BMW's version is similar to those already offered by Cadillac and Volvo. These sorts of car subscription plans let users change car models more often than they could with a traditional lease and monthly payments typically include insurance and maintenance along with the rental fee.

As ride-sharing becomes ever more prominent, automakers are looking for ways to compete among younger customers. In that regard, BMW launched a new lease program earlier this year that lets its customers rent their cars or use them with a ride-sharing service.

Volvo announced its Care by Volvo subscription service in November, while Cadillac launched Book early last year.