SF Company To Launch First Shared Car-Lease Program

SAN FRANCISCO (KCBS) — There are companies to rent a car by the day, by the hour and even ride shares have become popular, but a new San Francisco company is working to develop the first, true shared-lease program for cars.

UpShift Founder and CEO Ezra Goldman said it’s another way of re-shifting to “shared mobility”. According to the company’s website, for as little as $50 a month, you and another person would pay that amount for a car you’d share the lease on. It would be for those who don’t need a car all the time, but at the same time don’t want to drive a beater.

“We help two people share a lease on a car. We give them the technology, legal and insurance to make that happen,” said Goldman.

Recently he showcased the lease-sharing plan at a symposium at SAP, focusing on sustainable transit options.

“There could be one person who drives a few times during the week commute; you know they’re a freelancer consultant or they work part time or something like that, and then maybe somebody else who has more weekend usage,” he explained.

Participants sign up for the number of miles on the lease they hope to share, pay that percentage of the lease every month and then Upshift sets up the insurance and software to manage reservations and access

“We’re looking to get up and running in San Francisco so we’re looking for pilot testers there who are interested in trying this out,” Goldman said.

The entrepreneur estimates the average cost of lease-sharing a new car is about the same cost as a monthly mobile phone plan.

(Copyright 2013 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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