My Review of Spring Free EV
I have mentioned this a few times already. I want to go into more depth and detail and talk about the spring free, ev company and their platform and what they offer and how it can help you. So before i get into that click below grab the five things you must do before starting a car rental business. Lots of good information in there also give this channel subscribe, were constantly talking about different things that can affect car share platforms and your rental business. So so spring free evm, um ive been in contact with them off and on over the last few months, um i almost got one of their base level nissan leaf, leaf, plus vehicles, uh to add to my fleet. Ultimately, i held off and theres a couple reasons why so you know its interesting how this company works. So this is a company thats based out of silicon valley in california. They have a lot of tech money that is backing up this car company, basically anytime. Anyone wants to get a new rent or lease a new car from them. They will go out and just purchase a car cash, an electric vehicle and deliver to you now that said, you have to sign a year lease for this car, so youre not owning it. You dont have to deal with any banks, any financing or anything like that, but its more or less like rent uh on just on a car for a year.
Okay, now that said theres they have the nissan leaf. Plus they have a hyundai kona um. They have a vw id4, a series of different tesla models: three and y and a pole star two. So all electric vehicles um these are cars that you can plug into your uh fleet right. So you know my feeling is this? So lets just talk about the nissan leaf, so they have a base monthly fee of 300 a month but theres also a mileage fee. On top of that, and so the minimum mileage that you have to use the car is 2500 miles, which brings the whole fee up to 600 dollars, and then they have a max of 4 000 miles a month that and the max fee would be 779.. So this is obviously designed for drivers who are using cars in high mileage situations, read uber drivers or lyft drivers right. So this is a in my opinion. This is a good setup for people who are putting high mileage on your car. Okay. Now that said, my you know, i i talked with their sales rep um in my opinion, about this company um. I think this is a great situation in certain markets. I dont think this situation is for everyone. Now that said, anytime, you lease a car from spring free ev. They require a twelve hundred dollar one thousand two hundred dollar security deposit on the car, and now they are requiring that uh.
If youre a fleet manager, you have to show at least 30 days or more of two thousand dollars in your bank account or higher okay, so some for some people, thats fine for other people, thats, not a pro. You know that is a problem, so it just kind of depends on what your situation is um. I would imagine some people would have no problem with that. I would imagine other imagine. Other people would have a problem with that. So um, you know in my conversations with their sales rep. He said that, like in south florida in san francisco in la the demand for teslas is just like through the roof. Now the teslas on their platform, even like the model 3 base level, is, is going to cost anywhere from 1100 to 50, almost 1500 every month. Now i can tell you if you put a tesla well, you cant put teslas on get around, but if you were to put that on turo, it depends on the market in san francisco or la or south beach miami that probably would do well. You would probably make three to four grand a month from a tesla in those markets. Uh personally im in atlanta and the calculator on turo told me that i would only make about 1200, maybe 1500, so that obviously, would not be worth it uh to to do. You know in uh in this market, so uh, you know this is my feeling about uh, springfree, ev um.
I think its cool that you can you know lease a car for a year, get um get a nut. Add another car to your fleet. Uh get something going and then um, you know, but the thing is a twelve hundred dollar security deposit is a lot to put down um, in my opinion, thats a pretty hefty security deposit and then uh the mileage, obviously theyre tracking the mileage on it through their System um, so you know the way i would handle this company um. In my opinion, i think the like so lets say you take the nissan leaf right and thats their base level um car electric vehicle that they offer on their platform. If you did a private agreement with an uber driver or lyft driver thats, probably what would make most sense, because you could probably charge 450 to 500 a week on that car and so youd come out with probably about a a profit of about a little over 1200 bucks, but then you have to figure in youve, got to insure it as well. So probably a thousand dollar um profit. So i think that uh in that situation that could work um, you know so you get about a thousand bucks a month. Profit um. I think that you know, in my opinion, uh this tesla situation with them. If you live in san francisco, la or south beach miami, i think the teslas make sense, especially onturo ive, never rented a tesla on turo.
I only go off of what their calculator tells me in terms of what the revenue would be, but i know in this market it seems like it would be in atlanta. It seems like itd, be a little on the low side but um he. You know, according to the um the sales rep at uh, springfreev hes, told me: theyve had a ton of them huge demand in those markets for teslas. So, like i said um, i think its worth exploring the option. I think that if youre in one of these hot markets, like the teslas exit, for example, are great options to put onturo um this. In my opinion, this company was designed with either turo in mind or higher car in mind, because theyve designed this to set it up for either uber drivers or high dollar value vacation people which would be turo or hire car this company. I would not absolutely would not recommend putting any of these cars on get around um. I just dont see the the pricing structure does not make sense, in my opinion, uh to put on get around um. You know the the leaf, maybe, but i i dont, i dont think its the best play um. I think your best deal um is, if, like i said, if youre with spring free, eb uh, if youre gon na do this either private agreements or turo. In my opinion is the way to go with these guys so um.
If any of you have any comments, um, let me know id be curious to hear your ive been kind of back and forth with these guys and and kind of you know not sure. If i wanted to do it or not like i said that 1200 uh security deposit feels a little heavy um committing to a year uh lease, you know, um thats, fine between you know, march through november, but that december through februarys, you know area in the calendar. Can get a little dicey with them, but if you do have a long term, renter uh, who is an uber driver that wouldnt be a problem so anyway leave any comments. Id love to hear what you guys think about this um, like i said, ive been kind of back and forth. In my own mind about these guys um. I think what theyre doing is cool. I think its a great option for um fleet managers and um. It sounds like if you are in one of those hot markets um its a great deal, especially with the teslas. So, anyway, before i go, click below grab the five things you must do before starting a car rental business, and i will catch you in the next episode.