Why it matters: Programs like Hertz My Car aren't ideal for all situations but if you're in need of a vehicle without a long-term commitment and don't want to have to rely exclusively on traditional rentals or ride-sharing services, it could be worth checking out.

Car rental company Hertz has become the latest to launch an alternative to traditional vehicle ownership.

Hertz My Car is an all-inclusive monthly vehicle subscription service. Initially launching in Atlanta and Austin, the service is available in two tiers. The $999 option grants access to full-size sedans, small SUVs and trucks while the $1,399 per month tier affords your choice of luxury sedan, regular SUV or large truck.

Subscriptions cover vehicle maintenance, roadside assistance, damage and limited liability protection (after a $1,000 deductible). Customers can trade out their vehicle twice a month for another offering in their tier and get a 2,000 mile allotment each month (anything over 2,000 miles will be billed at $0.35 per mile).

There's also a one-time, non-refundable enrollment fee of $250 and if you want to swap out vehicles beyond the two complementary trades, it'll cost you $75 per exchange.

It's also worth noting that while you can travel out of state with your rental, you aren't permitted to leave the country. Furthermore, rented vehicles can't be used for ride-sharing services.

Hertz plans to expand to additional cities in the near future.