Price Changes: Letter from Treasurer, Greg Freeman
My name is Greg Freeman, and I’m treasurer of Modo’s member-elected Board. I’m writing to let you know about an upcoming change to Modo’s price plans, effective December 1.
To keep pace with rising operational costs, the changes include a rate increase, but also simpler pricing, and special overnight rates.
Here’s how the new pricing breaks down:
Why the change?
This is our first increase in almost five years.
During that time, costs – such as depreciation on a newer and larger fleet, parking fees, and insurance payments – have continued to rise. This is reflected in our new rates.
The Board approved a net price increase of about 8%, which reflects both rising costs and the elimination of some of our booking and administrative fees and the end of fuel surcharges.
We also capped overnight rates for Business and Casual members.
Casual Members can offset the rate increase:
Did you know that more than 90% of Casual members would save money under the Co-op member plan?
You can lower your bill by signing up for Modo’s Co-op Layaway Plan*.
Commit $50 a month for 10 months, and then start driving at the lower member-owner rate. Remember, the share price is fully refundable: if you leave Modo, for any reason, ever, the entire $500 is returned to you.
Remember, Modo is run for members like us:
Modo is a local, member-owned co-operative committed to providing the best value in carsharing, which means a great service at the best possible rate.
There is no provision in our rates for profit! We recoup our costs and invest in making Modo better. That’s all.
Effective December 1, the new rates will be reflected on your January 6 invoice. Any bookings you’ve already made for December 1 onward will be adjusted to the new rate.
Have questions? Call our Member Care team at 604.685.1393 or email email@example.com.
Treasurer, Modo Board of Directors
*Note: Our Co-op Layaway Plan has since been discontinued