Car subscriptions are apparently the new thing. Volvo announced a subscription service for iPhones this week, and now BMW is offering its own service.

Subscriptions services are the latest trend for vehicle brands. Through these programs, users can "rent" out a vehicle for a predetermined price. The company covers the cost of insurance, repairs, and maintenance, and the user only has to handle gas. Users can even swap models throughout their subscription.

The automaker has announced that their subscription service will launch on April 2 at a dealership in Nashville, Tennessee. The program, called Access by BMW. So far, no details about the available models or pricing have been released.

This is only the latest of programs to be offered. Mercedes-Benz has Flexperience in Germany, Lincoln has a program for their used vehicles, and Volvo recently offered up their own program done through iPhones. The pricing of these programs ranges from $600 a month (Volvo) to $3,000 a month (Porsche).

BMW hasn't said whether the program will expand out of Nashville. Right now we are in the experimental phase of this trend, and its success will determine whether or not it continues.

Personally, I don't like this idea. At the current rates, it would take about 5 years to end up paying more for the subscription than to just purchase the vehicle outright. While that sounds like a long time, a new vehicle it meant to last far longer than that. It seems like a poor long-term investment to me.