Last update 2023-02-28 Reading time 1:50 min
This article about Borrow breaks down everything you need to know about the company, how their contracts work, and what your options are with regards to extending, upgrading, canceling, and more. We’ve even given you a guide on vehicles and guide pricing, so you can easily compare subscriptions and make an informed decision.
Borrow is a car subscription service that offers electric vehicles for collection from their headquarters in West Hollywood, Los Angeles, CA. Unlike other subscription services, Borrow only offer their vehicles on 3, 6 or 9-month terms, with new terms agreed at the end of each subscription. As an electric car provider, Borrow also supply chargers and an allowance of one free car wash per month, as well as offering prepayment terms for customers with poor credit.
How it works
The Borrow process is much like its competitors, but doesn’t involve flexible flipping or upgrading:
- Sign up and choose your vehicle
- Choose a term – 3, 6 or 9-month terms are available
- Pay first month in advance, or prepay the entire subscription if you have poor credit
- Start driving
- Return car at the end of the term, and arrange to renew, change car or walk away
While you have the car, you’re expected to keep it on good condition, but Borrow help by giving you one free emailed coupon for a car wash each month. They also provide a home charger so you can charge your vehicle at home or out and about.
Cost and fees
Borrow charge a one-off $25 sign on fee, as well as a $50 cleaning fee when your car is returned. You must also either arrange your own insurance or arrange for separate insurance through one of Borrow’s preferred insurers.
The costs for the four cars are:
$199/month for 9 months
$249/month for 6 months
$299/month for 3 months
$399/month for 9 months
$449/month for 6 months
$499/month for 3 months
$524/month for 9 months
$574/month for 6 months
$624/month for 3 months
Tesla Model S:
$1099/month for 9 Months
$1299/month for 6 months
$1499/month for 3 months
Brands and models
Borrow keep it simple with four different vehicles available to choose from:
- Smart Fortwo
- Fiat 500E
- BMW I3
- Tesla Model S
As Borrow operates on 3, 6 or 9-month contracts, new contracts for new vehicles are negotiated at the end of each term, with no early cancelation possible without charges.
What’s special about Borrow?
Borrow’s main feature is that it only offers electric cars, keeping its fleet limited to four different vehicles that cover a wide price range. They provide chargers with each car, but charging can also take place at any ChargePoint station, or EVgo station depending on the vehicle.
Borrow also offer one free car wash per month in the form of a coupon. Their mileage restrictions are based on their own user data, but the charges for going over aren’t outlandish.
As a fully electric car subscription service, Borrow have positioned themselves as one of the market leaders for environmentally friendly options in this market. This is currently an LA-based service with four cars available at prices to suit almost any car owner’s budget. They do offer cars to anyone over 18, rather than focusing on the 21 mark like many of their competitors. They also offer prepayment so those with poor credit don’t need to miss out.