Canvas (car company)

Canvas is a vehicle subscription company based in San Francisco, California for Ford and Lincoln cars. The company is a subsidiary of the Ford Motor Credit Company. Canvas is directed at consumers seeking alternatives to car ownership and leasing or daily car rental.[1] For a subscription term of three months to a year or longer, the service provides the use of a car bundled with insurance and maintenance coverage.[2]

Canvas
Subsidiary
IndustryTransportation
FoundedDecember 2016
Headquarters
San Francisco, California
Area served
San Francisco Bay Area, Los Angeles
Key people
Ned Ryan (founder, CEO)
ServicesVehicle subscription of Ford and Lincoln cars
ParentFord Motor Credit Company
Websitedrivecanvas.com

History

Canvas was founded in December 2016 under founder and CEO Ned Ryan as a subsidiary of the Ford Motor Credit Company.[3] The company launched operations in May 2017 in the San Francisco Bay Area.[4] In November 2017, Canvas expanded to the Los Angeles market.[5]

Operation

Canvas offers previously-leased Ford and Lincoln models for 3 to 12 month subscriptions. As of September 2018, subscription costs ranged from $379 per month for a Ford subcompact to $1,125 per month for a Lincoln luxury SUV.[6][7] The bundled monthly subscription includes insurance, warranty, maintenance and roadside assistance.[4]

References
  1. "Ford offering short-term consumer auto leases through Canvas". Reuters. June 7, 2017.
  2. "Roadshow's guide to car subscriptions, an alternative to buying or leasing". CNET. September 12, 2018.
  3. "Automakers test subscriptions to attract new consumers". The Detroit News. September 13, 2018.
  4. "Subscription Vehicle Service Canvas Celebrates Growth, Looks for Continued Expansion in 2018". Ford Media Center. February 8, 2018.
  5. "Ford's Canvas monthly car subscription car service expands to LA". TechCrunch. November 1, 2017.
  6. "Cars are cruising down the monthly subscription highway". AP. September 4, 2018.
  7. "You Subscribe To Netflix And Spotify — Why Not GM And Ford?". Investor's Business Daily. September 4, 2018.
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