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Silvercar Will Soon be Acquired by Audi

March 30, 2017
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2 min read
Silvercar Featured
Silvercar Will Soon be Acquired by Audi
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Luxury German automaker Audi has shared that they will be acquiring Silvercar, the startup car rental company that has disrupted the industry as of late. Audi currently owns 20% of the company after investing $28 million in the startup last year. But after the deal goes through, they will own 100% of Silvercar, which was founded in 2012 with the goal of improving the typically lousy experience customers have with traditional rental car companies.

Silvercar uses technology to streamline the process of renting a car — you can make a reservation, request pickup from the airport and unlock the vehicle all in the mobile app. Whereas traditional rental car companies charge fees for just about everything but with Silvercar you don’t experience the price gouging. Its fleet — comprised exclusively of Audi A4s — includes free GPS, Wi-Fi and satellite radio, fair toll prices, and you’ll be charged at market prices (plus a $5 fill-up fee) if you bring back your car without a full fuel tank.

Silvercar only rents Audi A4 sedans. Image courtesy of Silvercar.

Silvercar currently operates in 12 cities, with most of the rental locations being located near the cities' airports. TPG contributors have had great experiences with the product and have found the prices to be reasonable. Audi, part of the Volkswagen Group, is expected to complete the acquisition by the end of June, pending regulatory approval. Under the new ownership, it's likely we'll the service expand to more cities as well as more innovation in the space.

For now, it sounds like nothing will change about how Silvercar operates. But like all takeovers, there sure to be some eventual changes. In a press release, Audi gave few details about what they actually plan for the rental startup, though it seems that it's taking part in a current trend for large automakers to invest in mobility companies:

Note that if you haven’t used Silvercar yet, you can earn a $25 credit on your first rental by entering this code: BKELLY1.

H/T: One Mile at a Time

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  • Packed with credits foodies will enjoy
  • Solid welcome bonus

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  • Some may have trouble using Uber and other dining credits
  • You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
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  • Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
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  • $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
  • $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
  • $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
  • Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
  • No Foreign Transaction Fees.
  • Annual Fee is $325.
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