Volvo is trying out car subscriptions that are just like smartphone payment plans

Volvo is taking steps to embrace new technologies more aggressively than some of its peers, and that trend even extends to the way the Swedish automaker will market its vehicles to drivers.

The company officially released the terms for its previously announced Care by Volvo service, which offers consumers an all-inclusive lease on the new XC40 compact SUV. While car leases are nothing new, Volvo's program is notable for how similar it is to how wireless companies sell expensive smartphones these days.

Care by Volvo will cost $600 a month on a two-year-long contract (before local taxes and fees, that is) with a 15,000-mile annual allowance. There's a clear incentive for customers to upgrade to a new model after just 12 months, just like their smartphones, although it's not clear if they'll only be able move up to the next version of the XC40 or select another model.

The deal includes more than just a shiny new SUV; the program will also give lessees access to customer service and roadside assistance, maintenance, and wear-and-tear replacements for stuff like windshield wipers and brakes. Most importantly, the Volvo will roll auto insurance coverage into the package, with policies from Liberty Mutual.

There's also an option available for an extra $100 a month, which bumps up the XC40 specs with features like 20-inch wheels and an enhanced sound system.

Customers can select their SUVs online, and the vehicles will make their way to US showrooms next year. The XC40s will reach the first subscribers next spring.