BMW’s Car Sharing Program Launches ReachNow Residential – Forbes
ReachNow is a premium car sharing program that is owned by BMW, exclusively featuring select BMW and MINI vehicles, including the electric BMW i3. The program is currently available in Seattle, Portland and New York City, and operates with a smartphone app and some unique car sharing features.
ReachNow will launch a new innovation, ReachNow Residential, on December 8, 2016 with the Albanese Organization at The Solaire, the developer’s high-rise residential tower at 20 River Terrace in Battery Park City, New York.
Where the current program resembles other ride sharing services like Zip Car and Car2Go, where users check out vehicles from a publicly shared fleet, ReachNow Residential will tie a designated small fleet of vehicles to a particular apartment building, business or community. Buildings with at least 100 rental units and at least five available designated parking spaces may be eligible to participate in the pilot program in the cities where ReachNow currently operates. Building owner/operators will be responsible for a maximum of $5,000 in set-up fees, after which eligible residents or employees will be able to opt in to the program for a one-time lifetime membership fee of $39.
In order to be eligible to participate, drivers must be at least 21 years of age with a valid credit or debit card and a valid U.S. driver’s license with an “acceptable” driving record.
The ReachNow system operates with a dedicated smartphone app and a Member Key, which is mailed to users after their first vehicle share. The app tells the user which vehicles are available to use, and allows them to reserve a vehicle up to 30 minutes before they begin driving. An advance reservations feature is planned for the near future.
Members pay for driving time by the minute. Current rates are 41 cents/minute (reduced from 49 cents/minute for an indeterminate limited time). While the vehicle is parked, the rate is 30 cents/minute. Fuel is the responsibility of the member in gasoline-powered cars, and vehicles must have a range (gasoline or electric) of at least 5 miles when returned. Insurance is included in the rental fee, along with up to 400 miles per day of travel. Additional miles are charged at 45 cents/mile.
ReachNow shares can vary from quick trips to journeys of up to 14 days at the choice of the member.
ReachNow’s vehicles include BMW 328xi sedans, BMW i3s, MINI Cooper 2- and 4-door hatchbacks and MINI Cooper Clubman vehicles.