Prazo Announces App-Based Car Leasing

A new company says they want to be the “Amazon Prime” of cars. In this case, that means marketing to millennials, who may not want to purchase a vehicle.

Prazo is a new app-based vehicle leasing service. According to a report from Business Insider, the app allows consumers to find a vehicle to lease from a partnering dealership in a number of minutes. The entire vehicle leasing process takes place on the app, meaning consumers can run a credit check and even schedule their vehicle delivery from their mobile device. Speaking of the credit check system, Prazo co-founder Jon Alain Guzik told Automotive IT News, “Just swipe your credit card and based on your credit history we give you a range of how much your car will be a month.” The lease is also supposed to include other services outside of vehicle ownership.

The vehicle lease includes unique support from Prazo. The organization offers concierge service to vehicle owners. On the company website, Prazo concierge service is explained as, “Need to have your car serviced? A couple clicks in the app and your car is off for servicing. We’ll even throw in some Uber credits so you can get around until we bring it back.” Prazo also claims to offer 24/7 roadside assistance nationwide, with bike and even kayak rentals.

Guzik also provided insight on his vision for the organization to Business Insider saying, “If your car needs a service, we’ll pick it up, take it to the dealer, and return it to you when it’s done. We’re trying to be the Amazon Prime of cars.”

Prazo will open for business in 2016 in the Los Angeles area with one vehicle available for lease, the 2016 Ford C-Max. The current dealer partner for Prazo, Galpin Motors will customize the vehicles. The vehicles can reportedly be leased for “very little money down” and around $300 per month.

We told you previously that leases rates are on the rise – what do you think about this app-based leasing organization? Will consumers want to run through their entire leasing process on their smartphone?