By: Simon Richardson
Last update 12. April 2022 Reading time 2:56 min

About Karmo

Karmo’s mission is to evolve the way city’s move. One of the ways in which they aim to do this is by making access to a new car every 4-9 months more flexible, affordable and simple than ever before. With a focus on Electric Vehicles, Karmo works with individuals, small businesses and enterprise level clients to re-think what access to a vehicle can look like.

Karmo customers can select to subscribe to a car in a few easy steps ranging from short term up to 12 month terms. At the end of the term the customer simply hands back the old car, picks up a new car and continues with their life. The admin of car ownership doesn’t factor into their customers minds. Maintenance, registration, insurance and roadside assist are all standard inclusions. Nor is there any need to worry about depreciation of your vehicle as this is all factored into a price that makes car subscription as cost effective as traditional car ownership.

How it works

The application process is fairly straightforward.

  1. Firstly, contact and apply. Once you’ve contacted Karmo , they’ll send you an application form.
  2. Pick Your Car. Once approved they’ll organise your car and set up the car subscription contracts and payments. Once your car is ready for pick up, they’ll let you know.
  3. Simply Drive. They’ll give you the keys and let you get on the road. Payments will occur on the agreed basis and when your term is almost finished, they’ll get in touch to see what car you might like to drive next.

Costs and fees

Pricing structure and fees are extremely competitive when compared to traditional car ownership.

Once a car has been booked and the customer has signed all relevant documentation, the following payments will be applicable:

  • 2 Weeks upfront. The first 2 weeks of subscription are taken up front when the vehicle has been picked up. The customer will pay a weekly payment every week from there on in via direct debit.
  • Bond. There is a $300 bond paid by each customer at the time of pick up. This is fully refundable once the car has been returned.
  • Excess Km charges. Each subscription car comes with 385km’s included per week. If you go over that, you will be liable for a 14.5c per km excess charge.
  • Insurance Excess Reduction. Each car has included insurance with a $3000 excess. If you would like this reduced, this can be reduced with an optional charge at the time of booking

Standard Package Pricing

The standard weekly fee is based on the vehicle you select and is stated on their website. This includes:

  • No application fees
  • A new car every 4, 6 or 9 months
  • All Maintenance and servicing
  • State Registration costs
  • Insurance
  • Roadside assist
  • 1650km’s per month

The standard weekly fee can vary depending on how long a customer might choose to have the car and how many km’s per week they need.

Karmo vs Lease vs other Subscription | Image: Karmo

Brands and Models

At Karmo, they offer a host of makes and models. Here are a selection of the makes they have available on subscription.

  • Tesla
  • Polestar
  • BMW
  • Nissan
  • Land Rover
  • Toyota
  • Mitsubishi
  • Jeep
  • MG
  • Volvo

Notice Periods

Karmo requires customers sign up for a set duration and as such, it is expected that customers remain on the platform for that duration. However, with flexible terms from 1 month – 9 months depending on make and model, there is usually an option available that will suit each and every customer.

What’s Special about Karmo?

Here are the main benefits of enjoying a car on subscription with Karmo.

  1. Price. Due to the way Karmo acquires vehicles, prices are typically the same if not better than lease prices or the equivalent total cost of ownership.
  2. Flexibility. Customers can determine their own duration. With no large setup, application or admin fees, there is a term that will be suitable for every customer.
  3. Simplicity. The weekly payment covers everything required to operate a vehicle with the exception of tolls and fuel/charging. With no unexpected costs like maintenance or breakdowns, financial management is so much easier with a car subscription.

Karmo have created a car subscription offering that is truly best in class in terms of flexibility and price. With strong relationships with manufacturers and car dealerships, Karmo has figured out how to offer a flexible service at a truly attractive price compared to its competitors.

Conclusion

According to Karmo, their mission is to evolve the way cities move. With future plans to expand into car share schemes and other alternative mobility options, Karmo is excited to be offering alternative car subscription plans for private individuals as well as business and corporate packages as well. With a focus on including EV’s at attractive prices, Karmo looks set to be making an impact against its mission to evolve the way cities move.

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  1. The Sydney team are awesome, everything was seamless and very easy to manage from applying to driving away in a brand new car within 5 minutes. The low up front costs are very attractive compared to some other offerings. - from Sam | 5. May 2022

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