Volvo has officially unveiled a subscription-based service called Care By Volvo that looks to change the very nature of car ownership.

If you’re thinking something along the lines of what Apple has done with iPhone subscriptions in the United States, then you’re on the right track. Volvo’s service will offer subscribers a fully-loaded luxury vehicle for a 24-month contract, with the option to upgrade after a year, all booked online via a computer or mobile device.

This model differs from financing or leasing in a variety of ways. For starters, there is no down payment at all. Aside from the $500 deposit — which is fully refundable up to the moment you sign for it — no financial commitment is required up front. There are no convoluted offers from dealerships nor wrangling over add-on packages.

It’s supposed to be a straight-up deal lasting up to two years. But, as always, there’s going to be a little fine print involved.

The details

Since Volvo is starting this now, subscribers will be able to go to the Care By Volvo site (in English or French) to sign up and order one of two models: the V60 luxury estate wagon or the S60 sports sedan. They can pick what colour they want, and in the case of the Momentum variants, either a black or blonde interior. The R Design for either model will come with a black interior, regardless.

There won’t be any add-ons to choose because they’ll already be included. Both vehicles will come with in-car satellite navigation, CarPlay, Android Auto, in-car LTE with Wi-Fi hotspot, safety features and overall Sensus Connect infotainment system.

That will also include full access to the vehicle through the Volvo On Call app for iOS and Android, where you can remote start, lock/unlock and get diagnostic stats.