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Holden reimagines car ownership with Maven monthly rental service

By Tim Robson, 15 Nov 2019 Car News

Holden Acadia 2019

Want a Holden Commodore one month and an Acadia the next? Now you can… but what’s the catch?

  • Lease a Holden for as little as seven days
  • Fuel, insurance and maintenance are included
  • Limited to major metropolitan centres at present

Holden has launched a new subscription service for its cars that will allow customers to effectively ‘trade-in’ a new car every month for another, or to rent a near-new Holden for a short period of time.

The service, known as Maven, has previously been available on a limited basis to customers in the ride-sharing or food delivery space but is now available right across the spectrum.

What's in the Maven fleet?

Holden will increase its current fleet of 2300 cars to 2500 for use on the Maven fleet, which will include the Colorado dual-cab ute, the compact Trax, the medium-sized Equinox SUV and the large Commodore sedan.

Prices to rent a Holden start at $225/week for a Trax, $250 for an Equinox, $275 for a Commodore and $300 for a seven-seat Trailblazer or Colorado ute (below).

Read more: Could this US Colorado become Holden's Ranger Raptor fighter?

The pricing structure includes comprehensive insurance coverage, maintenance and even a tank of fuel.

Costs of the Maven service

There is no membership fee or security bond for joining Maven, but there is a catch; first-time customers need to book a car for a 28-day minimum initial rental, before being able to switch to a seven-day cycle.

This means that the minimum cost of entry is $900, based on renting a Trax for a month.

More: How does car leasing work and should you do it?

A customer also needs to give the service centre seven days’ notice to swap a car.

The service is currently only offered in key metropolitan centres like Sydney, Melbourne, the Sunshine and Gold Coasts, Brisbane and Perth.

Who will benefit from the Maven service?

Holden believes the service will be popular with younger millennial-age drivers, who are not yet ready or able to take on the financial burden of a new car over a long term.

Other customers can look to the service to provide solutions to particular transport needs; swapping out of a smaller, more economical Trax into a larger Commodore (below) for holidays, for example, or renting a towbar-equipped Colorado or Trailblazer over the duration of a sports season where towing is required.

Small businesses can also use Maven cars to solve short- or medium-term transport dramas, or to even reward staff with a nicer car for a limited time without needing to lease one over several years.

"Maven is excited to re-launch long term rentals in Australia with a greater focus on the amazing Holden Colorado ute,” said Joanne Stogiannis, the general manager for Maven Australia, in a statement.

“Since launching in October 2018 we have continued to grow our suite of flexible products and model range allowing our members to access premium Holden vehicles loaded with the latest connectivity, safety features and technology for a set weekly fee.”

Are there any catches or traps in the Maven service?

On the surface, the Maven service offers relatively easy access to new vehicles at a fair price.

Borrowing $55,000 for an Acadia LTZ over five years, for example, will cost around $285 a week at current interest rates, versus $330 a week on Maven.

However, factor in maintenance and insurance, and the figures are much closer.

The cost of entry may be a barrier to some, while the limited roll-out of the service means that regional centres can’t access the service. Time-tabling vehicle swaps will also need to be factored in.

Does the Maven subscription program sound like a perfect solution for your needs, or would you still prefer to buy your own car? Let us know below!

 

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