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Collaborate (ASX:CL8) launches car subscription service on the Gold Coast
  • Vehicle lender Collaborate (CL8) has launched its car subscription service in Queensland and Northern New South Wales
  • The Carly vehicle subscription allows drivers to choose and use cars without a deposit, loan, interest, or long-term lock-in contract
  • Carly is already available in Sydney and Melbourne and could be ready to launch in New Zealand by March 2020
  • Collaborate’s share price is down 12.5 per cent this morning, with shares currently trading at 1.4 cents apiece

Vehicle lender Collaborate (CL8) has announced the launch of its car subscription service, Carly, for the Queensland and Northern New South Wales markets.

The vehicle subscription service was launched in Sydney and Melbourne in 2019, and will now also cover much of the Gold Coast region. Cars will be available for pick up or delivery from multiple locations in Brisbane and Tweed Heads.

Carly allows drivers to choose and use cars provided by dealerships, manufacturers, and fleet managers. The vehicles come from a range of brands, including Mercedes, Mitsubishi, Subaru, Hyundai, MG, Ford, and Collaborate investor SG Fleet.

The Carly vehicle subscription claims to be a more flexible alternative to buying, renting, or leasing a car. Drivers are able to subscribe to cars without hefty upfront fees, long-term lock-in contracts,  any deposits, loans, interest, break fees, or balloon payments.

Collaborate plans to launch Carly in New Zealand by March 2020.

Collaborate’s share price is down 12.5 per cent this morning, with shares currently trading at 1.4 cents apiece at 11:53 am AEDT.


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