LMP Subscriptions Review – Complete Review
LMP Subscriptions buys used and new vehicles from auctions, dealers, and customers, and uses them in their rental and subscription fleets, then offers them for sale. They offer a personalized, customizable experience for people looking for a new car in Florida, New York, and Connecticut.
What does a LMP Subscriptions subscription look like?
Customers choose from LMP’s available vehicles, each with their own monthly fee. This monthly fee covers all the usual subscription bases.
As a subscriber you can either choose to subscribe to an LMP car on a monthly basis, eventually returning the car to LMP- this is their Subscribe Monthly program which can be indefinite or for periods of 6, 12, or 24 months – or you can opt in to their Subscribe to Own program, in which case you’ll buy the car outright at the end of either a six or twelve month period. You’ll have to either pay the full cost agreed upon when you initially sign the subscription agreement, or provide proof of financing.
How much does it cost?
Each car comes with its own monthly fee and initial activation fee, both of which vary depending on which monthly term you agree to.
At the time of writing this review, the least expensive option is subscribing to a 2021 Hyundai Accent for 6 months, which will cost you $70 per month with an activation fee of $702. The most expensive option is subscribing to a 2019 Rolls-Royce Dawn for 12 months, which will cost you $3,043 monthly with a $30,430 activation fee.
Where does it operate?
LMP Subscriptions currently operates in Florida, New York, and Connecticut.
How do I sign up?
Go over the LMP Subscriptions’ website and either find the subscription application or go check out their available cars. Choose whether you’d like a Subscribe Monthly or a Subscribe to Own plan and your desired term length. You’ll then fill out all your info, including your driver’s license number and photo, in order to apply for approval.
LMP will reach out to you and finalize your application and ask for additional info, then you’ll be set to schedule your first car pick-up.
Am I eligible for LMP Subscriptions?
As long as you have a valid driver’s license, you’re eligible. Of course, your driving history will be taken into account. If you’re from out of the country, you’ll need an international driver’s license and passport in order to apply.
How long do I have to wait for my new car?
Generally, you can apply and, if approved, schedule and pick up your new car within 24 hours.
Can I try the service before I commit to it?
LMP will try and give you a chance to test drive the car you want – or, at least something similar to it – after LMP has approved your application. You’ll have to call up or email your local LMP to try and schedule a test drive, because they don’t let walk-ins do any test driving.
Can I swap vehicles?
You can swap out your current vehicle for a new one from LMP’s website. LMP can either approve or deny your request. If you’ve been approved, you’ll have to wait at least 10 days before you can pick up your new car. There is an additional charge to swap your car for a new one.
How do I cancel LMP Subscriptions?
You can cancel whenever you want, just get in touch with LMP and let them know. That said, anything you owe LMP in terms of overdue charges, charges for damage, excess mileage etc. will be billed to you. If you want to rejoin, you’ll have to give LMP a 15-day notice.
LMP Subscriptions vs. Lease
The Subscribe to Own program is basically a lease, with a period of subscription service tacked on right at the beginning. The Subscribe Monthly program is more like what you’d expect from a subscription service, with its monthly terms, vehicle swapping, and inclusive fee.
Which cars are available?
You have your pick from a variety of models from Chevrolet, Ford, Hyundai, Jeep, Land Rover, Lexus, Mazda, Mercedes-Benz, Nissan, Rolls-Royce, Tesla, Toyota, and Volvo.
What is included in the LMP Subscriptions monthly price?
Your monthly fee will cover your mileage allowance, maintenance, some damage, roadside assistance, and your car’s registration.
Each car comes with it’s own set allowance of miles you’ll be able to drive each month. You won’t be able to add any additional miles when you’re signing up. In general, the more expensive the car, the less mileage you’ll be allowed. LMP’s most expensive options, the 2019 Rolls-Royce Dawn, comes with a 500 miles-per-month allowance. The most mileage allowed you can expect is 1000 miles per month.
Insurance is not included, which means you’ll be responsible for insuring your car. You’ll also have to give LMP proof of insurance before they can finalize any subscription agreement.
LMP provides roadside assistance and routine maintenance, and will determine how much coverage customers will receive in the case of damage to the vehicle.
What is not included in the LMP Subscriptions monthly price?
Aside from the upfront activation fee you’ll pay when you subscribe, you’ll also be covering insurance coverage for your car, any excess mileage over the agreed upon mileage allowance, and, in some cases, optional delivery of your vehicle to you.
As with just about every other subscription service, you’ll have to return your vehicle with the same amount of gas in the tank as when you first received it.
Is LMP Subscriptions right for you?
Well, it depends. Price-wise, cars on the lower-end of LMP’s offerings might make more sense than their high-end cars, especially when compared to a traditional lease. That said, no matter what your budget is, LMP offers a lot in terms of flexibility, so if that’s your main priority, then I think LMP is worth checking out.
However, the Subscribe to Buy option doesn’t quite make sense. If you’re looking to buy a car, why also have to pay to subscribe to it beforehand? Your monthly subscription fees don’t go towards the final price of buying your car.
LMP Subscriptions Help & Support
You can call LMP Subscriptions at (954) 895-0352, or email them at firstname.lastname@example.org.
LMP Subscriptions FAQ
Q: Are LMP vehicles new or used?
A: LMP offers both new and used cars – all of which are recent year’s models.
Q: Can other people drive my LMP Subscriptions car?
A: You, and any additional driver listed on your insurance policy. LMP charges $99 per additional driver each month.
Q: Can I drive LMP Subscriptions outside the US?
A: You won’t be able to drive outside the U.S.
Q: Can I buy out the LMP Subscriptions vehicle if I want to keep it?
A: All LMP cars will be available for purchase once they’ve either fulfilled a mileage limit or predetermined time in LMP’s subscription fleet.
LMP offers solid customization options for a good range of vehicles. But depending on the vehicle, prices can leave a bit to be desired, and the Subscribe to Buy option, while an interesting idea, doesn’t seem like as viable an option as the Subscribe Monthly option.
LMP offers great customization and swapping options on a wide variety of vehicles.
- Wide range of vehicles
- Easy to buy an LMP car
- No limit on swaps
- Insurance is not included
- Upfront activation fees are pricey
- Subscribe to Buy is a bit confusing
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