Fair—a first-of-its-kind app that allows customers to shop, get approved and pay for a car all on a phone—launched. Fair’s offering allows customers to shop for a car they want and can afford based on a pre-qualified monthly payment range tailored to their budget, and includes the flexibility to walk away at any time.Fair makes it possible to get a car with a driver’s license and a bank account. This fully digital transaction process enables customers to complete a car transaction completely within the app, eliminating the need for customers to physically sign numerous documents, which can save hours at the dealership. Fair offers pre-owned and certified pre-owned cars. They’ll always be under six years old and 70,000.
Fair was designed to free consumers from the long-term commitment of a loan or lease while providing benefits of car ownership that are missing from existing ride- and car-sharing options.
Fair customers can drive their cars as long as they want and return them with only five days’ notice. A limited warranty, routine maintenance, and roadside assistance come standard with every Fair car. Even with these added benefits, Fair guarantees that customers can’t get a lower payment with a comparable loan or lease.
Fair is a collaboration between serial entrepreneur, Scott Painter, and global automotive leader, Georg Bauer. Scott is an entrepreneur and investor who has started dozens of disruptive companies to improve the car buying experience, including TrueCar and CarsDirect.com. Georg is widely recognized as an innovative leader in auto finance and has more than 30 years of experience shaping financial services for leading car companies on a global scale, including Mercedes, BMW and Tesla.
Fair includes a completely digital checkout process and allows a consumer to keep the vehicle as long as he or she wants, then return the car after providing five days’ notice, the company explained in a news release.
Every Fair Vehicle comes with “All-In-One” at no extra cost — a limited warranty, routine maintenance and roadside assistance. Fair can tell buyers if they qualify for our month-to-month insurance policy in a few clicks. If qualified insurance can be bundled into the monthly payment.
Fair is launching in the greater Los Angeles area and will be rolling out to the rest of California by the end of the year. The company plans to expand to other select markets across the United States in 2018.
The website claims that fair means trust, not hidden fees for dealers. Fair covers all advertising and promotional costs. Fair also offers one-day funding on every transaction and hands-on support from a dedicated team.
That is a very good application. 🙂