it's entered into with Crown Castle. The deal leases 7,200 wireless towers to the infrastructure firm for a term of 28 years in exchange for $2.4 billion -- that T-Mobile's parent Deutsche Telekom will use to pay off debt. As part of the contract, Crown Castle can buy the towers outright when the deal ends in 2040 for a further $2.4 billion -- and is planning to make money by adding another tenant to T-Mobile's system, so depending on your carrier, you might find your coverage suddenly getting a lot better.
Audi A3 e-tron hands-on (video)
It's not often that we spend quality time with automobiles here at Engadget, but our motives are usually geared by electricity when we do. Take for instance, the Audi A3 e-tron concept above. This isn't the first e-tron concept -- if you'll recall, the company's been dabbling with others like the A1 and A2 -- but back in November we learned that the German automaker planned to begin testing this all-electric plug-in in four regions within the US. It hopes to gain insight into how these cars will take to different climates and roadways in the country, while finding out how it will fit into drivers' daily lives. Naturally, the goal is to have something ready for consumers, but Audi figures that it's still about two years away from realization. After being in the hands of folks within the company, it's decided to let these prototypes loose in the hands of news media like ourselves (!) to show it off and see what outsiders think. As you've probably figured out, we definitely just took this four-door hatchback for a spin near Engadget HQ, and you'll find out all about how it got us around the city in one piece -- with us nearly draining the battery in Times Square in the process -- after the break. %Gallery-158241% %Gallery-158240%
Audi comes clean on A3 e-tron pilot program, electric mobility coming to four US cities
Longing to get back into the EV game after your MINI E got sent back to the mothership? If you didn't hop on the BMW Group's other electric trial, the 1 Series-based ActiveE, how about giving a shake to a car from its rival in Ingolstadt? At the TED2012 conference, Audi just confirmed prior plans to lease its electrified hatchback, the A3 e-tron. Just like last time we espied it, the electric city-dweller will have a top speed of 90MPH and rather languid 0-60 sprint of eleven seconds. No word on price, though, but those serious on joining the pilot will have to call San Francisco, Los Angeles, Washington DC or Denver home. That quartet of locales represents a diverse range of climates, which it'll use to gleam important real-world data for future e-tron endeavors. We're not entirely sure how we feel about possibly paying to be a transportation guinea-pig, but can you really say no to those red-lined rims? Us neither. Catch them in a video form alongside PR after the break.
Apple setting up another data center in Silicon Valley
We haven't even officially been told what's up with the data center in North Carolina, but apparently Apple wants more -- the company is also setting up another new data center much closer to home in Silicon Valley. The 11,000 square-foot setup is smaller than the big complex in North Carolina, which is said to be over 500,000 square feet (with about a fifth of that as actual server space). But the Silicon Valley center will still be pulling its own load when the 2.2 megawatts of critical power load comes online in September of this year. Apple is leasing the space wholesale from a company called DuPont Fabros, and it's not a stretch to think that if Apple needs more data center capacity very soon, DuPont Fabros will be more than happy to provide it. This one is located in Santa Clara, CA, and here's an interesting tidbit: There are a lot of data centers in that neck of the woods because the local power provider, Silicon Valley Power, offers relatively cheaper rates than Pacific Gas and Electric Company nearby. Hopefully we'll hear what all of this data center space is for soon -- WWDC is just around the corner.
