Car sharing as a concept has become very popular and there are several service providers like RelayRides, Getaround, Zipcar and many others. HiGear is also a car sharing service but caters to the very high end of the spectrum. They are relatively new in the field but have grown very rapidly. They have announced a new product called “Swap Club”. As the name suggests, it allows its members and car owners to swap cars among each other in exchange for HiGear points.
The members who want to participate in the Swap Club have two options. They must accumulate points by renting out their cars on HiGear or they can go in for outright purchase of points on the HiGear website. The Swap Club offers the car owners access to high end luxury cars like Mercedes, BMW, Audi, Porsche, Aston Martin, Lamborghini and Tesla. HiGear has carved a niche for itself by positioning itself as a specialist of luxury vehicles only. Being a new player they have very recently gone live in the Bay Area and Los Angeles.
Ali Moiz, the CEO of HiGear is confident that the new feature would encourage the car owners to rent out their own cars on HiGear as it would earn them valuable points that would give them access to luxury cars even at zero cost. The Swap Club aims to bring down the cost of access to awesome cars. The points earned vary according to the vehicle you rent. For example a BMW 3 Series may go for 40 points per day where as an Aston Martin DB9 could earn you 140 points per day. Have you ever rented your car?
The response to the offer is phenomenal in Los Angeles where the site recorded 2,000 hours of car share in just a week’s time. The growth is on track to hit the 40,000 to 50,000 hours mark in another 90 days. The service would be extended to other markets including Portland and San Diego, by year-end. The project is being funded by BV Capital, Battery Ventures, 500 Startups and angels including Zipcar investor Craig Sherman and Kevin Chou. They have raised $1.3 million so far.