Audi’s announced the introduction of the Silvercar Premium Rewards Program. This is great news, as Audi has continued to build out Silvercar since they bought it a couple of years ago.
The new Silvercar Premium Rewards Program
Silvercar is introducing a program different than most others across the rental car industry, one where everyone is a VIP. On the surface, you’d think this is not great, because, you know, the endless chase for status. But, really for a car rental company with such a small footprint, and only offering 2 vehicle types, this is actually a very smart strategy.
Here’s how the program works:
Silvercar Premium Rewards Program
A few other key details:
- You earn points for the base cost; meaning you don’t earn points on taxes, fees. Earn rate: 1 point per dollar spent.
- Using points – You need to have at least enough points to cover 50% of the base rate of a total reservation.
- Redeeming Points – You get a 1-day rental starting at 516 points (assuming $49 base rate), meaning points have a rough value of 9.49 cents.
Looking at the terms and conditions there seem to be some inconsistencies. For example, the marketing page states:
However, the terms and conditions specifically state:
Last time I checked, 24 months is two years, not 5 years.Expiration of Points
Points will expire if not used within 24 (twenty-four) months of being earned; however, points will not expire if you complete an Activity within such 24 month period. Such an Activity will reset the 24 month expiration period for all points earned prior to the Activity and not otherwise expired.
Another piece that is a bit unclear is that the terms state that points have no value (generally a good thing), so the award chart is a bit murky to me.
The introduction of a rewards program is always a bonus. There are some inconsistencies unfortunately, but, I suspect this is just the normal course of things as a company rolls out a new program. Its a bit unclear on how the award chart looks. At a minimum, we know that we should be able to redeem 516 points, which equates to probably something in the realm of a minimum of 10 and a half cheapest rental days. Certainly not as great as some of the other programs (such as National’s current promotion of rent 2, get 1 free).
What are your thoughts on the new Silvercar Premium Rewards Program?